{"id":2142,"date":"2008-05-10T17:41:41","date_gmt":"2008-05-10T21:41:41","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2142"},"modified":"2008-05-10T17:41:41","modified_gmt":"2008-05-10T21:41:41","slug":"ryprh-stealth-greenshoe","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2142","title":{"rendered":"RY.PR.H : Stealth Greenshoe"},"content":{"rendered":"<p>RY.PR.H, which <a href=\"http:\/\/www.prefblog.com\/?p=2103\">closed on April 29<\/a>, appears to have had some of its underwriters&#8217; greenshoe exercised.<\/p>\n<p>According to the prospectus:<\/p>\n<blockquote><p>The underwriters have been granted an option (the \u201cOption\u201d) to purchase up to an additional 2,000,000 Series AH Preferred Shares (the \u201cOption Shares\u201d) at the offering price exercisable at any time up to 48 hours prior to closing of the offering. This prospectus qualifies both the grant of the Option and the distribution of the Option Shares that will be issued if the Option is exercised. If the underwriters purchase all such Option Shares, the price to the public, the underwriters\u2019 fee and net proceeds to the Bank will be $250,000,0000, $7,500,000 and $242,500,000, respectively, assuming no Series AH Preferred Shares are sold to the institutions referred to in Note (2) below. See \u201cPlan of Distribution\u201d.<\/p><\/blockquote>\n<p><a href=\"http:\/\/www.tsx.com\/HttpController?GetPage=QuotesLookupPage&#038;DetailedView=DetailedPrices&#038;Market=T&#038;ref=quickquotehome&#038;Language=en&#038;QuoteSymbol_1=ry.pr.h\">According to the TSX<\/a>, there are now 8.5-million shares outstanding, which implies that 500,000 shares were taken up on a greenshoe.<\/p>\n<p>I am unable to find any issuer disclosure of this, either on the <a href=\"http:\/\/www.rbc.com\/newsroom\/links.html\">RBC Press Release page<\/a> or on <a href=\"http:\/\/www.sedar.com\">SEDAR<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RY.PR.H, which closed on April 29, appears to have had some of its underwriters&#8217; greenshoe exercised. According to the prospectus: The underwriters have been granted an option (the \u201cOption\u201d) to purchase up to an additional &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-2142","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2142"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2142\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}