ECN Capital Closes $100MM Preferred Share Offering
MAY 26, 2017 - 7:23 am
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.”
Breakthrough innovation doesn’t just happen. It requires an environment of trust, teamwork and transparency to sprout and thrive in a business setting. A genuine connection with a coworker, while it can’t be mandated by your employer, doesn’t happen accidentally. Getting... read more
The current environment for funding sources is marred by many of the same challenges facing the greater equipment finance industry, with supply chain constraints, geopolitical tension and soon to be increasing interest rates among the many factors playing into the... read more