MIL-OSI: US Financial 15 Split Corp. Extends Termination Date

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Source: GlobeNewswire (MIL-OSI)

TORONTO, March 12, 2024 (GLOBE NEWSWIRE) — US Financial 15 Split Corp. (the “Company”) is pleased to announce it will extend the termination date of the Company a further six year period from December 1, 2024 to December 1, 2030.

In connection with the extension, the Company will have the right to amend the dividend entitlement of the FTU.PR.B Preferred Shares (“Preferred Shares”) effective December 1, 2024. Any change to the Preferred Share dividend rate for the extended term will be based on market yields for preferred shares with similar terms at such time and will be announced no later than September 30, 2024.

The extension of the term of the Company is not expected to be a taxable event and should enable shareholders to defer potential capital gains tax liability that would have otherwise been realized on the redemption of the Class A Shares or Preferred Shares at the end of the term, until such time as such shares are disposed of by shareholders.

In connection with the extension, the Company will offer a Special Retraction Right which will allow existing shareholders to tender one or both classes of Shares and receive a retraction price based on the November 29, 2024 net asset value per unit.

Since inception of the Company, Class A Shares have received a total of $3.70 per share and Preferred Shares have received a total of $9.42 per share, for a combined total of $13.12.

US Financial 15 invests in a portfolio consisting of 15 U.S. financial services companies as follows: American Express, Bank of America, Bank of New York Mellon Corp., Citigroup, CME Group Inc., Fifth Third Bancorp, The Goldman Sachs Group, J.P. Morgan Chase & Co., Morgan Stanley, PNC Financial Services Group Inc., Regions Financial Corp., State Street Corp., Truist Financial Corp., U.S. Bancorp, and Wells Fargo & Co.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Company’s publically filed documents which are available at www.sedar.com.

Investor Relations: 1-877-478-2372
Local: 416-304-4443
www.financial15.com
info@quadravest.com

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