360 Capital Mortgage REIT Launches $45.2 million Entitlement Offer

Highlights:

• Capital Raising: 360 Capital Mortgage REIT (ASX: TCF) launches a 1-for-1 non-renounceable entitlement offer to raise up to AUD $45.2 million at $5.94 per unit.
• Discounted Pricing: Offer price represents a 0.7% discount to the last close and around 1.3–1.4% to recent VWAPs.
• Use of Proceeds: Funds to support new loan investments and further diversify the trust’s portfolio, with units eligible for distributions from October 2025.

Non-Renounceable Offer Details

360 Capital FM Limited (ASX: TCF), as responsible entity of the 360 Capital Mortgage REIT, has unveiled a one-for-one non-renounceable entitlement offer to raise up to AUD $45.2 million. At the time of writing, the offer price has been set at AUD $5.94 per unit, matching the trust’s net asset value. This represents a discount of 0.7% to the closing price on 10 September 2025 and around 1.3–1.4% to the 10-day and 30-day VWAPs.

Under the entitlement offer, eligible unitholders on record as of 16 September 2025 can acquire one new unit for every unit held. The issue will open on 18 September and close on 30 September 2025. Unlike renounceable offers, entitlements under this offer cannot be traded or transferred. Unitholders who do not participate risk dilution of their ownership.

Oversubscription and Shortfall Placement

The offer also features an oversubscription facility, giving investors who take up their full entitlement the chance to purchase extra units at the same price. Any units not subscribed through the entitlement or oversubscription process will be placed under a shortfall offer to wholesale investors. Units issued through the offer will carry the same rights as existing units and will begin receiving monthly distributions from October 2025 onwards.

Use of Funds and Market Outlook

Proceeds are expected to be directed towards new loan investments currently under due diligence, helping diversify the trust’s portfolio in line with its lending strategy. Since its inception, the trust has regularly delivered returns above its benchmark, exceeding the RBA cash rate by an average margin of 4.85% per annum against its target of RBA cash rate plus 4%.The entitlement offer is supported by joint lead managers Ord Minnett, Shaw and Partners, MST Financial, and Morgans Financial.

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