Trinity Merger Corp. Announces Completion of Combination
To be renamed Broadmark Realty Capital Inc. (BRMK)
In light of the closing of the business combination, Trinity has cancelled its extension vote, previously scheduled for today, November 15, 2019.
Trinity Merger Corp. (TMCX) and the Broadmark real estate lending companies today announced the completion of their previously announced business combination. In connection with the completion of the business combination, the combined company was renamed Broadmark Realty Capital Inc. (“Broadmark Realty”).
Broadmark Realty’s common stock is expected to begin trading on the New York Stock Exchange on November 15, 2019 under the ticker symbol “BRMK”, and its warrants, exercisable for one-quarter of one share at an exercise price of $2.875 per one-quarter share ($11.50 per whole share), are also expected to begin trading under the ticker symbol “BRMK WS”.
Broadmark Realty is an internally managed real estate investment trust (REIT) specializing in short-term financing for the acquisition, renovation and development of residential and commercial properties. Broadmark Realty intends to declare a dividend prior to year-end, subject to board approval.
- B. Riley FBR, Inc. served as capital markets advisor and private placement agent to Trinity
- Gibson, Dunn & Crutcher LLP acted as Trinity’s legal advisor
- Raymond James & Associates, Inc. acted as Trinity’s financial advisor
- Bryan Cave Leighton Paisner LLP served as legal advisor to Broadmark
- CS Capital Advisors, LLC acted as financial advisor to Broadmark