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TORONTO, Dec. 21, 2012 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce that the underwriters of its public offering of common shares have exercised in full their previously announced over-allotment option, resulting in the issue and sale today of an additional 705,000 common shares at a price of $10.67 per share for gross proceeds of $7,522,350.
The underwriting syndicate for the public offering was co-led by TD Securities Inc., CIBC and RBC Capital Markets, and included Scotiabank, BMO Capital Markets, Dundee Securities Ltd., National Bank Financial Inc., Canaccord Genuity Corp., Raymond James Ltd., Industrial Alliance Securities Inc. and M Partners Inc.
Atrium will use the net proceeds for general corporate purposes, particularly funding future mortgage loan opportunities.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Atrium in any jurisdiction.
As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial real estate finance. Atrium lends primarily in major urban centres in Canada where the stability and liquidity of real estate are at the highest levels. Canadian Mortgage Capital Corporation ("CMCC") is responsible for originating, underwriting, servicing and syndicating Atrium's mortgage loans. CMCC has been Atrium's exclusive manager since its formation and has grown Atrium's business to a mortgage portfolio of approximately $190 million as at September 30, 2012. CMCC has been in the business of originating and underwriting mortgage loans for over 18 years and servicing mortgage loans for over 13 years.