Annaly"), (NYSE: NLY) the Board of Directors of Annaly has declared a Series A Preferred Stock
cash dividend for the first quarter of $0.
All shares of Series A Preferred Stock
not converted into shares of Patapsco Bancorp, Inc.
The remaining 7,650,000 shares of Series A Preferred stock
held by Mr.
In connection with these transactions, the terms of GOGC's Series A Preferred Stock
have been amended such that by March 15, 2005, all such stock will either convert into a newly created Series H Convertible Preferred Stock of GulfWest on a one for one basis or into Common Stock at a conversion price of $0.
Nasdaq:AIRN), announced today that it has entered into Preferred Stock Purchase Agreement, effective September 10, 2004, with Oak Investment Partners XI, Limited Partnership ("Oak") pursuant to which the Company will sell 73,000 shares of Series A Preferred Stock
to Oak for $29.
the exchange agent for the exchange offer, 8,890 shares of Series A preferred stock
, 10,553 shares of Series B preferred stock and 8,584 shares of Series C preferred stock were tendered in exchange for $823,000 aggregate principal amount of the company's new 9.
Holders of the currently outstanding shares of Series A Preferred Stock
and Series B Preferred Stock will agree to reduce the liquidation value of their shares of Preferred Stock from approximately $21,400,000 (which amount includes accumulated dividends) to $10,000,000.
holder, each share of Series A Preferred Stock
, Series B
In addition, the Company announced the redemption of all shares outstanding of its Series A Preferred Stock
The recapitalization transaction consisted of an exchange offer for all outstanding shares of the company's Series A preferred stock
, exchange transactions with the holders of all outstanding shares of its Series B preferred stock and an amendment and restatement of its charter to, among other things, (1) effect a 1-for-4 reverse stock split of its common stock, (2) designate and establish the terms of the Series 1 preferred stock that may be issued in exchange for shares of Series A preferred stock
, (3) eliminate the Series B preferred stock following its exchange for common stock and (4) change the manner of election of Price Legacy's board of directors.
The redemption date of the Series A Preferred Stock
will be March 25, 2004 (the "Redemption Date"), and the redemption price will be $25.
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of the Series A Preferred Stock
, Series B Preferred Stock or Series C Preferred Stock of Dynex Capital.