IIVIP II-VI Incorporated - 6.00% Series A Mandatory Convertible Preferred Stock

Dividends on the Mandatory Convertible Preferred Stock will be payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee of our board of directors, at an annual rate of 6.00% of the liquidation preference of $200.00 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, no par value per share, or in any combination of cash and shares of our common stock on January 1, April 1, July 1 and October 1 of each year, commencing on October 1, 2020 and ending on, and including, July 1, 2023. Each share of the Mandatory Convertible Preferred Stock has a liquidation preference of $200.00. Unless earlier converted, each share of the Mandatory Convertible Preferred Stock will automatically and mandatorily convert on the second business day immediately following the last Trading Day of the Settlement Period into between 3.8760 and 4.6512 shares of our common stock (respectively, the “Minimum Conversion Rate” and “Maximum Conversion Rate”), each subject to anti-dilution adjustments as described herein. 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 per share of our common stock over the 20 consecutive Trading Day period (the “Settlement Period”) commencing on, and including, the 21st Schedule Trading Day immediately preceding July 1, 2023. At any time prior to July 1, 2023, holders may elect to convert each share of the Mandatory Convertible Preferred Stock into shares of common stock at the Minimum Conversion Rate of 3.8760 shares of our common stock per share of the Mandatory Convertible Preferred Stock. If you 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 you will also be entitled to receive a Fundamental Change Dividend Make-whole Amount and Accumulated Dividend Amount.  This security was issued by Ii Vi Inc, whose common stock symbol is IIVI.

$282.19  -6.29 (-2.18%)
As of 06/18/2021 11:11:49 EST     IEX book   CBOE book


Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Convertible
GICS sector:  Information Technology
Industry:  Scientific & Technical Instrum
Index country:  USA
Country of incorporation:  USA
IPO date:  08/07/2020
Outstanding shares:  2,000,000
Average volume:  12,731
Market cap:   $576,240,000
Current dividend yield:  4.16%    calculation
Coupon rate:    6.000%
Cumulative:    Yes
Liquidation value:   $200.00
Callable after:   01/01/1900
Maturity date:    07/01/2023
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K
CUSIP:    902104306
ISIN:        US9021043065
Sedol:      BMQ68M3

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