Firm Capital Mortgage Investment Corporation Announces Upsizing of Previously Announced Bought Deal Offering

Executive Summary

• Firm Capital Mortgage Investment Corporation increased its bought‑deal offering to a total potential gross proceeds of $28.75 million (including the over‑allotment option).
• The offering consists of 5.50% convertible unsecured subordinated debentures due 2032, priced at $1,000 per debenture with a conversion price of $14.06 per share.
• Net proceeds will be used to repay debt and for general corporate purposes; the closing is expected around October 14, 2025.

Key Details

• Original Offering Size: $25 million aggregate principal amount.
• Over‑Allotment Option: Up to an additional $3.75 million (total potential gross proceeds $28.75 million).
• Interest Rate: 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; not redeemable before Dec 31 2028.
• Redemption Terms:
• After Dec 31 2028 – prior to Dec 31 2030: redeemable at par + accrued interest if TSX weighted‑average price ≥ 125% of the $14.06 conversion price over the preceding 20 trading days.
• After Dec 31 2030: redeemable at any time at par + accrued interest.
• Conversion Rights: Holder may convert at any time before the earlier of maturity or the business day preceding a redemption notice, at $14.06 per share (subject to adjustments).
• Ranking: Direct, unsecured obligations; subordinated to senior debt; pari‑passu with existing convertible debentures.
• Use of Proceeds: Debt repayment and general corporate purposes.
• Closing Date: Expected on or about October 14 2025, subject to regulatory approvals and customary conditions.
• Underwriters: Syndicate led by CIBC Capital Markets and TD Securities.
• Prospectus Information: Issued under a short‑form base shelf prospectus dated July 29 2024; supplement to be filed no later than October 8 2025 and available on SEDAR+.

Notable Quotes

(No executive quotes were included in the release.)