RE:RE:RE:RE:Is a Brookfield takeover is in the works?penny: Thanks for the info. So the 13 million was a secondary done as a bought deal as opposed to a best efforts.
The dealers are always reaching out to offer SPLITS to the public (see LBS for example). The public gets screwed on the "common" offering while the instittions get a discount on the "pref" side. That is why the share price of the commons always take a hit the moment the deal is announced.
Does anyone know how the secondary 13 million SPB share offering went? By that, I mean how many shares were actually taken up and how fast did the deal close? On a bought deal, Gundy probably wouldn't have had a greenshoe clause so we can't use that as an indicator. If the demand was strong, Gundy would likely be ready to go to the trough again but if the demand was weak, doing another round so quickly afterwards would be sketchy.