iA Financial Corporation Inc. and RF Capital Group Inc. have announced (on 2025-10-31):
the successful completion of the previously announced acquisition of RF Capital.
…
The acquisition of RF Capital was completed by a wholly-owned subsidiary of iA (the “Purchaser”) pursuant to a court-approved plan of arrangement under the provisions of the Business Corporation Act (Ontario) (the “Arrangement”).Pursuant to the Arrangement, the Purchaser acquired (i) all of the issued and outstanding common shares of RF Capital (“Common Shares”) for cash consideration of C$20.00 per Common Share, and (ii) all of the issued and outstanding Cumulative 5-Year Rate Reset Preferred Shares, Series B of RF Capital (“Series B Preferred Shares”) for cash consideration of C$25.00 per Series B Preferred Share (plus all accrued and unpaid dividends and an amount in cash per Series B Preferred Share equal to the dividends that would have been payable in respect of such share until March 31, 2026, which is the next available redemption date).
Consideration for the purchased shares has been remitted to TSX Trust Company, as depositary under the Arrangement, and will be paid to shareholders of RF Capital as soon as reasonably practicable after the date hereof.
RCG.PR.B was issued as GMP.PR.B, a FixedReset 5.50%+289, which commenced trading 2011-2-22 after being announced 2011-2-1. The notice of extension was reported on PrefBlog. The issue reset at 3.611% in 2016; there was a 22% conversion to GMP.PR.C. It is tracked by HIMIPref™ but is relegated to the Scraps index on credit concerns. The ticker was changed from GMP.PR.B to RCG.PR.B in 2020, following a name change. The issue reset to 3.73% in 2021 and at that time there was a forced conversion to the FixedReset. The potential acquisition was announced in late July, 2025, and reported on PrefBlog.