Mount Logan Capital Inc. announced it has completed non-brokered private placement of 18,752 privately placed debenture units at issue price $1,002.559726962457 for a gross proceeds $18,800,000 on January 29, 2024. Each unit consists of one 8.85% paid-in-kind unsecured debenture in the principal amount of $1,000, and 50 common share purchase warrants of the company. Each warrant to acquire one common share of Mount Logan at a price of $2.044515 (CAD 2.75) per share.

Each Debenture matures eight years following the closing of the Offering and bears interest at a rate of 8.85% per annum from the date of issue, accruing quarterly and compounded annually and payable on the Maturity Date. Each Warrant is exercisable into one common share of the Company at a price of $2.044515 (CAD 2.75) per share until January 25, 2032, provided that the Warrants are not exercisable prior January 25, 2025. The company raised ($18.752 million) pursuant to exemption provided under Regulation D. The transaction will include participation from 4 investors.