Equitable Group Inc. successfully completed its previously announced bought deal offering of 769,231 common shares at a price of $32.50 a share for aggregate gross proceeds of approximately $25 million on Monday.

The bought deal with a syndicate of underwriters was co-led by Cormark Securities Inc. and BMO Capital Markets, and included Blackmont Capital Inc. and GMP Securities LP.

“The net proceeds of this offering will immediately bolster the Tier 1 regulatory capital of Equitable Trust, our wholly-owned subsidiary, and provide us with a broader foundation to support efficient growth,” said Andrew Moor, president and CEO of Equitable Group. “This represents the first time we have issued new shares publicly since our IPO three years ago and we believe this initiative is appropriate given Equitable’s long-term opportunities and desire to fund our ongoing progress.”