TORONTO, March 5, 2014 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) (TSX:AI.DB) (TSX:AI.DB.A) is pleased to announce that the underwriters of its offering of 6.25% convertible unsecured subordinated debentures due March 31, 2019 exercised, in part, their previously announced over-allotment option, resulting in the issue of an additional $1,801,000 aggregate principal amount of debentures. The partial exercise of the over-allotment option brings the total aggregate principal amount of such debentures issued by Atrium to $31,801,000. The debentures are listed on the Toronto Stock Exchange under the symbol "AI.DB.A".
The underwriting syndicate for the offering of debentures was bookrun by TD Securities Inc. and RBC Capital Markets and co-led by CIBC, and included BMO Capital Markets, Scotiabank, National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Industrial Alliance Securities Inc., Dundee Securities Ltd. and Mackie Research Capital Corporation.
Atrium will use the net proceeds from the partial exercise of the over-allotment option to repay existing indebtedness under its revolving operating credit facility, which will then be available to be drawn, as required, for general corporate purposes, particularly funding future mortgage loan opportunities.The details of the debentures are described in Atrium's press release issued on February 27, 2014 in connection with the closing of the offering of the debentures. 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 an exemption from registration is available. This news 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.