qualcuno mi da un parere? io ho capito che se la società dopo il 15/10/2027 non comunica di voler cambiare il dividendo da fisso a variabile, lo stock holder (e non l'emittente) ha diritto a convertire le azioni preferred in azioni ordinarie se si manifestano alcune circostanze... è così secondo voi?
New York Mortgage Trust, Inc., 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/15/2027 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions at a fixed rate equal of 8.00% per annum ($2.00 per annum or $0.50 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first calendar day of the month in which the payment is due (NOTE: the ex-dividend date is one business day prior to the record date). From 10/15/2027 distributions will be paid at a floating rate equal to three-month LIBOR plus a spread of 5.695% per annum, Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details).
