Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

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Cohen & Steers Tax-Adv Pref Secs and Inc Fund > Wait and See Market!

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Comment by flard11on Apr 23, 2013 3:31pm

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Post# 21291246

RE: RE: Wait and See Market!

If you say warrants are only as good as what one will pay then ... what does that mean?

If the strike is not met by the expiry date then the warrant shares never get issued and the outstanding shares do not get diluted.

So forget the potential fully diluted shares (if all warrants are exercised) as a number in your calcs and use the number currently outstanding or just include the warrants with a 0.35 strike price as they are reasonable to be included (79m shares) along with the 79m x 0.35 = $28m to the bank.

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