Terms and a Very Rough Model
Hey Dr. Bracker! Great post. One question I had was, why do they separate out preferred B&C shares from preferred A&D shares? Are B&C same preferred rate and A&D are same rate?
Appreciate the feedback!
They no longer (as of Feb 12, 2021) have Preferred A shares as they were retired on that date. However, they issue preferred to raise capital and have issued 4 sets of preferred (A is retired) and B, C, and D are still active. You can see the breakdown here -- https://www.gladstonefarms.com/investors/stock-data/preferred-stock. Here is the prospectus for Series D -- https://www.sec.gov/Archives/edgar/data/1495240/000119312521009040/d880418dex31.htm.
We're going to discuss these a bit in the next update.
Ok, I look forward to that! Thanks for the response. Good luck next week!
Hey Dr. Bracker! Great post. One question I had was, why do they separate out preferred B&C shares from preferred A&D shares? Are B&C same preferred rate and A&D are same rate?
Appreciate the feedback!
They no longer (as of Feb 12, 2021) have Preferred A shares as they were retired on that date. However, they issue preferred to raise capital and have issued 4 sets of preferred (A is retired) and B, C, and D are still active. You can see the breakdown here -- https://www.gladstonefarms.com/investors/stock-data/preferred-stock. Here is the prospectus for Series D -- https://www.sec.gov/Archives/edgar/data/1495240/000119312521009040/d880418dex31.htm.
We're going to discuss these a bit in the next update.
Ok, I look forward to that! Thanks for the response. Good luck next week!