callable preferred stock

Callable Preferred Stock

A preferred stock that the issuing company may redeem under certain, stated circumstances. That is, the company may require the callable preferred stock to be exchanged for a given amount of cash. A company may issue callable preferred stock to protect itself from the possibility that its obligations to pay guaranteed dividends may become too expensive in the future.

callable preferred stock

An issue of preferred stock that may be repurchased by the issuer at a specific price, usually par value or slightly above. The option to repurchase such stock is held by the issuer, not the investor. Calls can be expected when market rates of interest have fallen significantly below the yield on the preferred stock at the time the stock was issued.
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com/ domain name and certain related assets for a purchase price of $1,125,000 payable in cash and convertible, redeemable and callable preferred stock.
The shares included in the shelf registration consist of 594,000 shares of outstanding common stock, up to 594,000 shares of common stock from possible exercises of Series G Warrants and up to 297,000 shares of common stock from the call or eventual conversion of Series B Callable Preferred Stock, all of which were issued in connection with the company's recent purchase of 77% of the outstanding common stock of Poly U/A Systems through a tender offer.
The callable feature of the Series B Callable Preferred Stock entitles IRIS to convert it at any time into common stock equal in number of shares to the $594,000 liquidation value divided by the market price of IRIS common stock at the time of conversion, or $2 per share or IRIS common stock, whichever is greater.
Tendering Poly U/A stockholders will receive three shares of IRIS Common Stock, one share of the new Series B Callable Preferred Stock and three-year Series G Warrants to purchase three shares of IRIS common stock in exchange for each share of Poly U/A common stock tendered and a release of any claims against IRIS and Poly U/A.
The "callable" feature of the Series B Callable Preferred Stock will entitle IRIS to convert the new preferred stock at any time into a number shares of IRIS Common Stock equal to the liquidation value of the preferred stock divided by the market price of the IRIS Common Stock at the time of conversion (subject to a minimum valuation of $2.
The Series B Callable Preferred Stock will automatically convert into IRIS Common Stock under the same formula at the end of three years if not called sooner by IRIS.
IRIS offered three shares of IRIS common stock, one share of a new class of three-year callable preferred stock and three-year warrants to purchase three shares of IRIS common stock in exchange for each share of Poly U/A common stock and a release of any claims against IRIS and Poly U/A from the tendering stockholder.
00 three-year callable preferred stock and warrants to purchase an additional 768,000 shares of IRIS common stock.
The offer will provide Poly U/A stockholders three shares of IRIS common stock, one share of a new class of three-year callable preferred stock and three-year warrants to purchase three shares of IRIS common stock for each share of Poly U/A common stock they hold.
The total consideration was not released, but is in callable preferred stock to be issued by Hughes Resources.