What is the redemption price for these preferred shares?

The redemption price is $25.00 per share, plus any accrued and unpaid dividends up to the redemption date of April 19, 2013. The aggregate redemption prices range from $25.013542 to $25.089063 depending on the series.

What should preferred stockholders do upon receiving this notice?

Preferred stockholders should review the specific redemption amount for their series and be prepared for their shares to be redeemed on April 19, 2013. No further action is typically required by the stockholder unless they hold physical certificates and need to follow specific surrender instructions provided by the company or its paying agent.

Why would Prologis redeem its preferred stock?

Companies typically redeem preferred stock to simplify their capital structure, eliminate dividend payments which may be higher than current market interest rates, or to refinance debt at more favorable terms. This action suggests Prologis may be taking advantage of lower interest rate environments or restructuring its balance sheet.

PLD/PLDGP 8-K SEC Disclosure

Q: Which series of preferred stock is Prologis redeeming?

Prologis is redeeming the 6 1/2% Series L, 6 3/4% Series M, 7.00% Series O, 6.85% Series P, Series R, and Series S Cumulative Redeemable Preferred Stocks.

Summary

Prologis, Inc. (PLD) has filed a Form 8-K on March 21, 2013, to announce the redemption of all outstanding shares of several series of its cumulative redeemable preferred stock. The redemption is set to occur on April 19, 2013, with a redemption price of $25.00 per share, plus accrued and unpaid dividends. This action indicates a move by Prologis to simplify its capital structure and potentially refinance its debt at more favorable terms. Investors holding these preferred shares should review the specific redemption prices and dates, as their investment in these securities will terminate on the redemption date. This redemption primarily affects holders of the 6 1/2% Series L, 6 3/4% Series M, 7.00% Series O, 6.85% Series P, Series R, and Series S Cumulative Redeemable Preferred Stocks. The aggregate redemption price varies slightly due to differences in accrued dividends. The company is providing notice as required by the terms of these preferred stock series. This event is significant for preferred stockholders as it represents a forced sale of their holdings at a predetermined price.

Key Highlights

1Prologis is redeeming all outstanding shares of multiple series of its preferred stock.
2The redemption date is scheduled for April 19, 2013.
3The base redemption price for all affected preferred stock series is $25.00 per share.
4Accrued and unpaid dividends will be paid in addition to the redemption price, leading to aggregate redemption prices slightly above $25.00.
5The affected series include Series L, M, O, P, R, and S Cumulative Redeemable Preferred Stocks.
6The filing includes a press release dated March 21, 2013, announcing these redemptions.

Prologis, Inc. 8-K Report, Corporate Update (Mar 21, 2013)

Summary

Key Highlights

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