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Firm Capital Mortgage Investment Trust - New Convertible Debenture

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Firm Capital Mortgage Investment Trust (FC) is issuing $25M - 5.4% Convertible Unsecured Subordinated Debentures maturing on Jun-30-2025. The conversion price is $15.00 representing a 14% premium to the current share price of $13.16 This issue will close on or about Jun-21-2018.

The Debentures are not redeemable before Jun-30-2021. After Jun-30-2021 up to Jun-30-2023, they are redeemable provided the share price greater than 125% of the Conversion Price. After Jun-30-2023 the debentures are redeemable at any time up to maturity on Jun-30-2025.

This issue is expected to open at $100 and is recommended mainly for income.

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