Financial 15 Split Corp Completes Overnight Offering of $52,707,900
January 14 2021 - 8:19AM
Financial 15 Split Corp. (the “Company”) is pleased to announce it
has completed the overnight offering of 2,642,000 Preferred Shares
and 2,642,000 Class A Shares of the Company. Total gross proceeds
of the offering were $52.7 million, bringing the Company’s net
assets to approximately $407.7 million. The shares will trade on
the Toronto Stock Exchange under the existing symbols of FTN.PR.A
(Preferred Shares) and FTN (Class A Shares).
The Preferred Shares were offered at a price of
$10.15 per Preferred Share to yield 6.7% and the Class A Shares
were offered at a price of $9.80 per Class A Share to yield
15.4%.
The offering was co-led by National Bank
Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and
RBC Capital Markets, and also included BMO Capital Markets,
Canaccord Genuity Corp., Industrial Alliance Securities Inc.,
Richardson Wealth Limited, Raymond James Ltd., Desjardins
Securities Inc., Hampton Securities, Mackie Research Capital
Corporation, and Manulife Securities Incorporated.
The net proceeds of the offering will be used by
the Company to invest in an actively managed, high quality
portfolio consisting of 15 financial services companies made up of
Canadian and U.S. issuers as follows:
Bank of
Montreal |
National
Bank of Canada |
Bank of
America Corp. |
The Bank of
Nova Scotia |
Manulife
Financial Corporation |
Citigroup
Inc. |
Canadian
Imperial Bank of Commerce |
Sun Life
Financial Services of Canada Inc. |
Goldman
Sachs Group Inc. |
Royal Bank
of Canada |
Great-West
Lifeco Inc. |
JP Morgan
Chase & Co. |
The
Toronto-Dominion Bank |
CI Financial
Corp. |
Wells Fargo
& Co. |
Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Investors
should read the prospectus supplement to the Company’s short form
base shelf prospectus dated November 2, 2017 before investing.
Mutual funds are not guaranteed, their values change frequently,
and past performance may not be repeated. Please read the Company’s
publicly filed documents which are available at www.sedar.com.
For further information, please contact Financial 15 Split
Corp. Investor Relations at 416-304-4443 Toll free at
1-877-4-Quadra (1-877-478-2372) or visit www.financial15.com
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