Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

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Financial 15 Split Corp > Any guesses when next overnight offering will happen?

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Comment by Experiencedon Mar 25, 2024 11:02am

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Post# 35950710

RE:RE:Any guesses when next overnight offering will happen?

Yep...there are securities regulations regarding dilution for overnight raises which the split shares have to follow. The math for when they can do it and not run afoul of the law varies a bit for each split depending on their composition/dividends and what kind of deal the fund company managing the split can make with the brokerage houses regarding fees. As a general rule for most splits, this math for a raise usually kicks in when the premium is over 15%.

So in the case of FTN we are not anywhere close to triggering an overnight raise.

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