MCAN Mortgage Corporation Supplement ATM and Rights Offering
Goodmans LLP acted for MCAN Mortgage Corporation in connection with its supplement at-the-market equity program (“ATM Program”) and rights offering.
The ATM Program allows the Company to issue up to $30,000,000 (the "Maximum Amount") of common shares ("Common Shares") from treasury to the public from time to time.
A $33,000,000 rights offering was subsequently made eligible to holders of MCAN’s common shares of record on November 15, 2021. Pursuant to the rights offering, each holder of common shares received on right for each common share held. Every 14 rights entitled the holder to subscribe for one whole common share of the company at a price of $16.86 per common share.
MCAN is a public company listed on the Toronto Stock Exchange under the symbol MKP and is a reporting issuer in all provinces and territories in Canada. MCAN also qualifies as a mortgage investment corporation ("MIC") under the Income Tax Act (Canada) (the "Tax Act").
Expertise
Featured Work
-
Mergers and Acquisitions
NexPoint Hospitality Trust to be acquired by NexPoint Diversified Real Estate Trust
Goodmans LLP is advising NexPoint Hospitality Trust in connection with its announced acquisition by NexPoint Diversified Real Estate Trust… -
Capital Markets
Cormark Securities Inc. leads $51.75 million bought deal offering for Kraken Robotics
Goodmans LLP acted for the underwriters in connection with a bought deal short form prospectus offering of over 32.3 million common shares of Kraken Robotics Inc. for gross proceeds of C$51.75 million… -
SPACS
FG Acquisition Corp. completes acquisition of Strong/MDI Screen Systems Inc. and launches Saltire Capital Ltd.
Goodmans LLP acted for FG Acquisition Corp. ("FGAC"), a special purpose acquisition company in connection with its acquisition of Strong/MDI Screen Systems, Inc., a leading manufacturer and… -
Banking and Financial Services
Majority interest in Vault Credit Corporation and Vault Home Credit Corporation sold for $60 Million to HB Leaseco affiliate
Goodmans LLP represented Vault Credit Corporation and Vault Home Credit Corporation in the sale of Chesswood Group Limited's entire interest in Vault to an affiliate of HB Leaseco Holdings Inc., in… -
Capital Markets
Saba Capital reaches agreement with Citadel Income Fund
Goodmans LLP acted for Saba Capital Management, L.P. in relation to its agreement with Citadel Income Fund and its manager, Artemis Investment Management Limited following a protracted dispute… -
Capital Markets
RioCan REIT completes private placement offering of $300 million Series AK debentures
Goodmans LLP advised RioCan Real Estate Investment Trust in connection with a brokered private placement offering of $300 million principal amount of Series AK senior unsecured debentures…