Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.P.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.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav guesstimate@ approx: $18.15

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Comment by Richou77on Mar 19, 2024 3:57pm

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Post# 35941499

RE:FTN unit nav guesstimate@ approx: $18.15

Hi Mouserman,
Ithink you're pretty right with your NAV at $18.15.
I have a question for you. I ask you because you seem to be the better person on this Bullboard to give me the good information. I follow and own FTN since over a year now. I noticed when I first bought FTN that they have 37.1 millions common shares. (March 2023) And now a year later, they have 52.1 M shares outstanding, 15 millions shares more. Since a year, they had no new financing on common. I saw the prospectus for the prefered shares. How can we explain that other than ATM sell? That's 1.25M new shares avg per month trough ATM! Thanks in advance!

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