On June 29, 2022, Brompton Split Banc Corp. announced an at-the-market offering of up to $50 million, consisting of $25 million in Preferred Shares and $25 million in Class A Shares. The offering was conducted through RBC Dominion Securities Inc. as the agent under an equity distribution agreement. The shares, listed on the Toronto Stock Exchange (TSX) under the symbols SBC.PR.A and SBC, were sold at prevailing market prices, with RBC Dominion Securities receiving a commission of $0.25 per Preferred Share and up to 2.5% per Class A Share. Brompton Split Banc Corp., a mutual fund corporation, invests primarily in Canada’s six largest banks, with up to 10% of its portfolio allocated to global financial companies.

The Preferred Shares offer fixed, cumulative preferential quarterly distributions, while the Class A Shares provide monthly distributions and potential capital appreciation. The offering closed on April 26, 2023, or earlier if fully subscribed.

Osler, Hoskin & Harcourt LLP acted as legal counsel for the company, while Stikeman Elliott LLP advised the agent. The TSX conditionally approved the listing, subject to standard requirements.