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 > Revised PTA Offer = Less Dilution to PTA Than Original Offer

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Post by dallytaylor24on Jun 21, 2014 2:17pm

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Post# 22682867

Revised PTA Offer = Less Dilution to PTA Than Original Offer

Assuming most Suroco shareholders tender their cash such that $27 million cash is paid out, then PTA will only issue 1.6402 shares for each Suroco share (total of approx 160 PTA shares issued based on Suroco's 134 million shares outstanding) versus the original offer of 1.7627 shares for each Suroco share (which would have resulted 235 million PTA shares being issued to Suroco). On my math that is 75 million less PTA shares issued. Brilliant deal making by PTA. I would much rather PTA used their massive cash balance and utilized their war chest than issue more stock. Reaffirms my strong belief in this company and its management teams ability to generate value. Good luck to the longs, I know we will soon be rewarded, just like Suroco is being rewarded right now.

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