Firm Capital to hold normal course issuer bid for 6.25% convertibles

By Wendy Van Sickle

Columbus, Ohio, Sept. 20 – Firm Capital American Realty Partners Corp. has received approval from the TSX Venture Exchange to hold a normal course issuer bid to purchase up to C$1,929,068 principal amount, or 10% of the public float, of its C$19.4 million of 6.25% convertible unsecured subordinated debentures due June 30, 2026, according to a company news release.

The bid will begin on Sept. 25 and end on the earlier of Sept. 24, 2024 or the times the bid has been completed or terminated at the discretion of the trust.

The trust said its board of trustees is of the opinion that it is in the best interest of the trust and the security holders to purchase the debentures at a discount to par.

All debentures purchased under the bid will be made on the open market through the facilities of the Exchange by Clarus Securities Inc. on behalf of the trust using available cash.

Firm Capital is a U.S.-focused real estate investment entity that pursues real estate and debt investments.

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