Atrium Mortgage Investment Corporation completes C$28.77M public offering of common shares
On October 25, 2024, Atrium Mortgage Investment Corporation (“Atrium”) completed its previously announced bought deal public offering of 2,512,750 common shares through a syndicate of underwriters at a price of C$11.45 per share for gross proceeds of approximately C$28.77 million. The proceeds include the exercise in full of an over-allotment option granted to the underwriters. Atrium plans to 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 underwriters were bookrun by TD Securities Inc. and RBC Capital Markets and co-led by CIBC Capital Markets, and included National Bank Financial Inc., BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., iA Private Wealth Inc. and Raymond James Ltd.
Atrium, based in Toronto, provides residential and commercial mortgage loans in major urban centres across Canada.
McCarthy Tétrault LLP advised the underwriters with a team led by Andrew Parker that included Michael Eldridge, Gurvir Sangha (Business), Michel Ranger, Kathryn Walker (Tax), Laura Alford, and Rita Iafrate (Real Property and Planning).
