SBN.PR.A Closes: A $45-million Issue

S Split Corp, discussed on April 30 has closed, with 4.5-million shares outstanding. There was the usual price-pop and heavy volume; the issue closed at 10.42-45, 53×10, on volume of 415,750 shares.

I’d say there’s still a little value left: the curvePrice is $10.79, comprised of :

Price due to base-rate :  10.26
Price due to short-term :  -0.30
Price due to long-term :   0.71
Price due to Interest Income :   0.00
Price to to Cumulative Dividends :   0.00
Price due to SplitShareCorp :  -0.22
Price due to Retractibility :   0.37
Price due to Credit Spread (2) :  -0.13
Price due to Liquidity :   0.21
Price due to Floating Rate :   0.00
Price due to Credit Spread (3) :   0.00
Price due to error :   0.03
Price due to Credit Spread (High) :   0.00
Price due to Credit Spread (Low) :  -0.12

Update: This issue has been added to the HIMI Split-Shares Index.

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