Firm Capital Mortgage Investment Corporation Completes $25 Million Bought Deal Financing

Executive Summary

• Firm Capital Mortgage Investment Corp. closed a $25 M public offering of 5.50% convertible unsecured subordinated debentures (due 2032) with an over‑allotment option that could increase gross proceeds to $28.75 M.
• Net proceeds will be used to repay indebtedness, strengthening the corporation’s balance sheet.
• The debentures are listed on the TSX under “FC.DB.M”, bear semi‑annual interest, and are convertible at $14.06 per share; redemption provisions become effective after December 31 2028.

Key Details

• Offering Size: $25,000,000 aggregate principal amount of 5.50% convertible unsecured subordinated debentures.
• Over‑Allotment Option: Up to an additional $3,750,000 (gross proceeds could reach $28,750,000).
• Underwriters: Syndicate led by CIBC Capital Markets and TD Securities Inc.; participants include Canaccord Genuity, National Bank Financial, RBC Capital Markets, Scotiabank, ATB Securities, Desjardins Securities, iA Private Wealth, Raymond James Ltd., Ventum Financial.
• Listing Symbol: “FC.DB.M” on the Toronto Stock Exchange.
• Interest Rate & Payment: 5.50% per annum, payable semi‑annually in arrears on the last day of June and December, starting Dec 31 2025.
• Maturity: December 31 2032.
• Conversion Terms: Convertible at holder’s option into common shares at $14.06 per share (subject to adjustments) prior to the earlier of maturity or redemption notice date.
• Redemption Features:
• Not redeemable before Dec 31 2028.
• Between Dec 31 2028 and Dec 31 2030, redeemable at par plus accrued interest if TSX weighted‑average price ≥125% of conversion price over the prior 20 trading days.
• After Dec 31 2030, redeemable at any time at par plus accrued interest.
• Use of Proceeds: Net proceeds will be applied to repay existing indebtedness.
• Prospectus Reference: Details in prospectus supplement dated Oct 8 2025 (short‑form base shelf prospectus dated July 29 2024) filed with Canadian securities regulators; available on SEDAR+.

Notable Quotes

• “The successful closing of this offering provides us with the capital needed to reduce our debt load and further support our mortgage lending strategy,” – Eli Dadouch, President & CEO.