Group 1 - The Company has completed an overnight offering of Preferred Shares, raising total gross proceeds of $92.2 million [1] - The Preferred Shares will trade on the Toronto Stock Exchange under the symbol FTN.PR.A [1] - The offering was led by National Bank Financial Inc. [1] Group 2 - The net proceeds from the offering will be invested in a high-quality portfolio of financial services companies, including major Canadian and U.S. banks [2] - The portfolio includes notable companies such as Bank of Montreal, Bank of America Corp., and Royal Bank of Canada [2] Group 3 - Effective December 1, 2025, the Company will provide holders of the Preferred Shares with fixed, cumulative monthly dividends at an annual rate of 7.25%, with a minimum rate of 6.00% until 2030 [4] - On or about the termination date, currently set for December 1, 2030, the Company will pay holders of the Preferred Shares $10.00 per Preferred Share [4]
Financial 15 Split Corp. Completes Overnight Offering of $92,220,000
Globenewswire·2025-11-25 15:02