From time to time it happens that new issues are announced–or at least SEC documents are filed, indicating a new issue of preferred stock is ‘coming’, but then we never see the issue.
Smaller mREIT Orchid Island Capital (ORC) is one of the latest to file a 424B5 which is a preliminary prospectus supplement announcing a coming new issue. The original filing was on the 11th and we are still waiting.
Additionally CEF Priority Income Fund (no traded public shares) has refiled their registration statement for a new issue of term preferred stock (this would be PFIA-F). In this case Priority Income is following their normal mode of operating–they keep an updated registration on file–and when they believe the time is right they sell the issue. I am not holding my breath for this issue as they have 5 term preferreds already outstanding–from an investor perspective no reason to wait on a new issue.