TSX:SPB - Post Discussion
Post by
Rocet98 on Jul 24, 2024 1:45pm
BAM 2020 what are they going to do now??
In 2020 they did a bought deal!
On July 13, Brookfield Asset Management (BAM) invested US$260 million (~$350 million) in 7.25% convertible preferred equities. This represents ~15% of pro forma fully diluted outstanding share count. The option is already in-the-money as the conversion price is $11.63 vs. $12.17 current stock price. Superior can force-convert Brookfield after 3 years if the stock price trades above 145% of the conversion price for 30 days consecutively. Brookfield also gets one board seat.
Question is what are they going to do now???
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