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Firm Capital Mortgage Investment Corp. 5% Convertible Debenture New Issue

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Firm Capital Mortgage Investment Corp. is issuing $40M of 5% Convertible Unsecured Subordinated Debentures, maturing Sept-30-2028. The conversion price of $17.75 compared to the current price of $15.08, an 18% premium.

The Debentures will not be redeemable by Firm Capital before Sept-30-2024. Up to Sept-30-2026 they are redeemable providing the Firm Capital common share price is at least 125% of the Conversion Price. After Sept-30-2026, the Debentures are redeemable at par.

The new issue is expected to open at $100.50 and is recommended.

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