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ACR-C ACRES Commercial Realty Corp. 8.625% Fixed-to-Floating Series C Cumulative Preferred

From, and including, the date of issuance to, but excluding, July 30, 2024, we will pay cumulative distributions at an initial rate of 8.625% per annum based on the $25.00 liquidation preference, or $2.15625 per share. From, and including, July 30, 2024 and thereafter, we will pay cumulative distributions at a floating rate equal to three-month LIBOR plus a spread of 5.927% per annum based on the $25.00 liquidation preference, provided that such floating rate shall not be less than the initial rate of 8.625% at any date of determination. Distributions will be paid quarterly in arrears on the 30th day of January, April, July and October of each year, beginning on July 30, 2014. The first distribution will be paid on July 30, 2014, will be for less than a full quarter and will reflect distributions accumulated from, and including, the date of original issuance through, but excluding, July 30, 2014. Generally, we may not redeem the stock until July 30, 2024. On and after July 30, 2024, we may, at our option, redeem the stock, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to, but excluding, the date of redemption.   This security was issued by Arc Document Solutions Inc, whose common stock symbol is ARC.

$20.46  +0.13 (0.64%)
As of 03/24/2023 16:00:00 EST     IEX book   CBOE book

Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Non-convertible
GICS sector:  Industrials
Industry:  Specialty Business Services
Index country:  USA
Country of incorporation:  USA
IPO date:  06/06/2014
Outstanding shares:  4,800,000
Average volume:  16,309
Market cap:   $98,448,000
Current dividend yield:  10.51%    calculation
Initial coupon rate:    8.250%
Spread to LIBOR: 0.059270
Cumulative:    Yes
Liquidation value:   $25.00
Callable after:   07/30/2024
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K

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