Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB.A

Insiders keep buying

[incomedreamer11]

Aug 24/23   10% Holder Slate Asset Management LP Direct Ownership 

Public market buy Trust Units 1.585 - 20,000+ 0.7% 2,988,851


Aug 23/23 10% Holder Slate Asset Management LP Direct Ownership

Public market buy Trust Units 1.590 - 5,600 +0.2% 2,968,851


Aug 21/23 10% Holder Slate Asset Management LP Direct Ownership

Public market buy Trust Units 1.580 -10,000 +0.3% 2,963,251

[rad10]

  they need to give more clarity on that refinancing.  The buying is good, even though it's not a huge amount - there must be some improvement in the balance sheet coming.

[Detailoriented1]

Could this be the start of a management buyout combined with Armoyan.  And then they split the properties and he gets the East Coast ones he wanted and they keep the others and then sell them to other REITs they own at FMV and make a killing that way.  There is a potential disconnect on value right now that would.make this a very smart move for Armoyan to make back some of his losses and

[incomedreamer11]

Sep 1/23 10% Holder Slate Asset Management LP Direct Ownership Public market buy Trust Units 1.610  + 85,000  2.8%   3,101,351 Aug 31/23 10% Holder Slate Asset Management LP Direct Ownership Public market buy Trust Units 1.637 +25,800  0.9%     3,016,351 Aug 30/23 10% Holder Slate Asset Management LP Direct Ownership Public market buy Trust Units 1.630 +1

[incomedreamer11]

Sep 5/23 10% Holder Slate Asset Management LP Direct Ownership Public market buy Trust Units 1.570$    90,000units   + 2.9%      total    3,191,351  

[Detailoriented1]

I bet that SLAM took out the block at 1.60 today as well.  Something is up IMO.  I still think it is a Management buyout in conjunction with Armoyan. And shareholders will be happy to get $2.25 or 2.50 or whatever they jointly offer to take this private 

[Ladislav3]

Maybe they also have to maintain the price in order to comply with credit covenants on the latest refinancing.

[Detailoriented1]

Yes that is also a possibility which also puts a floor on the price.  If we see them buying upwards to 1.75 then the management buyout is the more likely scenario.  If they stay active only between 1.55 and 1.60 levels then it is your scenario that is most likely.

[Meesha1]

The debentures have quietly rallied over $10 in the last month as well.