Life & Banc Split Corp T.LBS

LBS news after the bell

[mouserman]

 

Life & Banc to list up to 9,777,826 more shares

 

2023-10-27 18:06 ET - Prospectus Approved

 

The Toronto Stock Exchange reports that Life & Banc Split Corp. will list up to an additional 9,777,826 preferred shares at the open on Oct. 31, 2023. According to the TSX, the listing will cover preferred shares to be issued at $9.60 per preferred share, pursuant to the terms of the prospectus supplement dated Oct. 18, 2023, to the short form base shelf prospectus dated Dec. 15, 2021.

[stwatcher]

Any thoughts on what this may do ? Was it leaked and the sell off was Friday possibly ?

[marcrobert]

Leaked --+ quite possible scenario this is Canada after all insider action on less prominent securities unlikely to raise an eyebrow on bay street or sleepy regulator 

[navgod]

There is no leak! This issue and the amount was common knowledge 2 weeks ago at least.  All that is happening is replacement of the prefs that are being redeemed in connection with the extension. See my post on the 18th for possible impact. Am now building a short again. GLTA

[mouserman]

Yes i think some exuberant buying by some who do not understand the reasoning behind the preferred ONLY offering... goo dshort here i believe. FTN  a much better buy... very small premium today. LBS premium growing..