Mount Logan Capital Inc. announced a private placement and has issued a term promissory note for gross proceeds of $7,500,000 on October 20, 2022. The transaction included participation from Lind Bridge L.P. Pursuant to the note, the investor has borrowed the loan amount and has agreed to pay interest to the lender on the unpaid principal amount of the note, including paid-in-kind interest at a rate per annum equal to 7.5% before and after demand, maturity, default and/or judgment until the full and final repayment of the principal amount. Interest shall be calculated, compounded and paid-in-kind in by being capitalized and added to the outstanding principal balance of the note quarterly in arrears on the first business day of the first month of each quarter commencing on January 3, 2023, and shall be payable on maturity date October 20, 2029, together with the outstanding principal amount.

The company has guaranteed the obligations of the investor under the note.