How 360 Capital Mortgage REIT Raised A$1.71M Without Brokerage Costs
360 Capital Mortgage REIT has successfully raised A$1.71 million by issuing 288,540 new units under a non-underwritten Unit Purchase Plan, strengthening its capital base without incurring brokerage costs.
- Raised A$1.71 million via Unit Purchase Plan
- Issued 288,540 new units at A$5.94 each
- Plan offered to eligible Australian and New Zealand unitholders
- No brokerage or transaction costs for participants
- Units to commence trading on 2 July 2025
Capital Raise Details
360 Capital Mortgage REIT (ASX, TCF) has completed a non-underwritten Unit Purchase Plan (UPP), successfully raising approximately A$1.71 million. The plan allowed eligible unitholders in Australia and New Zealand to subscribe for new fully paid ordinary units without incurring brokerage or transaction fees. A total of 288,540 new units were applied for and accepted, each priced at A$5.94.
Implications for Investors
The new units will be issued on 1 July 2025 and are expected to begin trading the following day, ranking equally with existing units. This capital raising approach, conducted under ASX Listing Rule 7.2 Exception 5, did not require unitholder approval, streamlining the process and reflecting confidence in the trust’s governance and investor base.
Strategic Context
360 Capital Mortgage REIT focuses on providing investors access to credit opportunities secured by Australian real estate assets, aiming to deliver regular monthly income through disciplined asset selection and risk management. While the announcement does not specify the intended use of the proceeds, such capital injections typically support ongoing lending activities or portfolio expansion, potentially enhancing future income streams.
Market and Regulatory Considerations
The absence of brokerage fees and the non-underwritten nature of the plan suggest a cost-effective capital raise that relies on existing unitholder support. The trust’s management, including Executive Chairman Tony Pitt and CEO James Storey, expressed gratitude to participants, signaling strong engagement with their investor community. Investors will be watching closely for how the additional capital translates into operational growth or improved distributions.
Looking Ahead
As the new units begin trading, market participants will assess the impact on unit liquidity and valuation. The trust’s ability to deploy the raised funds effectively will be critical in maintaining investor confidence and delivering on its income objectives.
Bottom Line?
This capital raise marks a solid step for 360 Capital Mortgage REIT, but the real test lies in how the new funds are deployed to drive future growth.
Questions in the middle?
- What specific projects or investments will the raised capital support?
- How will the issuance of new units affect the trust’s distribution yield?
- Will 360 Capital Mortgage REIT pursue further capital raises or strategic initiatives soon?
