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City Office REIT, 6.625% Series A Cumulative Redeemable Preferred Stock
Ticker Symbol: CIO-A CUSIP: 178587200 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: City Office REIT, Inc., 6.625% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/4/2021 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.625% per annum ($1.65625 per annum or $0.4140625 per quarter) will be paid quarterly on 1/25, 4/25, 7/25 & 10/25 to holders of record on the record date fixed by the board, not more than 90 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges 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. Except to the extent that the issuer has elected to exercise its optional redemption right or its special optional redemption right by providing a notice of redemption prior to the Change of Control Conversion Date, upon the occurrence of a Change of Control, each holder of Series A Preferred Stock will have the right to convert some or all of the Series A Preferred Stock held by such holder on the Change of Control Conversion Date into a number of shares of our common stock. Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. 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.
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Go to Parent Company's Record (CIO)
IPO - 9/26/2016 - 4.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: CYORP Changed: 10/05/2016
Market Value $100.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's SEC EDGAR Filings
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Go to SEC Filings |
| Company's Canadian SEDAR Filings |
None Found |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 666 Burrard Street, Suite 3210, Vancouver, British Columbia, V6C 2X8 Canada |
| Main Phone Number |
604-806-3366 |
| Fax Number |
Not Available |
| Investor Contact (CFO)
Anthony Maretic
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604-806-3366
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| CEO - James Farrar |
CFO - Anthony Maretic |
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