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Financial 15 Split Corp. launches $400 million ATM offering

Financial 15 Split Corp. has filed a prospectus supplement dated January 21, 2026, qualifying the distribution of up to $200 million in Preferred Shares and up to $200 million in Class A Shares through an at-the-market distribution program. The mutual fund corporation, which invests primarily in dividend-yielding common shares of 14 Canadian and U.S. financial services companies including major banks and insurance firms, entered into an equity distribution agreement with National Bank Financial Inc. to act as agent for the offering.

The shares will be distributed at prevailing market prices on the Toronto Stock Exchange, where the Preferred Shares trade under symbol FTN.PR.A and Class A Shares under FTN. On January 20, 2026, the Preferred Shares closed at $10.55 and Class A Shares at $10.84. As of January 15, 2026, the net asset value per unit stood at $21.76. National Bank Financial Inc. will receive compensation of up to 2.5% of the gross sales price for both share classes.

Blake, Cassels & Graydon LLP serves as legal counsel to the Company, while Osler, Hoskin & Harcourt LLP represents the Agent. Total expenses related to commencing the offering, excluding agent compensation, are estimated at approximately $135,000. The offering has no minimum funding requirement and may terminate after raising only a portion of the maximum amount or none at all.

Company

Financial 15 Split Corp.

Law Firm / Organization
Blake, Cassels & Graydon LLP

Bank

National Bank Financial Inc.

Law Firm / Organization
Osler, Hoskin & Harcourt LLP
Public/Private Offering
Banking/Finance
$ 400,000,000
Active