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As noted by Ken Priority Income Fund (not exchanged listed) has teed up another new issue. This new issue is a perpetual preferred (they have sold mostly term preferreds in the past). They have filed a new registration statement–so they plan to come w…

Soluna Holdings (SLNH) (previously Mechanical Technology) is selling more of their 9.00% perpetual preferred stock. The initial offering was only in mid August. As you might expect the shares which were already trading weakly in the $22/share area have…

Another rough day in the equity markets–although maybe prices have found their bottom for the day. The S&P500 is off about 4.3% from the 52 week high so hardly a ‘correction’ (actually not a correction at all–just kind of a wiggle). Interestingly…

Let’s get this short week rolling. Monday and Tuesday could be a bit wild in equities with some subdued action as the week wears on and we near the Christmas holiday. The S&P500 traded in a range of 4600 to a high of 4712 closing the week at 4621….

It was a pretty wild and crazy week a number of days this week with some of the high flyers in the markets taking quite the thrashing. Fortunately I own essentially no common stocks so for me it simply was something interesting to watch. Most interesti…

Finally we have the OTC ticker released. It will trade under temporary symbol GBRPV.

Home builder and land developer Green Brick Partners Inc (GRBK) has priced their previously announced preferred stock offering. The issue prices at a coupon of 5.75%. The issue is cumulative and qualified. The issue has the typical 5 year optional rede…

Texas homebuilder and land developer Green Brick Partners (GRBK) has announced they are selling a new perpetual preferred stock issue. The $25/share issue will be cumulative . There will be an optional early redemption starting in 2026. Egan Jones rate…

We see the Fed announcement in 5 minutes and for once in a great while this one has a potential to move markets. Equities have been quiet all morning with the 10 year treasury up 1 basis point. ‘Tension on the tape’ as we would say in the old days. Not…

Financial REIT Sachem Capital (SACH) has priced their previously announced baby bond. The issue prices at 6.00% for 1.8 million shares (bonds). Another 270,000 are available for over allotment. This issue is rated BBB+ from Egan Jones. There is no OTC…

This falls in the ‘whoa is me’ category. Large business development company Prospect Capital (PSEC) sold a perpetual preferred some time back–7/2021. The issue has a 5.35% coupon with a BB rating from S&P and a Ba2 from Moody’s–not investment gra…

Real estate finance REIT Sachem Capital (SACH) has announced a new issuance of $25 baby bonds. These notes will have an early redemption starting in 12/2023 with a final maturity in 2026. The company has placed this in the prospectus– We intend to use…