Cadiz Inc. 8.875% Series A Cumulative Perpetual Preferred Stock




Fat Brands Inc. 8.25% Series B Cumulative Preferred Stock

Redeemable starting 7/31/2021 for $27.50/shares. Each anniversary year the redemption premium is reduced by 2% until the 5th year anniversary (7/16/2025) when the redemption is $25.00 plus accrued and unpaid dividends.
On 6/15/2021 the company reopened this issue with an additional 420,000 shares




AMMO Inc. 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock




Liberty Broadband 7% Series A Cumulative Redeemable Preferred Stock

This issue has no early redemption feature and will be redeemed in 2039 – the 21st anniversary after issuance.

Originally issued by GCI Liberty prior to a combination with Liberty Broadband. From the Liberty Broadband 10K–
Liberty Broadband Preferred Stock was issued as a result of the Combination on December 18, 2020. Each share of GCI Liberty Preferred Stock outstanding immediately prior to the closing of the Combination was converted into one share of newly issued Liberty Broadband Preferred Stock. The Company is required to redeem all outstanding shares of Liberty Broadband Preferred Stock out of funds legally available, at the liquidation price plus all unpaid dividends (whether or not declared) accrued from the most recent dividend payment date through the redemption date, on the first business day following March 8, 2039. There were 7,300,000 shares of Liberty Broadband Preferred Stock authorized and 7,193,631 shares issued and outstanding at December 31, 2020. An additional 42,700,000 shares of preferred stock of the Company are authorized and are undesignated as to series. The Liberty Broadband Preferred Stock is accounted for as a liability on the Company’s consolidated balance sheets because it is mandatorily redeemable. As a result, all dividends paid on the Liberty Broadband Preferred Stock are recorded as interest expense in the Company’s consolidated statements of operations.

From the GCI Liberty SEC filings prior to the combination with Liberty Broadband–GCI Liberty Series A Cumulative Redeemable Preferred Stock (the “Preferred Stock”) was issued as a result of the auto conversion that occurred on March 8, 2018. The Company is required to redeem all outstanding shares of Preferred Stock out of funds legally available, at the liquidation price plus all unpaid dividends (whether or not declared) accrued from the most recent dividend payment date through the redemption date, on the first business day following the twenty-first anniversary of the March 8, 2018 auto conversion. There were 7,500,000 shares of Preferred Stock authorized and 7,199,697 shares issued and outstanding at September 30, 2020. An additional 42,500,000 shares of preferred stock of the Company are authorized and are undesignated as to series. The Preferred Stock is accounted for as a liability in the accompanying condensed consolidated balance sheets because it is mandatorily redeemable. As a result, all dividends paid on the Preferred Stock are recorded as interest expense in the accompanying condensed consolidated statements of operations.




Babcock and Wilcox Enterprises Inc. 7.75% Series A Cumulative Perpetual Preferred






Harrow Health Inc. 8.625% Senior Notes Due 2026




Brookfield BRP Holdings (Canada) Inc. 4.625% Perpetual Subordinated Notes




XOMA Corporation 8.375% Series B Cumulative Perpetual Preferred Stock




Textainer Group Holdings Limited 7.00% Series A Cumulative Redeemable Perpetual Preference Shares

Coupon is set at 7.00% until 6/14/2026. On 6/15/2026 the coupon is reset at 6.134% plus the 5 year treasury. The issue resets on every 5th anniversary.




Fortress Transportation and Infrastructure 8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Stock

Coupon is fixed until 6/15/2026 at 8.25% after which it will reset at the 5 year treasury rate plus a spread of 7.378%. There after the coupon will reset every 5 years.

This is a K-1 issuing security





Babcock and Wilcox Enterprises Inc. 8.125% Senior Notes Due 2/28/2026






Alta Equipment Group Inc. 10% Series A Cumulative Perpetual Preferred






Xoma Corporation 8.625% Series A Cumulative Perpetual Preferred Stock




Fortress Biotech 9.375% Series A Cumulative Perpetual Preferred Stock

Follow on offerings have been made numerous times since the original issuance at prices ranging from $18/share to $25/share. As of 9/30/2020 there were 3.427 million shares outstanding

Dividends were originally paid quarterly but in June, 2020 dividend payments were changed to monthly




Qurate Retail Group Inc. 8.0% Series A Cumulative Preferred Stock Due 3/15/2031 ($100/Share)

 

These shares, if outstanding, must be redeemed on 3/15/2031

If called on or after the 5th anniversary of issuance and before the 6th anniversary a 4% premium is paid on redemption. If paid on or after the 6th anniversary but before the 7th anniversary a 2% premium is paid on redemption. No premium is paid after the 7th anniversary date (2027).




Franchise Group Inc 7.50% Series A Cumulative Perpetual Preferred Stock


The company reopened this issue on 1/12/2021 selling 2.976 million shares with another 446,000 available for over allotment.






Wesco International 10.625% Fixed Rate Reset Cumulative Preferred Stock

Coupon is fixed until 6/22/2025 after which it is reset every 5 years at the 5 year treasury rate plus a spread of 10.325%. The issue is only redeemable on a reset date–i.e. every 5 years.







Chicken Soup for the Soul Entertainment 9.50% Notes Due 2025

Issue reopened and 375,500 new shares sold




Bunge LTD 4.875% Cumulative Convertible Perpetual Preference Shares

Redeemable only if the price of the commons shares trade at more than 130% of conversion price ($92.20) for 20 tradings days during a 30 day consecutive period

11/1/2020 conversion is now at $81.81




Triton International LTD, 6.875% Series D Cumulative Redee,able Perpetual Prference Shares

We have listed this issue as NON-qualified for preferential tax treatment. The prospectus is not clear on this matter and it is possible it will be qualified.




Ford Motor Company 6.00% Notes due 2059





Fortress Transportation and Infrastructure Investors LLC 8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Stock

Coupon is fixed until 12/15/2024 at 8.00% after which it will float at 3 month Libor plus a spread of 6.447%.

This is a K-1 issuing security





QVC Inc. 6.25% Senior Secured Notes Due 2068

Parent QVC is not a traded security




Ford Motor Company 6.20% Notes due 2059




Triton International Limited 7.375% Series C Cumulative Redeemable Perpetual Preference Shares

We have listed this issue as NON-qualified for preferential tax treatment. The prospectus is not clear on this matter and it is possible it will be qualified.