AVGOP Broadcom Inc. - 8.00% Mandatory Convertible Preferred Stock, Series A
Dividends will be payable on a cumulative basis when, as and if declared by our board of directors at an annual rate of 8.00% on the liquidation preference of $1,000 per share. We may pay declared dividends, at our election, in cash or, subject to certain limitations, in shares of our common stock or a combination of cash and shares of our common stock at our election. The dividend payment dates will be March 31, June 30, September 30 and December 31 of each year, commencing on December 31, 2019, and to, and including, September 30, 2022. Unless earlier converted, each share of the Mandatory Convertible Preferred Stock will automatically convert on the second business day immediately following the last trading day of the settlement period into between 3.0303 and 3.5422 shares of our common stock, subject to anti-dilution adjustments. The number of shares of our common stock issuable on conversion of the Mandatory Convertible Preferred Stock will be determined based on the Average VWAP (as defined herein) per share of our common stock over the 20 consecutive trading day period beginning on and including the 21st scheduled trading day immediately preceding September 30, 2022, which we refer to as the “Settlement Period.” At any time prior to September 30, 2022, holders may elect to convert each share of the Mandatory Convertible Preferred Stock into shares of our common stock at the minimum conversion rate of 3.0303 shares of our common stock per share of the Mandatory Convertible Preferred Stock, subject to anti-dilution adjustments; provided, however, that if holders elect to convert any shares of the Mandatory Convertible Preferred Stock during a specified period beginning on the effective date of a Fundamental Change (as defined herein), such shares of the Mandatory Convertible Preferred Stock will be converted into shares of our common stock at the Fundamental Change Conversion Rate (as defined herein), and the holders will also be entitled to receive a Fundamental Change Dividend Make-Whole Amount and Accumulated Dividend Amount (each as defined herein). The Mandatory Convertible Preferred Stock will not be redeemable at our election. This security was issued by Broadcom Inc., whose common stock symbol is AVGO.
$1,406.70 -37.32 (-2.58%)
As of 09/29/2022 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Convertible
GICS sector: Information Technology
Industry: Semiconductors
Index country: USA
Country of incorporation: USA
IPO date: 09/25/2019
Outstanding shares: 3,250,000
Average volume: 36,981
Market cap: $4,571,775,000
Current dividend yield: 5.69% calculation
Coupon rate: 8.000%
Cumulative: Yes
Liquidation value: $1,000.00
Callable after: 01/01/1900
Maturity date: 09/30/2022
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: BKTDW14