New Stock Arbitrage — Dividend 15 Split Corp.

Image result for Dividend 15 Split CorpDividend 15 Split Corp is a Canadian is a mutual fund corporation. It aims to pay monthly cash dividends. The company invests in a portfolio of 15 dividend yielding, high-quality Canadian companies. It offers two types of shares i.e. class A shares and preferred shares. The company’s investment objectives are to provide holders of preferred shares with fixed cumulative preferential monthly cash dividends as well as to provide holders of Class A shares with regular monthly cash distribution.

Dividend 15 Split Corp. (the “Company”) announce today that it will undertake an offering of Preferred Shares and Class A Shares of the Company. The offering will be co-led by National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and RBC Capital Markets. The Preferred Shares will be offered at a price of $9.90 per Preferred Share and the Class A Shares will be offered at a price of $9.05 per Class A Share. The closing price on the TSX of each of the Preferred Shares and the Class A Shares on March 29, 2019 was $10.15 and $9.10, respectively.

The sales period of this overnight offering will end at 9:00 a.m. EST on April 2, 2019. The offering is expected to close on or about April 9, 2019.

 

Stock Name Dividend 15
Stock Symbol DFN-T
Exchange TSX, Toronto Stock Exchange
Issuer Dividend 15 Split Corp
Shares Preferred Shares Class A Shares
Issue Price $9.90 per Share $9.05 per Share
Offering Preferred Shares and Class A Shares are issued only on a basis that an equal number of Preferred Shares and Class A Shares will be outstanding at all times
Sizing Date April 2nd, 2019
Closing Date On or about April 9th, 2019
Underwriter National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and RBC Capital Markets

Interested group members please pay close attention to upcoming update.