Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date. Its investment objectives with respect to Class A Shares are to provide holders of Class A Shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

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Financial 15 Split Corp

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Post by Donwaanon Aug 30, 2023 2:26pm

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Post# 35612471

ATM equity programs

What affect has the ATM program had on FTN (or any spilt)? As long as Quadravest is selling shares above the NAV isn't it net cash positive for them? Keeping the commons/preferred balance is made more complicated though. Most splits moving away from the previous style discounted offerings to an ATM system seems a significant change. Or am I being mistaken about that?

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