Atrium Mortgage Investment Corporation Completes $25 Million Public Offering of Common Shares

Core Viewpoint - Atrium Mortgage Investment Corporation has successfully closed a bought deal public offering of 2,185,000 common shares at a price of $11.45 per share, raising gross proceeds of $25,018,250 [1] Group 1: Offering Details - The offering was managed by a syndicate of underwriters led by TD Securities Inc. and RBC Capital Markets, with participation from CIBC Capital Markets, National Bank Financial Inc., BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., iA Private Wealth Inc., and Raymond James Ltd [1] - Atrium has granted underwriters an over-allotment option to purchase an additional 327,750 common shares at the issue price within 30 days following the closing [1] Group 2: Use of Proceeds - The net proceeds from the offering will be used to repay existing indebtedness under Atrium's revolving operating credit facility, which will then be available for general corporate purposes, particularly for funding future mortgage loan opportunities [2] Group 3: Company Overview - Atrium is a non-bank provider of residential and commercial mortgages, focusing on major urban centers in Canada where real estate stability and liquidity are high [4] - The company aims to provide stable and secure dividends to shareholders while preserving equity by lending within conservative risk parameters [4] - As a Mortgage Investment Corporation (MIC), Atrium is not taxed on income as long as its taxable income is distributed to shareholders as dividends within 90 days after the fiscal year-end [4]