ECN Capital ( (TSE:ECN) ) has shared an update.
ECN Capital Corp. announced the closing of an additional C$8 million offering of 6.50% convertible senior unsecured debentures, following the exercise of an over-allotment option by a syndicate of underwriters. This brings the total gross proceeds from the offering to C$83 million, which will support the company’s operations and potentially enhance its market position by providing high-quality assets to its partners.
More about ECN Capital
ECN Capital Corp. is a leading provider of business services to North American-based banks, institutional investors, insurance companies, pension plans, banks, and credit union partners. The company specializes in originating, managing, and advising on credit assets, particularly consumer loans for manufactured housing, recreational vehicles, and marine, as well as commercial loans for floorplan and rental purposes. ECN Capital operates through two segments: Manufactured Housing Finance and Recreational Vehicle and Marine Finance.
YTD Price Performance: -18.10%
Average Trading Volume: 162,125
Technical Sentiment Signal: Buy
Current Market Cap: C$736.6M
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