On May 29, 2017, Firm Capital American Realty Partners Corp. (the “Corporation”) (TSXV: FCA / FCA.U) announced the closing of its previously announced public offering of 850,160 units of the Corporation, including offered units issued pursuant to the partial exercise of the over-allotment option, raising approximately US$6.3 million. Canaccord Genuity Corp. acted as the underwriter.
The Corporation completed the offering at a price of US$7.50 or C$10.24 per offered unit. (Investors had the option of subscribing for the offering in either US or Canadian dollars.) Each offered unit consisted of one common share of the Corporation and one common share purchase warrant of the Corporation (an “offered warrant”). Each offered warrant will entitle the holder to purchase one common share of the Corporation at an exercise price of US$8.50 for a period of 36 months from the closing date of the offering.
The TSX Venture Exchange (the “TSXV”) conditionally approved the listing of the common shares issued under the offering for trading in Canadian dollars under the symbol “FCA”, alongside the Corporation’s existing common shares that trade in US dollars under the symbol “FCA.U”. The TSXV has also approved the listing of the offered warrants for trading in US dollars under the symbol “FCA.WT.U”.
Miller Thomson advised the Corporation in this transaction with a team consisting of Lawrence Wilder, Tom Koutoulakis, Jonathan Tong, Philip Long and Rhea Solis (securities) and Neil Gurmukh (tax), assisted by student-at-law Victoria de Luna.