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

Debentures...

[pennylane101]

What is surprising is that the debentures are sinking and there appears to be a big selloff, yet the units are staying steady at 40 cents.  One would think that with the approaching delisting deadline, the units would plummet.  Makes no sense to me but in a way, this is good news for Slate investors.  Maybe we'll see the interest payment on the debentures before year end?  One can hope.

[Tree2tree]

I still feel that most investors don't even look at the debentures as they are more complicated to understand than common shares, and are usually seen as an investment with limited upside.  With a limited market, it only takes one or two nervous sellers to take the price down.   On the other hand many people are willing to throw money at beaten-down common shares as a kind of lottery

[HRc60to65]

''debentures as they are more complicated to understand than common shares, and are usually seen as an investment with limited upside'' SOT debenture can double or triple with a potential 16.5% to 27% interest on the dollars invested. when debentures are bought at 33.33$/100$ or lower 5.5% x 3= 16.5% 7.5% x 3 = 22.5% 9% x 3 = 27$ My worst case scenario I wil recovered 60$ to 80$

[Tree2tree]

HR, I totally agree that the debentures have a huge upside and a very high probability of coming out ahead, which is why I am buying.  But many people may just look at the price drop and assume that there is a fatal flaw somewhere and that they are going down the tubes.  That's what unique opportunities look like - opportunities that few people understand.

[pennylane101]

I think the reason why the units are so attractive to investors and I've been tempted to jump in but my risk averse nature has gotten the better of me, is because the float is around 80 million, the management agreement with Slam is over, and the monthly dividends will be on the high end.  All this provided of course, the company survives.  Although it doesn't make sense for

[Tree2tree]

The float of 80 million is irrelevant - what matters is the market cap of those shares, vs your prediction of their fair value after restructuring.   Which monthly dividends are you referring to?  There are not likely to be any dividends on the common shares for the foreseeable future, as the priority will be reducing debt.   I agree with your last statement, I can't see GA

[pennylane101]

You are absolutely right.  I meant if and when dividends are eventually reinstated, it could be very profitable to hold the units. Does the TSX send out a notice if conditions for continued listing have been met? HR,  if it were to happen, why would Dec 21, be the day we find out CCAA is the next step?  

[HRc60to65]

I was thinking it is the last day of the week and because generaly the Dec 21 is the date corporation are going to CCAA