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Preferred Stock Calendar
On The Horizon
GREAT WESTERN BANCORP, INC.:
• $50 million $1,000-par fixed-to-floating rate subordinated notes
• Piper Sandler & Co. (bookrunner)
• Redeemable after five years at par; prior to that, after a change in law that prevents the company from deducting interest, a tier 2 capital event or if the company is required to register as an investment company at par
• Sioux Falls, S.D.-based bank holding company
TRISTATE CAPITAL HOLDINGS, INC.:
• 5.75% fixed-to-floating rate subordinated notes due May 15, 2030
• Stephens Inc., PNC Capital Markets LLC and Raymond James & Associates, Inc. (bookrunners)
• Coupon is fixed until May 15, 2025, then converts to a floating rate equal to Libor plus 536 bps
• Pittsburgh-based bank holding company
MODULAR MEDICAL, INC.:
• Up to $50 million $25-par cumulative redeemable perpetual preferred stock at 13%
• Common stock purchase warrants of $6 million shares at $11.00 per share
• Redeemable after three years
• Escondido, Calif.-based medication delivery technology company
MITESCO, INC.:
• Up to $15 million 10% cumulative series A preferred stock
• CIM Securities (lead placement agent)
• Redeemable after three years
• Denver-based holding company specializing in health care
INVESTVIEW, INC.:
• $50 million $25-par 13% cumulative perpetual preferred stock
• Capital Engine (bookrunner)
• Redeemable after three years
• Aiken, S.C.-based investor education company
ORIGINCLEAR INC.:
• $19,145,000 $25-par series M preferred stock
• Dalmore Group, LLC (broker-dealer)
• Proceeds for general corporate purposes including working capital
• Los Angeles-based water treatment company
AYTU BIOSCIENCE, INC.:
• $17.50-par series I cumulative redeemable preferred stock
• H.C. Wainwright & Co., LLC (bookrunner)
• Proceeds for working capital and other general corporate purposes
• Englewood, Colo.-based specialty pharmaceutical company
GLADSTONE LAND CORP.:
• $13 million best-efforts offering of $25-par 6% series C cumulative redeemable preferred stock
• Gladstone Securities, LLC (dealer-manager)
• $10 million designated as the primary offering at $25.00 per share and up to $3 million as a dividend reinvestment plan at $22.75 per share.
• McLean, Va.-based real estate investment trust
GLADSTONE COMMERCIAL CORP.:
• $636.5 million best-efforts offering of $25-par 6% series F cumulative redeemable preferred stock
• Gladstone Securities, LLC (dealer-manager)
• $500 million designated as the primary offering at $25.00 per share and up to $136.5 million as a dividend reinvestment plan at $22.75 per share.
• McLean, Va.-based real estate investment trust
CLOUDCOMMERCE, INC.:
• Up to $20 million $25-par 10% series F preferred stock
• Dalmore Group, LLC (broker-dealer)
• Proceeds for general corporate purposes
• San Antonio-based digital advertising company
ORCHID ISLAND CAPITAL, INC.:
• $25-par series A cumulative redeemable preferred stock
• Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC and MUFG (bookrunners)
• Proceeds for investing in a targeted mix of agency residential mortgage-backed securities and for general corporate purposes
• Vero Beach, Fla.-based specialty finance company investing in residential mortgage-backed securities
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