Distributed as special dividend to common and Series C holders, not a fundraise
Terms & Documentation
Terms
BTC strategy
No
Ranking
Senior to all Common Stock; parity with future parity classes; junior to Series A and Series C Preferred Stock; junior to all existing and future indebtedness
Liquidation preference
$25.00 per share
Cumulative
Yes
Payment frequency
Monthly
Payment dates
Last day of each month
Rate type
Step-up
Rate reference
10% fixed; steps to 12% if dividends in arrears for 12+ months
Call provision
Redeemable at $25.00/share + accumulated unpaid dividends, at any time, upon 30-60 days' written notice
Sources(1)
FilingForm 8-K (Series E preferred stock Certificate of Designation)