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Underwriters exercise overallotment option for Timbercreek Financial shares


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Underwriters exercise overallotment option for Timbercreek Financial shares

Timbercreek Financial Corp. announced that underwriters have partially exercised their overallotment option to purchase an additional 545,300 common shares at a price of C$9.30 per share for additional gross proceeds of C$5.1 million.

Net proceeds from the exercise of the overallotment option will be used to repay amounts under the company's secured revolving credit facility. The company will subsequently draw on the credit facility to fund future investments.

The syndicate of underwriters were led by National Bank Financial Inc. and TD Securities Inc. and included RBC Dominion Securities Inc., CIBC World Markets Inc., Raymond James Ltd., BMO Nesbitt Burns Inc., Scotia Capital Inc., GMP Securities LP, Canaccord Genuity Corp., Industrial Alliance Securities Inc. and Manulife Securities Inc.