Post by
matt2018 on May 05, 2023 12:42pm
PLAN ALL ALONG
As CANCDN mentions, this was likely mngt plan along.
Probably hoping that D.UN holds in the $16 range (with buybacks & no cut to the divi).
Then do this SIB at $20 with a higher DIR price as well.
Then you would see some "face ripping".
But when your drifting to 5+ yr lows, you gotta do it now.
Bag holders more than willing to sell here and let the shorts cover.
At least stock price recovers its YTD losses for now.
More than you say for most of the other mutts in this space.
Comment by
SNAKEYBOY on May 05, 2023 12:53pm
The second SIB will likely be opportunistic....that is D.UN stays at $13-16 range, and DIR is much higher. I think they may able to do another SIB around $17-18, needs to see demand of first one and if its under or over subscribed
Comment by
matt2018 on May 05, 2023 1:02pm
it will get subcribed for. Many that are buying here today, next week, up until the date will tender. Make cash on the spread. Its easy money. Plus mngt endorsing it by stating to participate but not commiting to the number shares right now backstops it.