We may redeem the Notes for cash in whole or in part at any time at our option (i) on or after February 28, 2022 and prior to February 28, 2023, at a price equal to $25.75 per note, plus accrued and unpaid interest to, but excluding, the date of redemption, (ii) on or after February 28, 2023 and prior to February 29, 2024, at a price equal to $25.50 per note, plus accrued and unpaid interest to, but excluding, the date of redemption, (iii) on or after February 29, 2024 and prior to February 28, 2025, at a price equal to $25.25 per note, plus accrued and unpaid interest to, but excluding, the date of redemption, and (iv) on or after February 28, 2025 and prior to maturity, at a price equal to 100% of their principal amount, plus accrued and unpaid interest to, but excluding, the date of redemption.
Redemption on 12/15/2021 is at a premium of $1/shares–making redemption $26 plus accrued dividends.On and after 12/15/2022 redemption is at $25,75 plus accrued dividends. On and after 12/15/2023 redemption is at $25.50 plus accrued dividends. On and after 12/15/2024 redemption is at $25.25 plus accrued dividends. On and after 12/15/2025 redemption is at $25 plus accrued dividends.
Dividend Suspended 7/5/2024
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
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).
