April 2012 Archives

April 2, 2012

What are IMH Financial Corporation Shares Worth?

On March 30, 2012, IMH Financial Corporation (formerly known as the IMH Secured Loand Fund) filed their Annual Report with the Securities & Exchange Commision ("SEC"). (Click here to read IMH's Form 10-k.) The company made the following disclosure regarding the purported $9.79/share book value of the Class B and C common stock shares:

In connection with the Conversion Transactions, we issued 3,811,342 shares of Class B-1 common stock, 3,811,342 shares of Class B-2 common stock, 7,721,055 shares of Class B-3 common stock, 627,579 shares of Class B-4 common stock and 838,448 shares of Class C common stock. We have not determined a specific value for the aggregate shares issued in connection with the Conversion Transactions. However, based on our net tangible book value of approximately $165.3 million as of December 31, 2011, the current estimated book value per share for the shares issued in connection with the Conversion Transactions is $9.79 per share.

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