other material
confidence high
sentiment positive
materiality 0.55
Board urges rejection of MacKenzie mini-tender offer at $3.15/share, 56% below NAV
CIM REAL ESTATE FINANCE TRUST, INC.
- MacKenzie Capital Management offers $3.15/share, a 56.3% discount to NAV of $7.20 as of March 31, 2021.
- Board of Directors unanimously recommends shareholders do not tender shares; offer is unsolicited and opportunistic.
- Company has paid 118 consecutive monthly distributions; current annualized yield 5.05% based on NAV.
- MacKenzie reserves right to amend terms including price; using affiliated depositary without independent escrow.