MacKenzie Capital Management, LP - Orinda, California

Eric M.

The offer to purchase shares at a massive discount is unwelcome but acceptable because it’s a valid offer. What’s specifically predatory about this company is the offer was addressed to the person in our household who is in retirement. There are other members of our household who own the same investment but did not receive an offer. The most likely reason this was addressed to an elderly family member is because they’re more likely to misread the offer and make a mistake. That’s unacceptable and malicious.

Douglas K.

1 star is way to much. Should be -10. This is the worst company I have ever worked with. They set rules for my loan and I followed their rules and the did not comply with their own rules and decided to take $2000 along with their payment and after proving to them it was their fault they wouldn’t fix their mistake. Ended up ruining my business and now they send me threatening Email and phone calls threatening me with their Lawyers. DO NOT RECOMMEND THIs COMPANY! Unless you want to close your business. Won’t make their own mistake right.

Kelley K.

This agency preys on older people to carry out their dirty deeds. It was our experience that they mislead our elderly mom to sell shares at an abundantly lower rate than what they were worth. Take extreme caution if contacted by this despicable company.

Nancy D.

I am so grateful to MacKenzie Capital for helping us get rid of an illiquid asset that we fell for when "pitched" by a financial advisor. We moved all other assets but were stuck with that horrible REIT for years, paying a quarterly "maintenance" fee (even though we had no actively managed assets and less than $1K in the account). No end in sight -- until MacKenzie Capital's tender offer. YES -- they do buy some assets people want to get rid of for pennies on the dollar. YES -- people need to calculate whether it is better to hang on to something MC offers to buy ("Do ya feel lucky?"). But I found MacKenzie Capital transparent, super quick to answer questions, and our only solution to being stuck in a bad financial corporation. I closed our account with the financial advising corporation we were burned by today and a load has lifted. Thank you, MacKenzie Capital!

Michael G.

A vulture company that attempts to purchase illiquid shares at huge discounts to their true value. Many of the people they prey on are unwitting retirees.

In the course of my conversation with them I learned that they used legal threats to coerce REIT sponsors into giving up their shareholder records, despite protest from the sponsors themselves.

I encourage anyone who has a grievance with this company to review the new GDPR regulations and assess whether or not you are considered a covered person. These new regulations give covered persons direct recourse against this type of behavior.

If you were in the business of providing liquidity, you'd be offering purchases at reasonable discounts, maybe 5 or 10%. Offering at 30-50% haircuts is predatory by nature.

William S.

Discovered who these guys are via the Pendrell tender offer...

Never seen such a group of thieves in my life. There is nothing concerning PCO that warrants an 85% liquidity discount to the current market price ($1 vs $6.50). Even if one person owned all million shares MacKenzie proposed to tender, they could very likely move them through at market prices from now until the reverse split date.

There is information in their offer to purchase that isn't even correct ("Will the corporation continue as a public company? No.")

If I worked for this chop shop, I'd be ashamed.

EDIT TO ADDRESS THE COMMENT BELOW:

1. It's all semantics, but in the hypothetical scenario of someone attempting to sell a million shares ahead of the reverse split date, the price of the stock would never approach $1 per share. It wouldn't even approach $4.

2. You're wrong. Straight from the 9/22 8-K: "The Class A Stock may continue to trade on OTC Pink®, a market often referred to as the 'pink sheets.'" Remember that deregistering with the SEC is not the same as no longer being a public company. Even if the stock went to the Grey Markets, it would still be considered a public company. A firm such as yours involved in a going dark transaction should know this. The implication you're making that people wouldn't be able to sell their shares post-split is manipulative and factually incorrect.

3. Considering that this transaction cannot even be affected with more than 300 holders, I don't think there are very many non-brokerage shares at all, especially considering that there was a previous reverse split a year ago. It seems to me you're hoping a few holders tender without really reading your offer, only for you to sell before the reverse split date.

Michelle C.

DO NOT- I repeat DO NOT get involved with these people unless you are desperate. Once they get you on the hook there is no turning back. They will harass you night and day if you try to get out of the agreement. They took thousands in profit from someone who didn't know better when they signed and returned the assignment form. I don't know how anyone who works there can sleep at night. Stay away!!!!!!!

Natalie B.

I *offer* 3 stars as a tentative estimate for now: I currently plan to sell a REIT to MCM, (yes, even after reading reviews! I knew all that, low offers..). I need to liquidate, my choice, to salvage what I can.

Today I spoke to MCM staff (K.L.). She was most helpful in a daunting process. So for starters, they earn 3 stars. They'll earn 2 more in my soon/future edit/update *AFTER* I receive the exact price quoted, + timely payment (