FIG.PR.A : Capital Units Rights Offering Cancelled

Faircourt Asset Management has announced:

that due to recent market conditions, it has decided to cancel its previously announced rights offering. Due to the current market conditions it was determined by the Manager, not to be in the best interests of Unitholders to proceed with the proposed rights

The Rights offering was finalized and discussed on PrefBlog on November 18 which, if my calender is still working, was TWO DAYS AGO! This is an epic crash, to be sure.

As of November 19, NAV per Capital Unit was $2.46 according to Faircourt and at 0.71 Capital Units per Pref, asset coverage of the prefs was – yesterday – 1.2-:1.

One Response to “FIG.PR.A : Capital Units Rights Offering Cancelled”

  1. […] PrefBlog Canadian Preferred Shares – Data and Discussion « FIG.PR.A : Capital Units Rights Offering Cancelled […]

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