SBN.PR.A Warrant Offering 34% Subscribed

Mulvihill has announced that the SBN.PR.A warrant offering has succeeded in selling slightly under 1.3-million units, for gross proceeds of $24.24-million.

The prospectus stated 3.8-million units were up for sale; hence, 34%.

The 1.3-million new shares, added to the 3.8-million old ones, means this fund is starting to get to a respectable size. Now, if only the credit quality was better…

SBN.PR.A was last mentioned on PrefBlog when the warrant prospectus was filed. SBN.PR.A is tracked by HIMIPref™, but is relegated to the Scraps index on credit concerns.

This entry was posted on Monday, April 12th, 2010 at 7:51 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “SBN.PR.A Warrant Offering 34% Subscribed”

  1. SBN.PR.A To Try Again with Warrants « PrefBlog says:
    July 14, 2010 at 6:31 pm

    […] was last mentioned on PrefBlog when they announced a 34% subscription rate on April’s warrant offering. SBN.PR.A is tracked by HIMIPref™, but is relegated to the Scraps index on credit […]

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