This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Firm Capital Mortgage Investment Corporation Closes $36,023,000 Bought Deal Financing


TORONTO, March 21, 2012 /PRNewswire/ - Firm Capital Mortgage Investment Corporation (the " Corporation") (TSX: FC) today announced that it has closed its previously announced offering of 1,340,000 common shares (the " Shares") of the Corporation at a price of $13.45 per Share and $18,000,000 aggregate principal amount of 5.25% convertible unsecured subordinated debentures (the " Debentures") due March 31, 2019 of the Corporation at a price of $1,000 per Debenture. Each Debenture is convertible into common shares at the option of the holder at a conversion price of $14.80 per share (or 67.5676 shares per $1,000 principal amount of Debentures). The Debentures are listed and posted for trading on the TSX under the symbol FR.DB.C. The offering was underwritten by a syndicate of underwriters led by TD Securities Inc. and including Dundee Securities Ltd., National Bank Financial Inc., Desjardins Securities Inc., and Macquarie Capital Markets Canada Ltd. The Corporation has also granted to the underwriters an over-allotment option, exercisable in whole or in part, at any time up to 30 days after the closing of the offering to purchase up to an additional 201,000 Shares and an additional $2,700,000 principal amount of Debentures.

The net proceeds of the offering will be used to repay a portion of its indebtedness.

The securities being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except in limited circumstances.

About The Corporation

The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation's investment objective is the preservation of Shareholders' equity, while providing Shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to Shareholders. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Firm Capital, available on the SEDAR website at In addition, supplemental information is available on Firm Capital's website at

SOURCE Firm Capital Mortgage Investment Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs