North America Home Finance closes IPO, lists on CSE

Executive Summary

• North America Home Finance Inc. has completed its initial public offering (IPO) and is listing its common shares on the Canadian Securities Exchange (CSE) under the ticker symbol "NAHF," with trading expected to commence on February 26, 2026.
• The company raised aggregate gross proceeds of $1.7 million through the sale of 3.4 million units at a price of $0.50 per unit.
• The offering includes the issuance of warrants to investors, broker warrants, and the conversion of $1.7 million in outstanding debt obligations into common shares and warrants.

Key Details

• Offering Structure: The company sold 3.4 million units at $0.50 per unit, generating $1.7 million in gross proceeds.
• Warrant Terms (Investors): Each unit included one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable at $0.85 per common share for a period of 24 months following closing. Warrants trade under ticker "NAHF.WT".
• Debt Conversion: In connection with the final prospectus, the company issued 3,595,204 common shares and 1.7 million common share purchase warrants (exercisable at $0.85/share for 24 months) to satisfy debt obligations with an aggregate principal amount of $1.7 million.
• Over-Allotment Option: The agent (Hampton Securities Ltd.) has a 30-day option to purchase up to 15% additional units and/or warrants.
• Agent Compensation:
  • Cash commission: 7% of aggregate gross proceeds.
  • Corporate finance fee: $165,000.
  • Broker warrants: 238,000 warrants issued, exercisable at $0.50 per share for 24 months post-closing.
• Use of Proceeds: Net proceeds will be used to repay certain liabilities, finance general corporate purposes (including G&A expenses), support working capital, and cover listing/reporting issuer costs.
• Exchange Offering: The company is conducting an exchange offering allowing holders of certain previously issued bonds and rights to exchange them for Series 1 non-voting preferred shares at a fixed value of $10.35 per housing share to strengthen the balance sheet.
• Company Model: North America Home Finance focuses on residential real estate development and shared-equity pathways (HomePlan program) to allow residents to build equity while living in rental housing.

Notable Quotes

• "This marks a significant milestone for NAHF... We believe we are introducing a new category of public company in Canada, which we refer to as a 'shared equity housing corporation' that supports housing market stability, resident equity participation and long-term asset performance." — George Lawton, CEO