First REIT

[level13]

No, I mean when you apply for the excess rights on top of the entitled rights.

Are you required to pay for the excess rights? If not, each unit will only be costing $0.50.

If you are required to pay the theoretical price of $0.20 for each excess right, then it would make more sense to just buy them off the market.

At this moment you dont need to pay anything when you applied for the excess rights.

Upon exercising the rights (turning them into shares), which will happen 1 to 2 weeks down the road, then you need to pay up $0.5 for each right.

I hope this helps.