Atrium Mortgage Investment Corporation Announces $25 Million Public Offering of Common Shares
18 Septembre 2024 - 10:33PM
Atrium Mortgage Investment Corporation (TSX: AI, AI.DB.D, AI.DB.E,
AI.DB.F, AI.DB.G) (“Atrium”) announced today that it has entered
into an agreement with a syndicate of underwriters bookrun by TD
Securities Inc. and RBC Capital Markets, pursuant to which the
underwriters will purchase 2,185,000 common shares (the “Shares”)
of Atrium at a price of $11.45 per Share (the “Issue Price”) for
gross proceeds of $25,018,250 (the “Offering”). Atrium has also
granted to the underwriters an over-allotment option to purchase up
to an additional 327,750 Shares at the Issue Price, exercisable in
whole or in part at any time for a period of up to 30 days
following closing of the Offering, to cover over-allotments. If the
over-allotment option is exercised in full, the gross proceeds of
the Offering will total $28,770,987.50.
Atrium will use the net proceeds of the Offering
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 Offering is expected to close on or about
October 4, 2024 and is subject to certain conditions including, but
not limited to, the receipt of all necessary approvals, including
the approval of the Toronto Stock Exchange.
On or before September 24, 2024, the Company
will file with the securities commissions or other similar
regulatory authorities in each of the provinces of Canada
(excluding Quebec), a preliminary short form prospectus relating to
the issuance of the Shares. 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.
About Atrium
Canada’s Premier Non-Bank
Lender™
Atrium is a non-bank provider of residential and
commercial mortgages that lends in major urban centres in Canada
where the stability and liquidity of real estate are high. Atrium’s
objectives are to provide its shareholders with stable and secure
dividends and preserve shareholders’ equity by lending within
conservative risk parameters.
Atrium is a Mortgage Investment Corporation
(MIC) as defined in the Income Tax Act (Canada), so is not taxed on
income provided that its taxable income is paid to its shareholders
in the form of dividends within 90 days after December 31 each
year. Such dividends are generally treated by shareholders as
interest income, so that each shareholder is in the same position
as if the mortgage investments made by the company had been made
directly by the shareholder. For further information, please refer
to regulatory filings available at www.sedarplus.ca or Atrium’s
website at www.atriummic.com.
Forward-Looking Statements
This news release contains forward-looking
statements. Much of this information can be identified by words
such as “expect to,” “expected,” “will,” “estimated” or similar
expressions suggesting future outcomes or events, and includes the
expected use of proceeds and the expected closing date of the
Offering. Atrium believes the expectations reflected in such
forward-looking statements are reasonable but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current
information and expectations that involve a number of risks and
uncertainties, which could cause actual results or events to differ
materially from those anticipated. These risks include, but are not
limited to, risks associated with the ability to satisfy
regulatory, stock exchange and commercial closing conditions of the
Offering, the uncertainty associated with accessing capital markets
and the risks related to Atrium’s business, including those
identified in Atrium’s annual information form for the year ended
December 31, 2023 under the heading “Risk Factors” (a copy of which
may be obtained at www.sedarplus.ca). Forward-looking statements
contained in this news release are made as of the date hereof and
are subject to change. All forward-looking statements in this news
release are qualified by these cautionary statements. Except as
required by applicable law, Atrium undertakes no obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
For further information, please
contact
Robert G. GoodallChief Executive Officer |
John AhmadChief Financial Officer |
|
|
(416)
867-1053info@atriummic.comwww.atriummic.com |
Atrium Mortgage Investment (TSX:AI)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Atrium Mortgage Investment (TSX:AI)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024