Lodging REIT Summit Hotel Properties (INN) will be selling a new issue of preferred stock.
Being a REIT the issue will be cumulative, but not qualified.
The new issue will have a permanent ticker of INN-F on the NYSE after a short stint on the OTC grey market (temporary ticker not yet announced).
The company currently has 2 preferred issues outstanding of which the INN-D 6.45% issue is currently redeemable. The company has announced plans in the prospectus to redeem this issue.
J was right on top of this one.