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CAI International, 8.50% Series A Fixed/Floating Cumul Red Perp Preferred Stock
Ticker Symbol: CAI-A*     CUSIP: 12477X205     Exchange: NYSE
Security Type:   Traditional Preferred Stock
* NOTE: This security is no longer trading as of 11/22/2021

QUANTUMONLINE.COM SECURITY DESCRIPTION:  CAI International, Inc., 8.50% Series A Fixed/Floating Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/15/2023 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.50% per annum ($2.125 per annum or $0.53125 per quarter) will be paid quarterly on 1/15, 4/15, 7/15, & 10/15 to holders of record on the record date that will be 1/1, 4/1, 7/1 & 10/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). On and after 4/15/2023, (the Floating Rate Period), dividends of the Preferred Stock shall accrue at an annual rate equal to the sum of Three-Month LIBOR and 5.82% of the $25.00 liquidation preference per share. Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-33 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
FixFloat
$2.13
$25.00
$25.00
4/15/2023
None
NF NR
9/11/2020
1/15, 4/15, 7/15, & 10/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (CAI*)

Notes:  Novemeber 22, 2021 -- In accordance with the terms of the Merger Agreement, on November 22, 2021, Merger Sub merged with and into the Company (the “Merger”), with the Company continuing as the surviving corporation in the Merger as a wholly-owned subsidiary of Parent. At the effective time of the Merger (the “Effective Time”):

each share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), that was issued and outstanding immediately prior to the Effective Time (other than Excluded Shares (as defined in the Merger Agreement)) ceased to be outstanding and was converted into the right to receive $56.00, in cash, without interest, subject to deductions of any applicable withholding taxes (the “Common Merger Consideration”);

each share of the Company’s 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), that was issued and outstanding immediately prior to the Effective Time, other than Excluded Shares, was converted into the right to receive an amount equal to the sum of: (i) the liquidation preference of $25.00 per share; plus (ii) the aggregate amount of all accrued and unpaid dividends on such Series A Preferred Stock as of the Effective Time, in cash, without interest, subject to deductions of any applicable withholding taxes (the “Series A Merger Consideration”);

and each share of the Company’s 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share (the “Series B Preferred Stock”), that was issued and outstanding immediately prior to the Effective Time, other than Excluded Shares, was converted into the right to receive an amount equal to the sum of: (i) the liquidation preference of $25.00 per share; plus (ii) the aggregate amount of all accrued and unpaid dividends on such Series B Preferred Stock as of the Effective Time, in cash, without interest, subject to deductions of any applicable withholding taxes (the “Series B Merger Consideration”).

IPO - 3/22/2018 - 1.60 Million Shares @ $25.00 /share.    Link to IPO Prospectus
Previous Ticker Symbol: CNNLP    Changed: 4/06/2018
Market Value $40.0 Million

Company's Online Information Links
HOME PAGE:     https://www.capps.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Inv Rel Email Address tpage@capps.com
General Email Address caiinfo@capps.com
Email Contact Form on Website Go to Email Form

Address and Phone Numbers
Address:   Steuart Tower, 1 Market Plaza, Suite 900, San Francisco, CA 94105
Main Phone Number 415-788-0100
Fax Number 415-788-3430
Investor Contact (CFO)   Timothy B. Page 415-788-0100
Toll Free Phone Number 888-339-2851
CEO - Timothy Page CFO - Timothy B. Page

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