Financial 15 Split Corp. Completes Preferred Offering
May 02 2018 - 9:12AM
Financial 15 Split Corp. (the “Company”) is pleased to announce it
has completed the offering of 2,035,942 Preferred Shares of the
Company. The Preferred Shares will trade on the Toronto
Stock Exchange under the existing symbol of FTN.PR.A.
The Preferred Share Offering was led by National
Bank Financial Inc., CIBC Capital Markets and BMO Capital Markets,
and was done in conjunction with the Exchange Offer announced on
April 9, 2018.
The exchange was offered to holders of SCITI
Trust units, whereby one Class A Share of the Company was issued in
exchange for 1.17614 freely-tradable listed units of SCITI
Trust. The investment fund manager of SCITI Trust confirmed
on March 21, 2018 that SCITI Trust would be terminating on its
scheduled termination date of April 30, 2018. At that time,
SCITI Trust will distribute to its unitholders, including the
Company, the net asset value of SCITI Trust in cash.
The total value of the Exchange Offer and
Preferred Share offering is expected to be approximately $39.1
million, including 2,394,550 units of SCITI Trust, bringing the
Company’s net assets to approximately $613.3 million.
Commissions, trailing commissions, management
fees and expenses all may be associated with mutual fund
investments. Investors should read the prospectus supplement to the
Company’s short form base shelf prospectus dated November 2, 2017
before investing. Mutual funds are not guaranteed, their values
change frequently and past performance may not be repeated. Please
read the Company’s publically filed documents which are available
at www.sedar.com.For further information, please contact Financial
15 Split Corp. Investor Relations at
416-304-4443 Toll free at
1-877-4-Quadra (1-877-476-2372) or
visit www.financial15.com
Financial 15 Split (TSX:FTN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Financial 15 Split (TSX:FTN)
Historical Stock Chart
From Jul 2023 to Jul 2024