Atrium Mortgage Investment Corporation Announces Partial Exercise of Over-Allotment Option
March 05 2014 - 8:08AM
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.
About Atrium
As a mortgage investment corporation, 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.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
CONTACT: For further information, please contact
Robert G. Goodall
President and Chief Executive Officer
Jeffrey D. Sherman
Chief Financial Officer
(416) 607-4200
ir@atriummic.com
www.atriummic.com
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