Quick Search
Top Banner

Session.supporter not defined

Register
quantumonline home Income Tables Income Lists Stock Lists Special Lists Investment Services Investment Information quantumonline home

Hunt Companies Finance Trust, 8.75% Series A Cumulative Redeem Preferred Stock
Ticker Symbol: HCFT-A*     CUSIP: 33830W205     Exchange: NYSE
Security Type:   Traditional Preferred Stock
* NOTE: This security is no longer trading as of 2/14/2019

Security has been Called for:  Thursday, February 14, 2019

Jan. 15, 2019 -- Hunt Companies Finance Trust, Inc. today announced that it will redeem all outstanding shares of its 8.75% Series A Cumulative Redeemable Preferred Stock (NYSE: HCFT PR A) (CUSIP: 44558T209) and that it has entered into a $40.25 million delayed draw credit facility which will mature on February 14, 2025. The new $40.25 million delayed draw credit facility bears interest at an initial fixed rate of 7.25%, which is subject to step up after year 5. The redemption will occur on February 14, 2019 and holders of shares of our Series A Preferred Stock will receive a redemption price equal to $25 per share, plus accumulated and unpaid dividends thereon to, but not including, the redemption date. HCFT will use the proceeds of the loans under the credit facility to fund the redemption of its Series A Preferred Stock. The redemption is being made pursuant to Section 6(b) of Article First of that certain Articles Supplementary of the Series A Preferred Stock. From and after the Redemption Date, dividends on the Series A Preferred Stock will cease to accrue, the Series A Preferred Stock will no longer be outstanding and, therefore, all rights of the holders of such shares shall terminate except for the right of the holders to receive the cash payable upon the redemption. Upon redemption, the Series A Preferred Stock will be delisted from trading on the New York Stock Exchange. All shares of the Series A Preferred Stock are held in book-entry form through the Depository Trust Company ("DTC"). Payment to DTC for the redeemed shares of Series A Preferred Stock plus accumulated and unpaid dividends thereon will be made by American Stock Transfer & Trust Company, LLC, as redemption agent.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Hunt Companies Finance Trust, Inc., formerly Five Oaks Investment Corp., 8.75% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 12/23/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.75% per annum ($2.1875 per annum or $0.1822917 per month) will be paid through 12/27/2018 on the 27th day of each month to holders of record on the record date that will be the 15th day of each month (NOTE: the ex-dividend date is one business day prior to the record date). On or after 12/27/2018 distributions will be paid at an annual rate equal to the Three-Month LIBOR plus 7.151% provided that such rate shall not be less than the initial rate. 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). If the issuer does not pay dividends in full on any six dividend payment dates (whether consecutive or not), then the per annum dividend rate will increase by an additional 2.00% (see prospectus for details). 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.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
FixFloat
$2.1875
$25.00
$25.00
Called for
2/14/2019

None
NF NF
12/29/2017
27th day of each month
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (LFT)

IPO - 12/17/2013 - 800,000 Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: OAKS-A    Changed: 5/29/2018
Previous Name: Five Oaks Investment Corp    Changed: 5/25/2018
Market Value $20.0 Million

Company's Online Information Links
HOME PAGE:     http://investor.huntcompaniesfinancetrust.com/phoenix.zhtml?c=251672&p=index
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
Email Request Form on Website Go to Email Form

Address and Phone Numbers
Address:   230 Park Avenue, 19th Floor, New York, NY 10169
Main Phone Number 212-588-2049
Fax Number Not Available
Investor Contact (CFO)   David Oston 212-588-2049
CEO - James P. Flynn CFO - David Oston

Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.


investment Links contact quantumonline guestbook
quantumonline supporters about quantumonline using quantumonline


QuantumOnline.com
Copyright © 1997 - 2024 QuantumOnline.com. All rights reserved.
Web page design latest update: 4/2/2024
Web page financial information is most recent information available and more recent than last web page design date.