Summary
Realty Income Corporation (O) filed an 8-K report on April 17, 2012, disclosing the pricing and agreement to sell an additional 1,400,000 shares of its 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock. This offering, priced at $25.2863 per share plus accrued dividends, aims to increase the total outstanding Class F Preferred Stock to 16,350,000 shares upon closing. The issuance is part of the company's ongoing capital management strategy.
Key Highlights
- 1Realty Income Corporation (O) is issuing an additional 1,400,000 shares of its 6.625% Class F Cumulative Redeemable Preferred Stock.
- 2The offering price for the new shares is $25.2863 per share, plus accrued dividends.
- 3The transaction is expected to increase the total outstanding Class F Preferred Stock to 16,350,000 shares.
- 4The Class F Preferred Stock has a fixed dividend rate of 6.625% and pays monthly.
- 5These shares are not redeemable by the company until February 15, 2017, except under specific circumstances like maintaining REIT status or a change of control.
- 6Upon a change of control, holders may have the option to convert their preferred shares into Realty Income's common stock.
- 7The preferred stock has no stated maturity date and remains outstanding indefinitely unless redeemed or converted.