North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

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North American Financial 15 Split Corp > NAV March 27 and a synopsis of the ATM program

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Comment by primo105on Mar 27, 2023 8:08pm

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Post# 35363587

RE:RE:RE:NAV March 27 and a synopsis of the ATM program

ok I see that now. Total NAV started out just under $25 (after agent fees)...if they are performing an ATM on the preferredsat a $0.50 discount doesn't that make it all that much harder for the commons to maintain any value?
Does anyone have any experience redeeming the preferred shares on the termination date in the past? Based on the chart it appears the preferreds will close the gap with the NAV as we approach that date.

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