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Timbercreek Financial completes common stock offering

Timbercreek Financial Corp. has completed a sale of 4,302,000 of common shares for gross proceeds of about C$40.0 million.

The common shares were priced at C$9.30 apiece. Underwriters led by National Bank Financial Inc. and TD Securities Inc. were given an overallotment option to purchase up to an additional 645,300 common shares any time for up to 30 days following the closing of the offering.

The net proceeds will be used for general corporate purposes, particularly the funding of future investments.