MCAN Mortgage (TSE:MKP) has released an update.
MCAN Financial Group successfully completed its overnight marketed offering, issuing 1,868,750 common shares at $15.40 each to raise $28.78 million. The proceeds are earmarked for expansion of the company’s residential mortgage and construction lending businesses. The offering, excluding Quebec, was detailed in a prospectus supplement and received full exercise of the over-allotment option, indicating strong investor confidence.
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