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TORONTO, Feb. 16, 2017 -- Atrium Mortgage Investment Corporation (TSX:AI) is pleased to announce that the underwriters of its previously completed public offering of common shares exercised in full their over-allotment option, resulting in the issue of an additional 380,250 shares. The exercise of the over-allotment option brings the total gross proceeds of the public offering to $34,545,712. The underwriting syndicate for the offering of shares was bookrun by TD Securities Inc. and RBC Capital Markets and co-led by CIBC Capital Markets, and included Scotiabank, BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Industrial Alliance Securities Inc. and Raymond James Ltd.
Atrium will use the net proceeds from the 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.
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.sedar.com or Atrium’s website at www.atriummic.com.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
For further information, please contact Robert G. Goodall President and Chief Executive Officer Jeffrey D. Sherman Chief Financial Officer (416) 867-1053 [email protected] www.atriummic.com
