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Landmark Infrastructure Partners, 7.90% Series B Cumul Red Perp Preferred Units
Ticker Symbol: LMRKO* CUSIP: 51508J306 Exchange: NGM
* NOTE: This security is no longer trading as of 12/22/2021
QUANTUMONLINE.COM SECURITY DESCRIPTION: Landmark Infrastructure Partners LP, 7.90% Series B, Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25 per unit, redeemable at the issuer's option on or after 8/8/2021 at $25 per unit plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.90% per annum ($1.975 per annum or $0.49375 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be the first business day of the month of the payment date (NOTE: the ex-dividend date is at least one business day prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred units at $25 per unit 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 units, the holder will have the right to convert the preferred units into common units under certain circumstances (see the prospectus for details). Holders of the Preferred Units will receive specific tax information from the company, including a Schedule K-1 which generally would be expected to provide a single income item equal to the preferred return (see page S-42 of the prospectus for details). 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 units rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common units of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (LMRK*)
Notes: From a SEC filing filed Decmember 22, 2021 -- Transaction Statement relates to the Transaction Agreement, dated as of August 21, 2021 (as amended, the “Transaction Agreement”), by and among the Partnership, the Partnership GP, REIT LLC, REIT Subsidiary, Landmark Dividend, LM Infra, LM DV Infra, Merger Sub and Merger Sub II. Under the terms of the Transaction Agreement, at the effective time of the First Partnership Merger (the “First Partnership Merger Effective Time”), (a) each issued and outstanding Common Unit, other than those Common Units owned by Landmark Dividend or its Affiliates (as defined below) (such Common Units, the “Landmark Dividend Common Units”), was converted into the right to receive $16.50 per Common Unit in cash without any interest thereon (the “Partnership Unaffiliated Unitholders Consideration”); (b) each issued and outstanding Series A Preferred Unit (as defined in the Partnership Agreement) was converted into the right to receive $25.00 plus the amount of any accumulated and unpaid distributions per Series A Preferred Unit in cash without any interest thereon; (c) each issued and outstanding Series B Preferred Unit (as defined in the Partnership Agreement) was converted into the right to receive $25.00 plus the amount of any accumulated and unpaid distributions per Series B Preferred Unit in cash without any interest thereon and (d) each issued and outstanding Series C Preferred Unit (as defined in the Partnership Agreement) was converted into the right to receive the greater of (1) $25.00 plus the amount of any accumulated and unpaid distributions per Series C Preferred Unit to, but not including, the date of the First Partnership Merger Effective Time plus the amount of any distributions that would have accrued from the date of the First Partnership Merger Effective Time to, but not including, the 50th Business Day following the First Partnership Merger Effective Time and (2) the sum of (i) the product of (x) the Alternative Conversion Amount (as defined in the Partnership Agreement) multiplied by (y) Partnership Unaffiliated Unitholders Consideration plus (ii) the amount of any accumulated and unpaid distributions for all prior Series C Distribution Periods (as defined in the Partnership Agreement) ending on or prior to the 20th Business Day following the First Partnership Merger Effective Time, per Series C Preferred Unit in cash without any interest thereon.
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IPO - 8/3/2016 - 1.60 Million Units @ $25.00 /unit.
Link to IPO Prospectus
Previous Ticker Symbol: LNDMP Changed: 8/31/2016
Market Value $40.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 2141 Rosecrans Avenue, Suite 2100, P.O. Box 3429, El Segundo, CA 90245 |
Main Phone Number |
310-598-3173 |
Fax Number |
Not Available |
Investor Relations
Marcelo Choi
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213-788-4528
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CEO - Arthur P. Brazy, Jr. |
CFO - George P. Doyle |
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