RE:Preferred SCIB completely inadequate I believe Mamdani (PH&N Funds) owns 63% of the prefs, so you can be sure they've either spoken with him, or are offering liquidty for part of his position. There is no obligation to tender your shares as it's not a forced redemption. Note that the pref tender offer expires before the common share tender offer. That way, if the pref tender is undersubscribed, they can quickly increase the size of the common share tender offer.
Bookends wrote: No way in hell I will tender my preferred at that pathetic price.
Are these people even for real? I mean, everything about this Shhhit show is just a farce.
Offer is bellow the open market value... Ha ha haaaaaaaaaaaa... Funny.
They should have definitely bought out the prefs when they had their chance in March @25$... Rater then paying that huge yeild.
No way I will give them my prefs at that price.