Financial 15 Split Corp. Completes Overnight Offering of $92,220,000

Executive Summary

• Financial 15 Split Corp. completed an overnight offering of Preferred Shares, raising $92.2 million in gross proceeds.
• The net proceeds will be invested in a diversified portfolio of Canadian and U.S. financial‑services companies.
• The newly issued Preferred Shares will trade on the TSX under symbol FTN.PR.A and carry a fixed cumulative monthly dividend of 7.25% annually (minimum 6.00% until 2030) with a redemption price of $10.00 per share at maturity.

Key Details

• Offering Size: $92.2 million gross proceeds from the sale of Preferred Shares (TSX: FTN.PR.A).
• Trading Symbol: FTN.PR.A on the Toronto Stock Exchange, effective immediately after closing.
• Lead Underwriter: National Bank Financial Inc.
• Use of Proceeds: Investment in an actively managed portfolio of high‑quality financial services companies, including:
• Canadian banks: BMO, Scotiabank, CIBC, RBC, TD, etc.
• U.S. banks and financial institutions: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Wells Fargo.
• Insurance and asset managers: Manulife, Sun Life, Great‑West Lifeco.
• Preferred Share Terms:
• Fixed cumulative monthly dividend at an annual rate of 7.25%, determined annually by the Board (minimum 6.00% until 2030).
• Redemption price of $10.00 per Preferred Share on or about December 1, 2030, with possible five‑year extensions thereafter.
• Regulatory References: Investors directed to read the prospectus supplement to the Company’s short‑form base shelf prospectus dated December 19, 2023; mutual fund risks disclosed.

Notable Quotes

(No CEO/President quotes provided in the release.)