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.
Type: Convertible
Hecla Mining Co. $3.50 Series B Cumulative Convertible Preferred Stock
There is no available electronic Propspectus for this older issue
Lexington Realty Trust 6.50% Series C Cumulative Convertible Preferred Stock
Special Opportunities Fund 3.50% Convertible Preferred Stock
RLJ Lodging $1.95 Series A Cumulative Convertible Preferred Shares
Shares are convertible if the common shares trade at $89.09 for 20 consecutive days.
Shares are non-callable-but are convertible
Ready Capital Corp 7.00% Convertible Senior Notes
Was Previously Sutherland Asset Management.
The conversion rate will initially equal 1.4997 shares of our common stock per $25.00 principal amount of notes (equivalent to a conversion price of approximately $16.67 per share of our common stock). The conversion rate, and thus the conversion price, will be subject to adjustment as described in this prospectus supplement. Following the occurrence of a make-whole fundamental change or if we deliver a notice of redemption, we will, in certain circumstances, increase the conversion rate for a holder that converts its notes in connection with such make-whole fundamental change or notice of redemption, as the case may be.
We may not redeem the notes prior to August 15, 2021. We may redeem for cash all or any portion of the notes, at our option, on or after August 15, 2021 if the last reported sale price of our common stock has been at least 120% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No “sinking fund” will be provided for the notes.
Ready Capital Corp 6.25% Series C Cumulative Convertible Preferred Stock
Previously issued by Anworth Mortgage which was acquired by Ready Capital on 3/19/2021 and all terms and conditions remain the same.
Logan Ridge Finance Corp. 5.75% Convertible Notes due 2022
Renamed Logan Ridge Finance 7/1/2021
Conversion was originally at 1.5913 shares per $25 bond, but company did a 1 for 6 reverse split on 7/30/2021 so now conversion is .2652 shares.
There is no early redemption available to the company
QTS Realty Trust 6.50% Series B Cumulative Convertible Perpetual Preferred Stock ($100)
Cincinnati Bell 6 3/4% Cumulative Convertible Preferred Stock