GUT Rights Offering Results Quick Notes
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GUT's rights offering concluded successfully, issuing 11.6 million shares and raising $58.1 million, despite being undersubscribed. The offering was accretive, boosting NAV per share and supporting GUT's high distribution rate. Investors might benefit from a 'sell and rebuy' strategy during such offerings.
December 05, 2024 | 9:45 am
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GUT's rights offering raised $58.1 million, issuing shares at $5 when NAV was $3.09, which was accretive and supported its high distribution rate. The offering was undersubscribed with a 76.5% participation rate.
The rights offering was accretive, issuing shares above NAV, which boosts NAV per share and supports the distribution rate. Despite being undersubscribed, the offering raised significant capital, which is positive for GUT's financial health.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100