Thanks to J I see that tiny crypto miner and vibration equipment maker Mechanical Technology Incorporated (MKTY) has sold a new issue of perpetual preferred stock. They have sold 720,000 shares.
The issue is cumulative, perpetual and likely non qualified because of lack of income–so it will probably be return of capital.
The company had about $3 million in revenue last quarter so do your due diligence on this one.
The coupon is 9.0%.
The issue is now trading under ticker MKTYP–last priced at $24.17.