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AmeriTrust Announces Closing of Second and Final Tranche of Brokered Offering
Accessnewswire· 2026-01-15 17:50
Core Viewpoint - AmeriTrust Financial Technologies Inc. has successfully closed the second tranche of its brokered offering, raising a total of $39,552,200 to support its automotive finance operations and lease origination efforts [1][2]. Financing Details - The second tranche of the offering raised an additional $3,365,000, following the first tranche which closed on December 23, 2025, for $36,187,200, bringing total gross proceeds to $39,552,200 [1]. - The second tranche included the issuance of 2,500 Debenture Units at $1,000 each, generating $2,500,000, and 17,300,000 Life Units at $0.05 each, generating $865,000 [3]. Management and Strategic Developments - Jeff Morgan, CEO of AmeriTrust, expressed gratitude to existing and new shareholders and highlighted the management team's participation in the financing, indicating strong commitment [2]. - John Wimsatt has been appointed as Chief Investment Officer, bringing experience from ECN Capital Corp. to help secure additional lease origination funding [2]. Use of Proceeds - The net proceeds from the offering will be utilized to restart lease originations in Q1 2026 and for working capital purposes [5]. Regulatory and Compliance Information - The LIFE Offering was conducted under the "listed issuer financing exemption" as per Canadian securities regulations [4]. - The Debenture Units and Broker Warrants are subject to a statutory hold period until May 16, 2026, while the Life Units are not [7]. Advertising and Investor Awareness - AmeriTrust has engaged Dig Media Inc. for an advertising and investor awareness campaign, costing $40,000, to enhance visibility among investors [8][9].
AmeriTrust Announces Closing First Tranche of Brokered Offering for $36,187,200
Accessnewswire· 2025-12-23 20:10
Core Viewpoint - AmeriTrust Financial Technologies Inc. has successfully closed the first tranche of its brokered offering, raising a total of $36,187,200 through the issuance of Debenture Units and Life Units [1] Group 1: Offering Details - The company issued 20,850 Debenture Units at a price of $1,000 per unit, resulting in gross proceeds of $20,850,000 [1] - The offering was conducted on a private placement basis, indicating a targeted approach to raising capital [1] Group 2: Financial Implications - The total gross proceeds from the offering amount to $36,187,200, highlighting the company's ability to attract significant investment [1]
AmeriTrust Announces the Launch of Lease Originations and an Amended Brokered Offering of up to $40,000,000
Accessnewswire· 2025-12-09 00:00
Core Viewpoint - AmeriTrust Financial Technologies Inc. is launching an amended brokered offering to raise capital for its automotive finance operations, including a Debenture Offering of up to $25 million and a LIFE Offering of up to $15 million, with the potential for increases through the Agents' Option [1][3]. Group 1: Offering Details - The Debenture Offering will consist of up to 25,000 units priced at $1,000 each, aiming for gross proceeds of up to $25 million, with each unit including a convertible debenture and warrants [6][13]. - The LIFE Offering will consist of up to 300 million units priced at $0.05 each, targeting gross proceeds of up to $15 million, with each unit including a common share and a warrant [13][14]. - The Closing Date for the Offering is anticipated around December 17, 2025, pending regulatory approvals [3][4]. Group 2: Use of Proceeds - The net proceeds from the Offering will be utilized to restart lease originations in Q1 2026, funding both "flow" and "haircut capital" under a bankruptcy remote trust [4][5]. - The capital raised is expected to catalyze new originations, enhance revenue generation, and support overall growth, with initial operations starting in Texas and plans for expansion into Florida and California [5][20]. Group 3: Financial Structure - The Debentures will mature in five years, with an interest rate of 8% per annum, payable quarterly, and will be convertible into common shares at a conversion price of $0.085 [7][8]. - The Company has the right to force early conversion of the Debentures if certain trading price conditions are met, providing additional interest payments to holders [9][10]. - The Debentures will rank senior to other unsecured obligations and will not be subordinated without majority holder consent [11][12]. Group 4: Agent Commissions and Options - Agents will receive a cash commission of 6% on the gross proceeds from the Debenture Offering and 5% from the LIFE Offering, along with broker warrants as additional compensation [16][17]. - An Agents' Option allows for the issuance of additional units for up to $6 million to cover over-allotments, with specific limits on LIFE Units [18].