M2 EQUITYBITES-January 3, 2018-Rexnord announces dividend on Mandatory Convertible Preferred Stock
The board of directors of Rayonier Advanced Materials Inc (NYSE:RYAM) on Thursday declared a second quarter dividend of USD2.00 per share of its mandatory convertible preferred stock
Assuming the value of the underlying Ebix Common Stock to be received for each Yatra share is $4.90, the value offered per Yatra Warrant would be 37c The Ebix Convertible Preferred Stock
will offer all Yatra shareholders the right to have redeemed, for a cash price of $5.31, the shares of Ebix Convertible Preferred Stock
received per Yatra Ordinary Share.
(NYSE: BDC), a global provider of high quality, end-to-end signal transmission solutions for mission-critical applications, has announced that, in accordance with Belden's Certificate of Designations, all of its outstanding 6.75% Series B Mandatory Convertible Preferred Stock
(the "Mandatory Convertible Preferred Stock
") will automatically convert into shares of Belden common stock on July 15, 2019 (the "Mandatory Conversion Date"), at the conversion rate of 132.50 shares of common stock per share of Mandatory Convertible Preferred Stock
(or 1.3250 shares of common stock per depositary share, each of which represents a 1/100th fractional interest in a share of the Mandatory Convertible Preferred Stock
(NYSE: BDC PR B) (the "Depositary Shares")), the company said.
TELECOMWORLDWIRE-July 17, 2019-Belden announces conversion of 6.75% Series B mandatory convertible preferred stock
Each Equity Unit will initially be in the form of a 2019 Series A Corporate Unit consisting of a contract to purchase shares of Dominion Energy common stock (the Common Stock) in the future and a 1/10 undivided beneficial ownership interest in one share of Dominion Energy cumulative perpetual convertible preferred stock
with a liquidation preference of $1,000 per share (the Convertible Preferred Stock
The board also declared a dividend to holders of its 7% Series A Cumulative Perpetual Convertible Preferred Stock
. The company elected, pursuant to the terms of the convertible preferred shares, to have the aggregate amount of $6.5 million that would have been payable in cash as a dividend added to the liquidation preference of such shares as a payment in kind.
The offering was comprised of 5,181,346 units, priced at an offering price of USD 1.93 per unit, with each unit consisting of one share of series A convertible preferred stock
, having a conversion price of USD 1.93, a two-year warrant to purchase one share of common stock with an exercise price of USD 1.93 per share, and a five-year warrant to purchase one share of common stock with an exercise price of USD 1.93 per share.
The Company completed a public offering of 8,000 units, each consisting of one share of the Company's Series A Convertible Preferred Stock
and one Series 1 warrant to purchase one share of Series A Convertible Preferred Stock
, one Series 2 warrant to purchase one share of Series A Convertible Preferred Stock
and one Series 3 warrant to purchase one share of Series A Convertible Preferred Stock
, each exercisable at an initial exercise price of $1,000 per share of Series A Convertible Preferred Stock
BANKING AND CREDIT NEWS-May 4, 2018-a[euro](c)Cowen declares Series A convertible preferred stock
commenced a public offering of 2,500,000 shares of its Series D Mandatory Convertible Preferred Stock
, par value $1.00 per share with a liquidation preference of $100.00 per share, subject to market conditions.
The contract has been signed to purchase up to around USD620,000 of its Series E convertible preferred stock
and warrants to purchase Series E convertible preferred stock