Traders Cooperative

[Joe Stocks]

Check out $SRG. They are having shareholders vote on liquidating. Stock is up 66% but still some nice upside. From Proxy "Distributions Range will be between $18.50 and $29.00 per share." Bot some at 10.08.
Read the proxy. https://www.sec.gov/Archives/edgar/data/0001628063/000119312522189568/d384540dprem14a.htm

Based upon management’s review and evaluation with its advisors, including CBRE Group, Inc. (“CBRE”), and with input from the Special Committee’s financial advisor, Barclays, if the plan of sale is approved by our shareholders and we are able to successfully implement the plan of sale, we have estimated, based on data and information reviewed by Company management as of or prior to early June 2022 (without taking into account macroeconomic, market or other factors after June 7, 2022), that the net proceeds that will be distributed to our Class A shareholders over time (directly or through a liquidating trust or other liquidating entity) from the plan of sale and taking into account: (a) repayment of our Senior Secured Term Loan, (b) the redemption of the Company’s outstanding Series A Preferred Shares, (c) an estimated amount of settlement of certain financial obligations, (d) the estimated debt service and dividends on Series A Preferred Shares prior to repayment and redemption, (e) the estimated fees and expenses incurred in connection with the sale of our assets, (f) an estimate of the expenses and capital expenditures to be incurred and revenue to be generated from our properties prior to disposition and estimates of the general administrative expenses, (g) wind-down costs of the Company and (h) the Company’s estimated taxes, will be between $18.50 and $29.00 per share (our “Estimated Total Shareholder Distributions Range”), as described in more detail under “Proposal Four: Plan of Sale and Dissolution — Estimated Shareholder Distributions — Calculation of Estimated Shareholder Distributions.”

Yesterday I bought SRG beaten up preferred shares at $16. SRG-A. Today SRG (Eddie Lampart) announced that they are looking to sell and for the dissolution of the company. Preferreds ran up to $22.00. This looks so much like CDR that I sold my shares quick! Lesson learned. FWIW, SRG is up 66% to 10.08. Book is 14.53.