Firm Capital Mortgage Investment Corporation Announces $20 Million Bought Deal Financing

Core Viewpoint - Firm Capital Mortgage Investment Corporation has announced a bought deal offering of $20 million in 5.50% convertible unsecured subordinated debentures, with potential total proceeds of $23 million if the over-allotment option is fully exercised [1][2]. Group 1: Offering Details - The offering consists of $20 million aggregate principal amount of debentures priced at $1,000 each, with an over-allotment option for an additional $3 million [1]. - The expected closing date for the offering is around October 14, 2025, pending necessary regulatory approvals [2]. - The debentures will bear interest at a rate of 5.50% per annum, payable semi-annually, and will mature on December 31, 2032 [3]. Group 2: Conversion and Redemption - Holders of the debentures can convert them into common shares at a conversion price of $14.06 per share before the maturity date [3]. - The debentures are not redeemable before December 31, 2028, and can be redeemed at the Corporation's option under specific conditions thereafter [4]. - The Corporation has the right to repay the principal amount of the debentures through the issuance of shares upon maturity or redemption [6]. Group 3: Corporate Structure and Purpose - The debentures will be direct, unsecured obligations of the Corporation, subordinated to senior indebtedness [5]. - The net proceeds from the offering will be utilized for debt repayment and general corporate purposes [2]. - Firm Capital Mortgage Investment Corporation operates as a non-bank lender, focusing on residential and commercial short-term financing [11].