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

In the IVQ re-org

[pennydredful]

Bonds are  taking  a 60%  haircut  and  both  are  rolled  in to  one issue  with   extended maturity .  To offset   the  60% haircut   they  are   also  given   a pot  full  of  common   shares

[Tree2tree]

More useful research, Penny.  I wasn't familiar with IVQ, but at first glance, it appears to be in worse shape than SOT.  With a market cap of $6 million, people would consider it to be essentially bankrupt (not just in default).  And it's interesting that the amount they propose to carve out of the debentures would not be given away for free, but converted into common

[pennydredful]

unlike  SOT   they   NEVER  defaulted    on  any   interest  or  principal payments.  They  dealt  with their  issues   prior   to   the   fan  being  hit. 

[TVR]

The IVQ restructuring is interesting but a little murky.  Looks like the debentures are only a small part  of the restructuring.  Hard to figure what the original value of the debentures was  (looks like it was around US$50m, but the latest accounts show a "fair value adjustment " to the debentures of US$17m and list the current balance sheet value as US$19.7m. 

[pennydredful]

It  will  go  thru  as they have  the support   of  major   institutional  holders  .  In  fact  once  they have support   of   66.67%  they  do  not  even  have  to  hold   the meeting.   In  the   past   some 

[pennylane101]

From your posts on the IVQ board, it sounds like you are a debenture holder.  You can't possibly be happy with the deal? The preferred shareholders will own the company.  The company head office is in the U.S  As a general rule, I try to avoid companies that are exclusively listed on the TSX with headquarters in the U.S.  Most of them are fraudsters. You can't compare

[rad10]

It's a legit red flag.  TSX listing on a US based company.  Remember Nobilis health? Darling of several BNN talking heads.....