ECN Capital Closes $100MM Preferred Share Offering



ECN Capital closed the previously announced offering of 4,000,000 6.25% cumulative 5-year minimum rate reset preferred shares, Series C at a price of $25 per share for aggregate gross proceeds of $100 million.

The offering was conducted by a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial, RBC Capital Markets, TD Securities, and including Cormark Securities, Desjardins Securities, GMP Securities, HSBC Securities (Canada) and Raymond James.

ECN intends to use the net proceeds to originate and finance, directly and indirectly, finance assets, to fund future acquisitions and for general corporate purposes.

“We are grateful for the support shown by the market in the successful completion of this financing”, said Steve Hudson, CEO. “And we look forward to executing on our business plan and delivering value for our shareholders.”


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com