Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Not Impressed

[Bookworm28]

I've been in SOT.UN for a while. It's one of my 'safe' holdings. I still like the fundamentals, but what's the scoop with the 'clean up trade' units being priced at $4.75? Not impressed. Why price it this low?

Tried to get more info from my online broker - e.g. how large is the offering, but talk about useless. Outsourced to India is the impression I get. The support person could barely understand english. So frustrating. So much for 'gold' service. Anyway, sorry for venting. If anyone is impressed with their online broker, drop me a line please, or just say the outfit name in this blog. I know it sounds redneck, but just tired of dealing with minimally competent support staff from offshore. Thanks.

Waiting to hear back from Slate to get more info. If they respond favourably, might look at buying more at these levels.

[pennydredful]

It   was  a bot  deal  so  underwriters  were uable to  sell  all  the  receipts  at  4.90  so  they  elected  to  sell  the  unsold   portion   at 4.75.  In  the  aggregate  the  underwriters  wiil  still  make  some money 

[CashHungry]

No doubt the Omicron variant and new lockdown measures motivated the move.  These factors were not in place when the deal was done at $4.9, so I am sure the underwriters are happy to clear the remaining shares out at 'only' a 15 cent haircut.  For longterm investors its probably a buying oportunity if you believe the Omicron threat is way overblown (as I do).

[pennydredful]

LIkely   the    underwriting  comm.   would be   about   .15    so   sale  of  the   tag   end  would   be  a  flat    trade    for    them   .

[SNAKEYBOY]

Omicron is basically a fake news manifestation to justify more fear/restrictions and boosters, funded by the pharma companies propoganda.