Insurance company SiriusPoint Inc (SPNT) recently filed a registration for holders of their 8% resettable cumulative preferred stock.
NOTE– the sellers of the 5 million shares are private equity funds (they own a total of 8 million shares).
These shares were priced last night at $27.47/share. Now trading at $27.00 under OTC grey market ticker SRSPF.
The shares have an optional redemption on 2/26/2026, which will also will be the 1st ‘reset’ rate date.
The reset rate is the 5 year treasury plus 7.298%.
The issue is rated BB+ by S&P and Fitch.
NOTE–per James below your brokerage may try to tack on a foreign security fee.