GMP Capital Inc. Cumulative Floating Rate Preferre T.GMP.PR.C

RE:RE:Up 4% during market rout

[SamRothstein]

Yeah I'm super bullish at these prices especially.   While Richardson is getting favorable exhange ration they are also providing their name and not requiring that the amount over 33.33% is paid to them in cash, which the shareholder agreement calls for.  So they are essentially investing another $45 million into GMP by not taking that cash.   I think In med to long term the ratio they agreed on,  isn't going to matter that much, as without the deal GMP would be in a lot worse shape.