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Danaher Corp. 5.00% Mandatory Convertible Preferred Stock, Series B Due 4/15/23
Ticker Symbol: DHR-B*     CUSIP: 235851102     Exchange: NYSE
Security Type:   Mandatory Convertible Security
* NOTE: This security is no longer trading as of 4/15/2023

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Danaher Corp., 5.00% Mandatory Convertible Preferred Stock, Series B, liquidation preference $1,000 per share. The preferred shares are mandatorily convertible on 4/15/2023 into a variable number of Danaher Corp (NYSE: DHR) 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 5.0081 shares per unit if the then current market price is equal to or greater than $199.68 and 6.1349 shares per unit if the market price is less than $163.00, 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 05/07/2020 was $163.48 per share. The preferred shares are convertible any time at the holder’s option into 5.0081 shares of common stock. Distributions of 5.00% per annum ($50.00 per annum or $12.50 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 12/31, 3/31, 6/30 & 9/30 respectively (NOTE: the ex-dividend date is one business day prior to the record date). If a Fundamental Change occurs on or prior to 4/15/2023 holders of shares may be able to convert into common stock at the fundamental change conversion rate plus a fundamental change dividend make-whole amount (see prospectus for further information). Dividends paid by this preferred are eligible for a preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under normal holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-56 of the prospectus for further information). 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 mandatory convertible preferred stock and their mandatory conversion provisions 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
Conversion
Shares@Price
Distribution Dates 15%
Tax Rate
NYSE
Chart
5.00%
$50
$1,000.00
$1,000.00
None
4/15/2023
NR NR
1/24/2023
5.0081 @ $199.68+
6.1349 @ $163.00-
1/15, 4/15, 7/15 & 10/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (DHR)

IPO - 5/8/2020 - 1.55 Million Shares @ $1000/share.    Link to IPO Prospectus
Previous Ticker Symbol: DHNRP    Changed: 5/15/2020
Market Value $1.5 Billion

Company's Online Information Links
HOME PAGE:     https://www.danaher.com/
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 Address investor.relations@danaher.com
Email Contact Form on Website Go to Email Form

Address and Phone Numbers
Address:   2200 Pennsylvania Avenue NW, Suite 800W, Washington, DC 20037
Main Phone Number 202-828-0850
Fax Number 202-828-0860
Investor Relations   Matthew E. Gugino 202-828-0850
Toll Free Phone Number Unknown
CEO - Thomas P. Joyce, Jr. CFO - Matt McGrew

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