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Molycorp, Inc., 5.50% Series A Mandatory Convertible Preferred Stock
Ticker Symbol: MCP-A* CUSIP: 608753208 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/01/2014
Security has been Called for: Saturday, March 1, 2014
QUANTUMONLINE.COM SECURITY DESCRIPTION: Molycorp, Inc., 5.50% Series A Mandatory Convertible Preferred Stock, liquidation preference $100 per share. The preferred shares are mandatorily convertible on 3/1/2014 into a variable number of Molycorp Inc. (NYSE: MCP) 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 1.6667 shares per unit if the then current market price is equal to or greater than $60.00 and 2.00 shares per unit if the market price is equal to or less than $50.00. For market prices between those values the settlement rate will be $100 divided by the market value. The sale price of the common stock for the simultaneous common stock offering was $50.00 per share. The preferred shares are convertible any time at the holder’s option into 1.6667 shares of common stock. Distributions of 5.50% ($5.50) per annum will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the record date of 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 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 167 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank 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%
$5.5
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$100.00
n.a.
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Called for
3/01/2014
3/01/2014
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NR NF
12/04/2013
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1.6667@$60.00+
2.00@$50.00-
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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 (MCPIQ)
IPO - 2/11/2011 - 1.80 Million Shares @ $100.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MCPPP Changed: 2/16/2011
Market Value $180.0 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: 5619 Denver Tech Center Parkway, Suite 1000, Greenwood Village, CO 80111 |
Main Phone Number |
303-843-8040 |
Fax Number |
303-843-8082 |
Investor Contact
Jim Sims
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303-843-8067
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Toll Free Phone Number |
Unknown |
CEO - Mark A. Smith |
CFO - James S. Allen |
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