BHR-B Braemar Hotels 5.50% Series B Cumulative Convertible Preferred Stock
Dividends on the Series B Preferred Stock issued in this offering will accrue and be cumulative from April 15, 2016, when, as and if declared by our board of directors out of legally available funds for such purpose, each July 15, October 15, January 15 and April 15 (or the next succeeding business day) to holders of record on the preceding June 30, September 30, December 30 and March 30. On and after June 11, 2020, we may redeem the Series B Preferred Stock, in whole or in part, for a cash redemption price of $25.00 per share, plus any accumulated, accrued and unpaid dividends. Each outstanding share of Series B Preferred Stock shall be convertible at any time at the option of the holder into that number of whole shares of our common stock at an initial conversion price equal to $18.90 (the "Conversion Price"), which represents an initial conversion rate of 1.3228 shares of our common stock (as may be subject to adjustment as provided in the prospectus, the "Conversion Rate"). A share of Series B Preferred Stock called by the Company for redemption shall be convertible into shares of our common stock up to and including, but not after, the close of business on the date fixed for redemption unless we default in the payment of the amount payable upon redemption. Commencing June 11, 2016, we at our option, may cause the Series B Preferred Stock to be converted in whole or in part, on a pro rata basis, into fully paid and nonassessable shares of our common stock at the applicable Conversion Rate, provided that the Closing Bid Price of the common stock shall have equaled or exceeded 110% of the Conversion Price for the immediately preceding 45 consecutive trading days ending three days prior to the date of notice of conversion. This security was issued by Braemar Hotels & Resorts, Inc, whose common stock symbol is BHR.
$15.51 -0.03 (-0.19%)
As of 03/24/2023 16:00:00 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Convertible
GICS sector: Real Estate
Industry: REIT—Hotel & Motel
Index country: USA
Country of incorporation: USA
IPO date: 05/02/2016
Outstanding shares: 4,965,850
Average volume: 5,894
Market cap: $78,808,040
Current dividend yield: 8.66% calculation
Coupon rate: 5.500%
Cumulative: Yes
Liquidation value: $25.00
Callable after: 06/11/2020
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: BD8ZZ68