written by reader Unable to exercise PW rights

By netpsych, January 8, 2021

Fidelity refuses to allow me to exercise my PW rights. I wrote to TD Ameritrade and they seem to have the same policy. How do I exercise these rights? Can I do this directly with the company? Any ideas? See below:

———————
This offering will no longer be open due to the exercise of this Company’s
subscription rights being considered a prohibited action by National Financial
Services LLC (NFS).
.
Completion of the exercise would be facilitating a direct investment of funds
into a cannabis company which is prohibited by NFS’s policy on Marijuana
related businesses, which is based upon Federal guidelines.
.
As a result this offering this will not be open to accounts that hold these
subscription rights.
.
For further information, Power REIT may be reached at ir@pwreit.com
.
01/06/2021 10:22 AM ET
CUTOFF DATE: 01/21/2021 7:00 PM ET
EXPIRATION DATE: 01/22/2021 1:00 PM ET
WITHDRAWAL DATE: 01/21/2021

Power REIT has announced a non-transferable rights offering for the holders of
their common stock, CUSIP 73933H101.

You received 1 right for every 1 share you held as of the record date,
12/28/2020. 1 right will entitle you to purchase 1 additional share, CUSIP
73933H101, at a subscription price of $26.50 per share.

If you exercise all of your allocated rights, you have the opportunity to
oversubscribe for additional shares, subject to availability and proration.

All rights exercised are irrevocable.

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