Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for InPoint Commercial Real Estate Income, Inc. > News item |
InPoint plans up to $86.25 million cumulative redeemable preferreds
By Marisa Wong
Los Angeles, Sept. 14 – InPoint Commercial Real Estate Income, Inc. plans to price up to $86.25 million of $25-par series A cumulative redeemable preferred stock, according to an amended Form S-11 filed with the Securities and Exchange Commission.
Raymond James & Associates, Inc. is the underwriter.
The offering will include a 30-day greenshoe.
Dividends are payable quarterly.
The preferreds are callable in whole or in part at par beginning in 2026 or within 120 days of a change of control.
If a change of control occurs, holders will also have the right to convert the preferreds into shares of class I common stock.
The company intends to apply to list the series A preferreds on the New York Stock Exchange under the symbol “ICRPrA.”
Proceeds will be contributed to the company’s operating partnership, which will use the funds to acquire assets and for general corporate purposes.
The commercial mortgage real estate investment trust is based in Oak Brook, Ill.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.