LMRKN Landmark Infrastructure Partners LP Series C Floating-to-Fixed Rate Cumulative Convertible Preferred Units

Distributions are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of February, May, August and November of each year, when, as and if declared by the board of directors of our general partner. The initial distribution will be payable on May 15, 2018 in an amount equal to $0.2090 per Series C Preferred Unit. Distributions accruing from, and including, the date of original issuance and to, but excluding May 15, 2025 (the “Floating Rate Period”) will accrue at an annual rate equal to the greater of (i) 7.00% per annum, and (ii) the sum of (a) three-Month LIBOR (as defined herein) as calculated on each applicable date of determination and (b) 4.698% per annum, based on the $25.00 liquidation preference per Series C Preferred Unit. Distributions accruing on and after May 15, 2025 (the “Fixed Rate Period”) will accrue at 9.00% per annum of the stated liquidation preference. Holders of Series C Preferred Units, at their option, may, at any time and from time to time, convert some or all of their Series C Preferred Units based on an initial conversion rate of 1.3017 common units per Series C Preferred Unit (which is equivalent to an initial conversion price of approximately $19.21 per common unit). On May 15, 2025, May 15, 2028, and each subsequent five-year anniversary date thereafter (each such date, a “designated redemption date”), each holder of Series C Preferred Units shall have the right (a “redemption right”) to require us to redeem any or all of the Series C Preferred Units held by such holder outstanding on such designated redemption date at a redemption price equal to the liquidation preference of $25.00, plus all accrued and unpaid distributions to, but not including, in each case out of funds legally available for such payment and to the extent not prohibited by law, the designated redemption date (the “put redemption price”). The put redemption price for each Series C Preferred Unit is payable, at our sole election, in cash, by delivery of our common units, subject to certain limitations and antidilution adjustments, or a combination of cash and our common units. At any time on or after May 20, 2025, we may redeem the Series C Preferred Units, in whole or in part, out of amounts legally available therefor, at a redemption price of $25.00 per Series C Preferred Unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared.  This security was issued by Landmark Infrastructure Partners LP, whose common stock symbol is LMRK.

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As of 10/25/2021 16:00:00 EST     IEX book   CBOE book


Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Convertible
GICS sector:  Real Estate
Industry:  Real Estate Services
Index country:  USA
Country of incorporation:  
IPO date:  04/20/2018
Outstanding shares:  2,000,000
Average volume:  1,666
Market cap:   $50,840,000
Current dividend yield:  6.88%    calculation
Initial coupon rate:    7.000%
Spread to LIBOR: 0.046980
Cumulative:    Yes
Liquidation value:   $25.00
Callable after:   05/20/2025
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K
CUSIP:    
ISIN:        
Sedol:      

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