Preferred Stock Calendar

On The Horizon

HALLMARK FINANCIAL SERVICES INC.:

• $25 million of $25-par senior unsecured notes due August 2024

• Sandler O’Neill + Partners and Incapital (bookrunners)

• Redeemable

• Proceeds will be used for working capital and general corporate purposes, which may include opportunistic business acquisitions and common stock repurchases

• Fort Worth, Texas-based insurance holding company

NATIONAL GENERAL HOLDINGS CORP.:

• $100 million of series B noncumulative perpetual preferred stock

• Morgan Stanley & Co. LLC and UBS Securities LLC (bookrunners)

• Redeemable

• Proceeds will be used for general corporate purposes, which may include acquisitions and supporting current and future policy writings

• New York-based insurance holding company

RED MOUNTAIN RESOURCES INC.:

• 10% series A cumulative redeemable preferred stock, mandatorily redeemable by July 15, 2018

• Northland Capital Markets and Euro Pacific Capital (bookrunners)

• Step-down redemption calendar

• Dividend increases to 12% under certain cases of default

• Proceeds will be used to fund a portion of the company’s fiscal 2015 development program

• Dallas-based growth-oriented company engaged in the acquisition, development and exploration of oil and natural gas properties in established basins with demonstrable prolific producing zones

SCORPIO BULKERS INC.:

• $25-par senior notes due 2019

• Stifel Nicolaus & Co. Inc., Deutsche Bank Securities Inc. and Jefferies & Co. (bookrunners)

• Redeemable at par plus accrued interest

• Proceeds will be used for general corporate purposes, including vessel acquisitions

• Monaco-based shipping company

STARWOOD WAYPOINT RESIDENTIAL TRUST:

• $100 million of series A cumulative redeemable perpetual preferred stock

• Citigroup Global Markets Inc. (bookrunner)

• Change-of-control feature

• Proceeds will be contributed to the operating partnership in exchange for series A cumulative redeemable preferred units. Operating partnership will use funds to acquire assets and investments and for general corporate purposes

• Oakland, Calif.-based real estate investment trust

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