11:06:43 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Firm Capital Property Trust
Symbol FCD
Shares Issued 9,454,487
Close 2015-07-31 C$ 5.58
Market Cap C$ 52,756,037
Recent Sedar Documents

Firm Capital arranges $10.08-million private placement

2015-08-04 09:46 ET - News Release

Mr. Robert McKee reports

FIRM CAPITAL PROPERTY TRUST ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT FOR UP TO $10 MILLION

Firm Capital Property Trust (FCPT) is proceeding with a non-brokered private placement in which it will raise up to $10.08-million and issue up to 1.8 million units of the trust at a price of $5.60 per unit. The trust will pay a finder's fee of 5.0 per cent of the gross proceeds to certain eligible persons and or dealers for subscriptions to the offering completed by qualified investors. The trust will use the proceeds of the private placement to repay all or a portion of its credit facility, strengthen the trust's balance sheet and to finance future acquisitions.

On July 27, 2015, the trust announced that its board of trustees approved a 5.0-per-cent increase in its monthly distributions to 3.5 cents per unit up from 3.3333 cents per unit starting with the November distribution payable on Dec. 15, 2015, subject to closing of the Waterloo acquisition. On an annualized basis, this equates to distributions of 42 cents per unit up from 40 cents per unit, yielding 7.5 per cent based on the $5.60 issue price.

We seek Safe Harbor.

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