Check your RVT rights

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Check your RVT rights

Post by PapaGeek » Wed Jul 04, 2018 7:28 am

On May 18 RVT gave rights to those who owned or will own RVT on May 30. Basically, for every 10 shares you owned on May 30 you could buy 1 share on July 3 for $.25 less than the closing price on July 3.

My rights were exercised yesterday. The closing price of RVT was $15.58 and the shares I had rights to were purchased for $16.41!

Offering the rights pushed the price up to $16.66 on May 21 and for some reason they used that price, not “$0.25 below the last reported sale price per share on the New York Stock Exchange on July 3, 2018” as stated by the offer!

There is a (i) next to that comment on the offer on their website, ... ring-terms
but the footnotes are not published on that page. Not sure what they are up to.

When I check my holdings last night I got a Red Flag because my IRA account’s cash holdings went negative by a few cents, which is not legal!

My broker agrees that something is wrong, this is just to let everyone know that they should double check their RVT holdings and double check with your brokers! The rights price should have been $15.33, not $16.41!

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