{"id":48868,"date":"2025-07-28T21:04:06","date_gmt":"2025-07-29T01:04:06","guid":{"rendered":"https:\/\/prefblog.com\/?p=48868"},"modified":"2025-07-28T21:04:06","modified_gmt":"2025-07-29T01:04:06","slug":"rcg-pr-b-to-be-acquired-probably","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48868","title":{"rendered":"RCG.PR.B To Be Acquired, Probably"},"content":{"rendered":"

iA Financial Corporation and RF Capital Group Inc. have announced<\/a>:<\/p>\n

that they have entered into a definitive agreement (the \u201cArrangement Agreement\u201d), pursuant to which iA will acquire all of the issued and outstanding common shares of RF Capital for $20.00 per share in cash (the \u201cTransaction\u201d).
…<\/b>
Pursuant to the Arrangement Agreement, iA will also acquire all of the issued and outstanding Cumulative 5-Year Rate Reset Preferred Shares, Series B of RF Capital (the \u201cSeries B Preferred Shares\u201d) for $25.00 per share in cash, representing a premium to the 30-day volume weighted average share price on the TSX for the period ending on July 25, 2025 of 63% (plus all accrued and unpaid dividends and, to the extent closing occurs prior to March 31, 2026, a cash amount per Series B Preferred Share equal to the amount of the dividends that would have been payable in respect of a Series B Preferred Share from (and including) closing to (and excluding) March 31, 2026, as if the Series B Preferred Shares had remained outstanding during this period))
…<\/b>
The Transaction is subject to the approval by at least two-thirds of the votes cast by common shareholders voting in person or by proxy at the Meeting. The acquisition of the Series B Preferred Shares is conditional upon the approval of at least two-thirds of the votes cast by Series B preferred shareholders voting in person or by proxy at the Meeting. However, completion of the Transaction is not conditional upon the approval of the Series B preferred shareholders. If the requisite approval from the Series B preferred shareholders is not obtained, such Series B Preferred Shares will remain outstanding in accordance with their terms. Further details regarding the applicable voting requirements will be contained in the Circular.<\/p><\/blockquote>\n

RCG.PR.B was issued as GMP.PR.B, a FixedReset 5.50%+289, which commenced trading 2011-2-22<\/a> after being announced 2011-2-1<\/a>. The notice of extension was reported on PrefBlog<\/a>. The issue reset at 3.611%<\/a> in 2016; there was a 22% conversion to GMP.PR.C<\/a>. 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<\/a> in 2020, following a name change. The issue reset to 3.73%<\/a> in 2021 and at that time there was a forced conversion to the FixedReset<\/a>.<\/p>\n

Thanks to Assiduous Reader Fireseeker<\/i> for bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

iA Financial Corporation and RF Capital Group Inc. have announced: that they have entered into a definitive agreement (the \u201cArrangement Agreement\u201d), pursuant to which iA will acquire all of the issued and outstanding common shares …<\/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-48868","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48868","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=48868"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48868\/revisions"}],"predecessor-version":[{"id":48869,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48868\/revisions\/48869"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}