Ravelin Properties REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.RPR.DB

RE:RE:RE:RE:RE:Now that Armoyan has control I will evaluate his performance

[HRc60to65]

G. Armoyan and SOT have some option to turn around SOT.  The Court restructuring is the worst scenario for Mr Armoyan and I think he do not want that.

The stock price is to low to issue common units.

160M$ in Preferred shares or 160M$ in new debentures are possible, to be fair to all units holders it can be via right issued to all units holders.

It can also offer to exchange actual debenture + accued interest in preferred shares.  The average interest for all debetures is 7.2%.  A dividend of 5% on prefered share will be acceptable.  13.2M new prefered shares (160M$ cash + 170M$ from debendures conversion)

That scenario is removing 330M$ of liabilities to 900M$, increasing shareholders equity to 497M$.  Then the ratio 55% = 497M$/900M$ from the actual 80%.

Or

A takeover by GA or an other REIT