Ongoing Mini-Tenders on Non-traded Securities
Registered tender offers (Tender offers for which the bidder filed SC TO-T)
Unregistered tender offers (Tender offers for which the bidder did not file form SC TO-T)
Mini-tenders on non-traded securities typically involve steep discounts to NAV. Generally only a small portion of shareholders accept the offer.
This table shows results for mini-tenders from major bidders since 2016.
|MEDIAN of Price/NAV||MEDIAN of Shares Tendered/Shares Sought|
|Everest REIT Investors||69.21%||9.19%|
|Mackenzie and Affiliates||59.63%||3.73%|