Shares will be converted on 9/1/2021. The initial conversion rate was 1.5291 shares of common stock if the common stock is trading at $32.70 or above. If the common stock is trading below $27.25 the conversion is 1.8349 shares of common. For market prices between $27.25 and $32.70 the conversion will be the converted at the rate of $50 divided by the market price. Because of the mandatory conversion we post the preferred and commons stock charts below.
Sector: Utility
South Jersey Industries Inc. 5.625% Junior Subordinated Notes due 2079
Company is private and shares delisted effective 2/17/2023
The company has the right to defer interest payments for up to 40 consecutive quarters without causing a default. Interest will accrue.
Entergy Texas Inc. 5.375% Series A Preferred Stock, Cumulative, No Par Value
Sempra Energy 5.75% Junior Subordinated Notes due 2079
Spire Inc. 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock