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Allergan plc, 5.50% Mandatory Convertible Preferred Shares Series A due 3/1/2018
Ticker Symbol: AGN-A* CUSIP: G0177J116 Previous CUSIP: G0083B116 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/01/2018
QUANTUMONLINE.COM SECURITY DESCRIPTION: Allergan plc, formerly Actavis plc, 5.50% Mandatory Convertible Preferred Shares, Series A, liquidation preference $1,000 per share. The preferred shares are mandatorily convertible on 3/1/2018 into a variable number of Allergan plc, (NYSE: AGN) common shares based on the then current price of the common shares for 20 consecutive trading days immediately prior to the conversion date. The conversion settlement rate will be 2.8345 shares per unit if the then current market price is equal to or greater than $352.80 and 3.4722 shares per unit if the market price is equal to or less than $288.00. For market prices between those values the settlement rate will be $1,000 divided by the market value. The last reported sale price of the common stock on 2/24/2015 was $289.11 per share. The preferred shares are convertible any time at the holder’s option into 2.8345 shares of common stock. Upon the occurrence of a fundamental change, the holder will have the right to convert the preferred shares into common shares at the fundamental change conversion rate and the holders will also be entitled to receive a fundamental change dividend make-whole amount and accumulated dividend amount (see the prospectus for details). Distributions of 5.50% per annum ($55.00 per annum or $13.75 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the record date that will be 2/15, 5/15, 8/15 & 11/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by these preference shares 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) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-91 of the prospectus for further information). 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 mandatory convertible preferred stock and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock Exchange |
Cpn Rate Ann Amt |
LiqPref CallPrice |
Call Date Matur Date |
Moodys/S&P Dated |
Conversion Shares@Price |
Distribution Dates |
15% Tax Rate |
NYSE
Chart
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5.50%
$55
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$1,000.00
n.a.
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3/01/2018
3/01/2018
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NR NR
12/30/2017
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2.8345@$352.80+
3.4722@$288.00
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3/1, 6/1, 9/1 & 12/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (AGN)
Notes: June 15, 2015 -- Actavis plc announced that the company has adopted Allergan plc (NYSE: AGN) as its new global name and will begin trading today under a new symbol AGN after ringing The Opening Bell at the New York Stock Exchange. The company name change follows the acquisition of Allergan in March 2015 and the approval of the name change by Actavis shareholders on June 5.__________________ Feb. 19, 2015 -- Actavis plc (NYSE: ACT) today announced that it is commencing concurrent offerings totaling $8.4 billion, comprising $4.2 billion of Ordinary Shares and $4.2 billion of Mandatory Convertible Preferred Shares, Series A, each in a separate registered public offering, subject to market and other conditions.________________ Feb. 18, 2015 -- Actavis plc (NYSE: ACT) today announced that it will adopt a new corporate name Allergan following the anticipated successful completion of the acquisition of Allergan, Inc. The Company said that it intends to use the Allergan name as its corporate name and for its global branded pharmaceutical portfolio, and will retain the Actavis name for select geographic regions and product portfolios. The change in corporate name would be subject to approval by Actavis' shareholders at its Annual General Meeting later this year.
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IPO - 2/25/2015 - 4.60 Million Shares @ $1,000/share.
Link to IPO Prospectus
Previous Ticker Symbol: ACT-A Changed: 3/05/2015
Previous Name: Actavis plc, 5.50% Mandatory Convertible Preferred Shares Series A Changed: 6/15/2015
Market Value $5.4 Billion
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Foreign Address and Phone Numbers |
Address: Euro House, Euro Business Park, Little Island Business Park, Cork, Ireland |
Main Phone Number |
+353 214619040 |
Address and Phone Numbers |
U.S. Representative |
N.A. |
Address: Morris Corporate Center III, 400 Interpace Parkway, Parsippany, NJ 07054 |
Main Phone Number |
862-261-7000 |
Fax Number |
Not Available |
Investor Relations
Lisa DeFrancesco
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862-261-7152
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Toll Free Phone Number |
800-900-1644 |
CEO - Brent L. Saunders |
CFO - Maria Teresa (Tessa) Hilado |
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