Thursday, May 22, 2014

UDF IV Listing

United Development Funding IV, a mortgage REIT, plans to list its shares on Nasdaq, under the symbol UDF on June 4, 2014.  In a show of optimism for its list price, UDF is offering to purchase up to $35 million of shares through a tender offer at $20.50 per share.  UDF sold its shares to investors at $20.00 per share. 

3 comments:

Anonymous said...

So 2.5% of total appreciation plus a dividend over the life of the fund. I don't think the returns justified the risk that the investment had.

Anonymous said...

No kidding. These guys are moving into the land of "failed executions for the sake of doing deals quickly", with NYRT and HCT now trading well below targeted and tender offer prices...

Anonymous said...

Anonymous 2: nice post...are you a day trader?