Compass Diversified Holdings (CODI) has priced the previously announced preferred.
The issue was priced at 7.875%, with 4 million shares being sold, with another 600,000 being available for over allotments. This issue will issue a K-1 at tax time.
I had originally thought this issue might be interesting, with a possibility that I might want a small position. But upon further review of the currently outstanding CODI preferreds I see no reason to rush into any purchase–CODI issues trade weakly.
The issue will trade immediately on the OTC Grey market under temporary ticker CMPSP.