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

Reading the tea leaves...

[pennylane101]

The level at which the units are trading looks like there might be a buyout or who knows, a recovery?  If this were heading to CCAA or bankruptcy, the units would be trading at 4 or 5 cents.

[ABDPhil]

With 80,000,000 shares outstanding, the company is already at zero, whether the SP is at 5 or 50 cents.   Now, the risk is on the bonds, and where the next event will occur. However, that will not stop them from increasing a few dollars...before the collapse.

[TVR]

What is now looking increasingly likely is that both the units and debentures could stop trading before the end of December unless there is a further exension of the delisting review that does not seem very likely.  It is now only 2 weeks until the end of the current extension.  Will there be news and action in the next 2 weeks?  So far this has been dragging along for months with

[Tree2tree]

TVR an approaching deadline does not mean the sky is falling.  Maybe there will be another extension, maybe there won't.  What we know is that we have a new board and new management with a direct interest in turning this company around.  They are not going to just sit and watch it crumble.  Yes it takes time, but I have no doubt that they are working on concrete plans that

[ABDPhil]

[HRc60to65]

The Welch may are working with Artis Real Estate to court-circuit G. Armoyan.  Artis will not put a penny in Slate Office, just support the Slate Office liabilities. An offer in shares exchanged from Artis at 12.5 sot.un for 1 ax.un.  A combination of Artis and Slate Office will resulted:   Ax.un sot.un together

[Tree2tree]

HR is this something you've heard, or is it a scenario you have dreamed up?   It does look feasible.  In any case, it's an example of a scenario that would leave the debentures intact.  And the common shares might then translate to about 60 cents in Artis shares, which at least is above the current trading price.   The SOT board may actually have multiple options that

[HRc60to65]

Yes,  it is a dream

[Tree2tree]

HR thanks for clarifying.  If indeed the Welches are still 'in the game' and working on a competing proposal, that could be a good thing as it would push GA and friends to come up with a better deal.

[HRc60to65]

I hope a better deal may come. I sold at lost my 81 000 sot.unit at 0.40$ yesterday to the buyer of 160 000 sot.unit I bought more than 125 000$ of debentures to replace my sot.un, now I am holding more than 1 300 000$ debentures a mix of 9%, 7.5% and 5.5%.

[pennylane101]

Wow, your total holdings of the Slate debentures is a huge vote of confidence.  This gives me hope. I would have had more but most of my purchases happened before the crash.  I have less than half.  I'm cashed out with Slate.

[HRc60to65]

My avg is below 39$/100$ of debenture. My DD shows me that the debentures are almost covered with assets, the worst case is 70$/100$. The sot.un has more risk and may had more rewards. Two days with a lot of buyers for the sot.un, yesterday 165K and today 380K at 0.40$/unit.

[Northforce13]

"The sot.un has more risk and may had more rewards." I did the same recently, moved up the capital stack.  "Two days with a lot of buyers for the sot.un, yesterday 165K and today 380K at 0.40$/unit." Some time ago there was peculiar buying several days before a positive PR.  Buyers did well.  The information revealed in that =  possibly obtainable

[pennylane101]

I got my average cost down to 37. It has occurred to me that I could lose it all. Luckily I didn't put all my beans into Slate.  Long term Provincial and Municipal bonds make up a large part, I would say 95%, of my investment portfolio. I know, so boring.  You have no idea how much stress Slate has caused me.  ;0)

[Northforce13]

"I got my average cost down to 37. It has occurred to me that I could lose it all. Luckily I didn't put all my beans into Slate.  Long term Provincial and Municipal bonds make up a large part, I would say 95%, of my investment portfolio. I know, so boring. " 25% of net worth (portfolio + real estate) here Concentration investor

[HRc60to65]

Artis new Artis stock price has dropped in the last few days to 7.31$/sh. The 520M$ Facilities can be utilized for general corporate purposes, including the acquisition or development of additional income producing properties and can be drawn in Canadian or US dollars. I hope the dream come thrue, Artis may buy Slate Office Trust. Holding 7 000 AX.UN, SOT.DB, SOT.DB.B and SOT.DB.A

[HRc60to65]

Shareholders of Dream Office Real Estate Investment Trust T.D.UN are thinking Artis will bought T.D.UN.  Artis is owning 24% of Dream Buying Dream is a better deal than buying SOT for Artis but concentrated in Toronto

[TVR]

Artis has no intention of buying Dream Office REIT or merging with them.  They are simply investors looking to push a sale or other transaction that will make them money.  Artis cannot afford to take on the Dream Office REIT debt any more than it can afford to take on the SOT.UN debt.

[InvestSmarter]

Artis will not Buy Dream Office. Artis owns too much office as it is. I agree with the other poster they will push D into a sale, rather than buying D outright. Artis needs to add some Residential, industrial, or Retail to its portfolio. Their options are endless right now. Having said that, Samir has a history with Senior Housing.

[pennylane101]

That would be amazing!  Your prediction may come true after all. ;o)   I was looking at the Dream Reit F/S and they are losing money and still rolling out dividends.  Their debt level is much higher than Slate. The worrying part of all of this is that there is little more than a week left before delisting and no news.  Nothing!   Maybe there is an impasse

[pennylane101]

Yeah, okay. so  Dream Office Reit owns  expensive Class A buildings in urban centres.  They are still struggling.  

[TVR]

The suiggestion that Artis REIT could combine with SOT.UN is the type of deal that could save SOT.UN.  However, I doubt Artis would look at this.  First, they are already busy with their substantial investments in Dream Office REIT and Cominar.  The combined debt would be close to 60% of assets and  seems improbable that Artis would go there given they have been working hard to