Post by
Jmarks1 on Jun 18, 2014 6:39pm
Why does this company have class B shares that aren't listed
In light of the recent acquisition I'm looking into the company. Can someone explain why they have class B shares that aren't listed? There are so few of them I'm left wondering why they carry them on the books and didn't close them out when they did there share repurchase.
Oh and be sure to comment on the latest news!
TIA
Comment by
MOJOJONO on Jun 18, 2014 8:34pm
Interesting they did an $65.1MM equity raise January 8. https://www.stockhouse.com/news/press-releases/2014/01/08/pure-industrial-real-estate-trust-announces-131-4-million-of-property Class B might just have special rights ie. voting. I tried reading the MDA, but couldn't pin it down. The Cl B's can be converted into Cl A's.
Comment by
Jmarks1 on Jun 19, 2014 11:35am
Yea, best I could come up with reading MD&A is they may be the shares issued for insiders to buy with the borrowed funds from the company. Then they convert them to class A ? The only thing I didn't like in the info. Sheet is the shares will be issued regardless if this deal goes through.
Comment by
MOJOJONO on Jun 20, 2014 12:25am
Underwriters / deal makers gotta get paid ;), but why waste opportunitiy to get a hold of cash on hand?