Raise number is $2.05 below threshold If my Raise number is accurate, the market value of the two components of the ENS Unit price would have to increase $2.05 combined without ENB going up in value in order for Middlefield to be in a position to do a Raise.
That is a very big number.
With ENB going ex-divi this week, one might think that $0.915 of that total would automatically drop off the ENB share price affecting the NAV calculation. However, that is not the case as ENS "gets" the dividend which means the ENB ex-divi date has no bearing on the NAV of ENS. I expect that ENB will drop by more than $0.915 on Thursday as it always does. However, gone are the days where ENB shareholders get tatooed on ex-divi day.