The beauty of commenters–we have 1000’s of sets of eyes watching details of these types of things.
ESW3 posted the note below in comments responding to an item in the Monday Morning Kickoff
Tim, Stephen, all –
There are a number of interesting aspects about that HMLP-A delisting. First, HMLP-A wasn’t “officially” delisted until about 10 minutes ago with this certification filing: https://www.sec.gov/Archives/edgar/data/1603016/000110465923000010/tm2233598d1_1512g.htm
Second, I was told by a representative of the compliance department at OTC Markets.com that HMLP-A would move to the expert market immediately upon delisting. And sure as heck, here’s the new symbol – HMLPF. https://www.otcmarkets.com/stock/HMLPF/overview.
BUT: It looks like it listed as “Pink, Current”. So it should trade at most US brokerages, and the “expert” listing info I got from the compliance dep’t. at OTCM was wrong, at least for now.
Third, I am nearly 100% certain that the ICE Exchange-Listed Preferred & Hybrid Securities Index (Bloomberg ticker PHGY) has not yet removed HMLP-A from its January, 2023 constituent list. (As I write this, ICE is still showing the 12/31/2022 date for all of its benchmark indices.) The reason I am so confident in this projection is that PFF, which uses the ICE Index as its benchmark index, as of Friday December 30, 2022 still holds 533,169 shares of HMLP-A. PFF gets an early look at changes to the ICE Index – for example, they got rid of several hundred thousand shares of the Pennsylvania REIT (PEI-B, PEI-C etc. now trading on the OTC Markets as PRETL, PRETM, and PRETN) so I am equally confident that the PEI preferred shares have been removed from PHGY. (The January, 2023 PHGY constituent list will be updated later today, and I’ll try to remember to post it.)
Fourth and finally, I believe this means that HMLP-A will be removed from the PHGY constituent list effective on February 1, 2023. That’s when the “fun” will begin for HMLP-A – when PFF is forced to start selling its shares.