FFD Financial Corp Purchase
FFD Financial Corp (FFDF) announced on Tuesday night that it was going private by conducting a reverse and then forward stock split. Stock holders with less than 350 shares at the time of the reverse split will receive $19.00 a share in cash. Shares closed Tuesday at only $15.45 a share. In addition, FFD plans on treating “street name” holders (i.e. stock with brokers) the same as holders of record that posses the stock certificates. This appeared to be an ideal going private transaction, so I took immediate action and placed an order for 300 shares with a $16.75 limit.
This morning I was able to buy 300 shares of FFDF for $16.39 a share in my taxable account. I was very happy with this trade, since the price of FFDF kept on climbing throughout the day and closed at $17.547 a share. I hope to make $773 on this transaction when the reverse split is completed for a gain of more than 15 percent of my initial investment. Follow the developments of this deal here as they unfold.
As you might have already noticed, I am maintaining a list of going private transactions. You might want to bookmark that link, and check on it daily for the latest opportunities for further research. Please share your trades and experiences with these opportunities by posting comments on the Fat Pitch Financials going private transactions page.