looks like we take about a 20% dilution in exchange for the MIF - looks like a great deal to me - the unit prices are probably depressed at least that much because of the the current incentive structure.
It should at least raise the pps to $20.00-$20.50 by the end of the week and the distributions remain at .1624 for the rest of the year. I don't see anything great in this deal, but it's not all bad probably just a push. I guess we will know for sure in 6 years.
"looks like we take about a 20% dilution in exchange for the MIF"
why is this a "great deal" for unit holders? All they need to do is cover the current min dist by 1.0 and you hand over 20% of your investment in the form of diluted shares?