And it was pretty good…
Trinity Merger Corp., which recently announced the closing of their business combination with Broadmark Realty Capital Inc. (BRMK), filed additional documents yesterday, via an 8-K. Albeit, under the new company name of Broadmark Realty Capital. However, contained within the 8-K were the results of their combination vote.
Per the 8-K, there were 7,899,028 shares of Trinity Class A Common Stock that were redeemed at the shareholder vote at a per share price of approximately $10.45352229. That means, approximately $82,572,665 was removed from trust leaving $278,073,851 cash for the combination. That’s only 22.9% redeemed, which is pretty good, all things considered. That also means approximately 26,600,972 million SPAC public shares will remain in Broadmark’s float.
Additionally, including shares issued in the transaction and founder shares, immediately after the Closing, the Company had 132,014,635 shares of Broadmark Realty Common Stock outstanding total. Furthermore, Broadmark has 41,674,613 Company Public Warrants outstanding and 5,186,676 Company Private Placement Warrants outstanding.
As a reminder, the Broadmark Realty Common Stock is now listed on he NYSE under the symbol “BRMK” and the Company’s Public Warrants are listed on the NYSE American LLC (“NYSE Amex”) under the ticker symbol “BRMK WS.
- 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