Firm Capital Mortgage Investment Corporation Announces Partial Exercise of Over-Allotment Option

Core Points - Firm Capital Mortgage Investment Corporation announced the partial exercise of the over-allotment option for its offering of 5.50% convertible unsecured subordinated debentures, resulting in an additional $3,150,000 issued, bringing the total to $28,150,000 [1][2] - The underwriting syndicate for the debenture offering was led by CIBC Capital Markets and TD Securities Inc., along with several other financial institutions [2] - The net proceeds from the over-allotment option will be utilized to repay existing indebtedness [2] Company Overview - Firm Capital Mortgage Investment Corporation is an investor in mortgages through its mortgage banker, Firm Capital Corporation, which provides various financing options including residential and commercial real estate financing [5] - The Corporation's investment objective focuses on preserving shareholders' equity while providing a stable stream of monthly dividends from investments in niche markets underserved by larger lending institutions [5] - The Corporation has been operational since October 1999 and aims to develop a diversified mortgage portfolio to ensure stable returns for shareholders [5]