Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s): SLTTF | T.SOT.UN | T.SOT.DB.A | T.SOT.DB.B

Real Estate REIT - Diversified

Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of approximately 54 commercial properties located in Canada, the United States and Ireland. The REIT's Canada operations include Atlantic, Ontario and Western. The REIT is externally managed and operated by Slate Management ULC.

TSX:SOT.DB - Post by User

Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 > Offering is $4.90 but trading for $5+

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Comment by CashHungryon Nov 16, 2021 10:02am

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Post# 34131325

RE:Offering is $4.90 but trading for $5+

The $4.9 was for $55 mil (only about 25% of the financing) and it was for subscription receipts (conditional on closing) which normally have a stock price lower than bought deals with no condition. SOT.UN went this route because they did not want to be held holding a large chunk of cash in the event the deal did not close.

I am not surprised that the shares are trading above $4.9. The other components of the financing look pretty good, especially the $134 mil secured bond with the attactive interest rate of 2.65%.

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