US Financial 15 Split Corp. Extends Termination Date
12 März 2024 - 9:00PM
US Financial 15 Split Corp. (the “Company”) is pleased to announce
it will extend the termination date of the Company a further six
year period from December 1, 2024 to December 1, 2030.
In connection with the extension, the Company
will have the right to amend the dividend entitlement of the
FTU.PR.B Preferred Shares (“Preferred Shares”) effective December
1, 2024. Any change to the Preferred Share dividend rate for the
extended term will be based on market yields for preferred shares
with similar terms at such time and will be announced no later than
September 30, 2024.
The extension of the term of the Company is not
expected to be a taxable event and should enable shareholders to
defer potential capital gains tax liability that would have
otherwise been realized on the redemption of the Class A Shares or
Preferred Shares at the end of the term, until such time as such
shares are disposed of by shareholders.
In connection with the extension, the Company
will offer a Special Retraction Right which will allow existing
shareholders to tender one or both classes of Shares and receive a
retraction price based on the November 29, 2024 net asset value per
unit.
Since inception of the Company, Class A Shares
have received a total of $3.70 per share and Preferred Shares have
received a total of $9.42 per share, for a combined total of
$13.12.
US Financial 15 invests in a portfolio
consisting of 15 U.S. financial services companies as follows:
American Express, Bank of America, Bank of New York Mellon Corp.,
Citigroup, CME Group Inc., Fifth Third Bancorp, The Goldman Sachs
Group, J.P. Morgan Chase & Co., Morgan Stanley, PNC Financial
Services Group Inc., Regions Financial Corp., State Street Corp.,
Truist Financial Corp., U.S. Bancorp, and Wells Fargo & Co.
Commissions, trailing commissions, management
fees and expenses all may be associated with mutual fund
investments. Investors should read the prospectus before investing.
Mutual funds are not guaranteed, their values change frequently and
past performance may not be repeated. Please read the Company’s
publically filed documents which are available at
www.sedar.com.
Investor Relations: 1-877-478-2372 Local:
416-304-4443www.financial15.cominfo@quadravest.com
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