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TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI, AI.DB.D, AI.DB.E, AI.DB.F, AI.DB.G)) ("Atrium") announced today that it has entered into an agreement with a syndicate of underwriters bookrun by TD Securities Inc. and RBC Capital Markets, pursuant to which the underwriters will purchase 2,185,000 common shares (the "Shares") of Atrium at a price of $11.45 per Share (the "Issue Price") for gross proceeds of $25,018,250 (the "Offering"). Atrium has also granted to the underwriters an over-allotment option to purchase up to an additional 327,750 Shares at the Issue Price, exercisable in whole or in part at any time for a period of up to 30 days following closing of the Offering, to cover over-allotments. If the over-allotment option is exercised in full, the gross proceeds of the Offering will total $28,770,987.50.
Atrium will use the net proceeds of the Offering to repay existing indebtedness under its revolving operating credit facility, which will then be available to be drawn, as required, for general corporate purposes, particularly funding future mortgage loan opportunities.
The Offering is expected to close on or about October 4, 2024 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.
On or before September 24, 2024, the Company will file with the securities commissions ...
