Liquidation preference

MetLife Announces First Quarter 2021 Preferred Stock Dividend Actions

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星期二, 二月 16, 2021

Banking, Professional services, Insurance, Finance, Finance, Financial markets, Money, Corporate finance, Equity securities, Stock market, Preferred stock, Dividend, Liquidation preference, Stock, New York Stock Exchange, Hybrid security

MetLife, Inc. (NYSE: MET) today announced that it has declared the following preferred stock dividends:

Key Points:

MetLife, Inc. (NYSE: MET) today announced that it has declared the following preferred stock dividends:
Quarterly dividend of $9.47875000 per share on the companys 5.250% fixed-to-floating rate non-cumulative preferred stock, Series C, with a liquidation preference of $1,000 per share.
Semi-annual dividend of $29.375 per share on the companys 5.875% fixed-to-floating rate non-cumulative preferred stock, Series D, with a liquidation preference of $1,000 per share.
Quarterly dividend of $351.5625 per share on the companys 5.625% non-cumulative preferred stock, Series E, with a liquidation preference of $25,000 per share, represented by depositary shares each representing 1/1,000th interest in a share of the preferred stock, holders of which will receive $0.3515625 per depositary share (NYSE: MET PRE).
Semi-annual dividend of $19.250 per share on the companys 3.850% fixed rate reset non-cumulative preferred stock, Series G, with a liquidation preference of $1,000 per share.

Eagle Point Credit Company Inc. Announces Second Quarter 2021 Common and Preferred Distributions

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星期三, 二月 10, 2021

Banking, Other Professional Services, Professional services, Finance, Financial markets, Finance, Money, Stock market, Corporate finance, Equity securities, Venture capital, Preferred stock, Liquidation preference, Stock, Security, Venture round

The distributions on the Series B Term Preferred Stock reflect an annual distribution rate of 7.75% of the $25 liquidation preference per share of the Series B Term Preferred Stock.

Key Points:

The distributions on the Series B Term Preferred Stock reflect an annual distribution rate of 7.75% of the $25 liquidation preference per share of the Series B Term Preferred Stock.
The Company is a non-diversified, closed-end management investment company.
The Company is externally managed and advised by Eagle Point Credit Management LLC.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Wells Fargo & Company Declares Cash Dividends on Preferred Stock

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星期三, 二月 10, 2021

Banking, Professional services, Finance, Financial markets, Finance, Financial economics, Corporate finance, Equity securities, Stock market, Dividends, Venture capital, Preferred stock, Liquidation preference, Stock, Monthly income preferred stock

Wells Fargo & Company (NYSE: WFC) today announced dividends on 12 series of preferred stock.

Key Points:

Wells Fargo & Company (NYSE: WFC) today announced dividends on 12 series of preferred stock.
A quarterly cash dividend of $325.00 per share was declared on its 5.20% noncumulative perpetual class A preferred stock, Series N, liquidation preference $25,000 per share.
A quarterly cash dividend of $320.31 per share was declared on its 5.125% noncumulative perpetual class A preferred stock, Series O, liquidation preference $25,000 per share.
A quarterly cash dividend of $328.13 per share was declared on its 5.25% noncumulative perpetual class A preferred stock, Series P, liquidation preference $25,000 per share.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation Announce Preferred Dividends

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星期四, 一月 21, 2021

Professional services, Finance, Financial markets, Finance, Money, Corporate finance, Equity securities, Stock market, Venture capital, Legal entities, Preferred stock, Liquidation preference, Limited liability company, Stock

RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.

Key Points:

RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.
The distributions were calculated based on the preferred shares Liquidation Preference of $25.00 per share and most current quarterly distribution rate per share of $0.27344 for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.s 4.375% Series A Cumulative Preferred Stock, and $0.36719 for RiverNorth Specialty Finance Corporations 5.875% Series A Term Preferred Stock, respectively.
RiverNorth is not a tax advisor and investors should consult a tax professional for guidance regarding their specific tax situation.
RiverNorth is a registered trademark of RiverNorth Capital Management, LLC.

Franchise Group, Inc. Closes Preferred Stock Offering

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星期五, 一月 15, 2021

Finance, Financial markets, Money, Corporate finance, Equity securities, Stock market, Venture capital, Preferred stock, Stock, Liquidation preference, NASDAQ, Par value

ORLANDO, Fla., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced the closing of its previously announced underwritten registered public offering of shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the Preferred Stock), at an offering price of $25.20 per share.

Key Points:

ORLANDO, Fla., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced the closing of its previously announced underwritten registered public offering of shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the Preferred Stock), at an offering price of $25.20 per share.
This offering was a reopening of the Companys original issuance of Preferred Stock, which closed on September 18, 2020.
The additional shares of Preferred Stock sold in this offering are consolidated, form a single series, and are fully fungible with all outstanding Preferred Stock.
The Preferred Stock is listed on The NASDAQ Global Market under the symbol FRGAP.

Citigroup Announces Full Redemption of Series S Preferred Stock and Partial Redemption of Series R Preferred Stock

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星期三, 一月 13, 2021

Banking, Other Professional Services, Professional services, Finance, Financial markets, Finance, Financial economics, Equity securities, Corporate finance, Stock market, Preferred stock, Stock, Liquidation preference, Dividend

Citigroup is also redeeming 18,600 shares out of 60,000 shares outstanding of its 6.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series R (the Series R Preferred Stock), equivalent to $465 million out of an outstanding total of $1.5 billion aggregate liquidation preference of Series R Depositary Shares representing interests in its Series R Preferred Stock.

Key Points:

Citigroup is also redeeming 18,600 shares out of 60,000 shares outstanding of its 6.125% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series R (the Series R Preferred Stock), equivalent to $465 million out of an outstanding total of $1.5 billion aggregate liquidation preference of Series R Depositary Shares representing interests in its Series R Preferred Stock.
The redemption date for the Series S Preferred Stock and related Series S Depositary Shares is February 12, 2021 (the Series S Redemption Date).
The redemption date for the Series R Preferred Stock and related Series R Depositary Shares is February 16, 2021 (the Series R Redemption Date).
Dividends on the Series R Depositary Shares representing the Series R Preferred Stock that are redeemed will cease to accrue beginning on the Series R Redemption Date.

Franchise Group, Inc. Announces Offering of Series A Cumulative Perpetual Preferred Stock

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星期一, 一月 11, 2021

Financial markets, Finance, Money, Corporate finance, Stock market, Equity securities, Venture capital, Preferred stock, Stock, Par value, Liquidation preference, Series A round

ORLANDO, Fla., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced it has commenced an underwritten registered public offering of shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the Preferred Stock).

Key Points:

ORLANDO, Fla., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced it has commenced an underwritten registered public offering of shares of its 7.50% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share (the Preferred Stock).
The Company expects to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock in connection with the offering.
This offering is a reopening of the Companys original issuance of Preferred Stock, which occurred on September 18, 2020.
The additional shares of Preferred Stock sold in this offering will be consolidated, form a single series, and be fully fungible with all outstanding Preferred Stock.

Maiden Announces Expiration and Results of Tender Offers for Its Preference Shares, Series A, Series C and Series D

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星期三, 十二月 23, 2020

Banking, Professional services, Insurance, Finance, Financial markets, Finance, Money, Stock market, Venture capital, Equity securities, Corporate finance, Preferred stock, Liquidation preference, Share, Security, Preference

The consideration for each Series A Preference Share, each Series C Preference Share and each Series D Preference Share tendered and accepted for purchase pursuant to the Offer will equal $10.50 (the Offer Price).

Key Points:

The consideration for each Series A Preference Share, each Series C Preference Share and each Series D Preference Share tendered and accepted for purchase pursuant to the Offer will equal $10.50 (the Offer Price).
The Company expects that the settlement date for the Offer will be December 24, 2020.
The Offer expired on December 22, 2020 at 11:59 p.m., New York City time (the Expiration Time).
The Company has accepted the aggregate liquidation preference amounts for each series of Securities set forth in the table above.

Gabelli Healthcare & WellnessRx Trust Announces the Issuance of $40 Million of 4.00% Series C Cumulative Preferred Shares

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星期一, 十二月 21, 2020

Finance, Banking, Other Health, Health, Professional services, Financial markets, Finance, Money, Corporate finance, Equity securities, Stock market, Preferred stock, Liquidation preference

The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (NYSE:GRX) (the Fund) is pleased to announce the issuance of two million 4.00% Series C Cumulative Preferred Shares (Series C Preferred) with an aggregate liquidation value of $40 million in a private placement.

Key Points:

The Board of Trustees of The Gabelli Healthcare & WellnessRx Trust (NYSE:GRX) (the Fund) is pleased to announce the issuance of two million 4.00% Series C Cumulative Preferred Shares (Series C Preferred) with an aggregate liquidation value of $40 million in a private placement.
The Series C Preferred will pay distributions quarterly at an annual rate of 4.00% of the $20.00 per share liquidation preference, beginning on March 26, 2021.
The Series C Preferred is non-callable for three years, and is subject to mandatory redemption by the Fund on December 18, 2024.
The Gabelli Healthcare & WellnessRx Trust is a diversified, closed-end management investment company with $318 million in total net assets whose primary investment objective is long-term growth of capital.

Ontrak Announces Follow-On Offering of Non-Convertible Perpetual Preferred Stock

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星期二, 十二月 15, 2020

Ontrak, Inc. (NASDAQ: OTRK, OTRKP) (Ontrak or the Company), a leading AI-powered and telehealth enabled, virtualized healthcare company, today announced that it has commenced an underwritten public offering of shares of its Series A Cumulative Perpetual Preferred Stock (the Series A Preferred Stock) with a liquidation preference of $25.00 per share.

Key Points:

Ontrak, Inc. (NASDAQ: OTRK, OTRKP) (Ontrak or the Company), a leading AI-powered and telehealth enabled, virtualized healthcare company, today announced that it has commenced an underwritten public offering of shares of its Series A Cumulative Perpetual Preferred Stock (the Series A Preferred Stock) with a liquidation preference of $25.00 per share.
The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series A Preferred Stock initially sold to the public.
The Series A Preferred Stock is listed on the Nasdaq Global Market under the symbol OTRKP.
The offering of the Series A Preferred Stock will be made under the Companys existing effective shelf registration statement (File No.