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Ladenburg Thalmann Financial Services, 8.00% Series A Cumul Redeem Pfd Stock
Ticker Symbol: LTSA CUSIP: 50575Q201 Exchange: OTOTC
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Ladenburg Thalmann Financial Services, Inc., 8.00% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/24/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.00% per annum ($2.00 per annum or $0.16666666 per month) will be payable monthly on the 28th day of each month to holders of record on the record date that will be the 15th day of the calendar month, in which the payment date falls (NOTE: the ex-dividend date is one business day prior to the record date). 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). Dividends paid by this preferred 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 S-30 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 preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (LTS*)
Notes: February 14, 2020 -- Ladenburg today notified the NYSE American (“NYSE”) of its intention to voluntarily delist its 8.00% Series A Cumulative Redeemable Preferred Stock, Liquidation Preference $25.00 per share, (the “Series A Preferred Stock”), its 6.50% Senior Notes due 2027 (the “6.50% 2027 Notes”), its 7.00% Senior Notes due 2028 (the “7.00% 2028 Notes”), its 7.25% Senior Notes due 2028 (the “7.25% 2028 Notes”), and its 7.75% Senior Notes due 2029 from the NYSE, as well as its intention to deregister the Notes and the Series A Preferred Stock from registration with the Securities and Exchange Commission (“SEC”) following the consummation of Ladenburg’s previously acquisition by Advisor Group Holdings, Inc. (“Advisor Group”). We have not arranged to list or register either the Series A Preferred Stock or the Notes on another national securities exchange or for the quotation of such securities in any other medium. While Advisor Group and Ladenburg intend to cooperate with broker-dealers to facilitate over-the-counter trading of the Notes and the Series A Preferred Stock (with respect to the Series A Preferred Stock, to the extent that shares of Series A Preferred Stock are not fully converted or redeemed in connection with the Ladenburg Merger and remain outstanding), there is no assurance that such a market will develop.
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IPO - 5/20/2013 - 4.60 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: LTS-A Changed: 3/10/2020
Market Value $115.0 Million
Click for current LTSA price quote from the PINK SHEETS
Click for current LTSA price quote from the NASDAQ
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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: 4400 Biscayne Boulevard, 12th Floor, Miami, FL 33137 |
| Main Phone Number |
305-572-4100 |
| Fax Number |
Not Available |
| Investor Contact
Emily Claffey, Sard Verbinnen & Co.
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212-687-8080
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| CEO - Richard Lampen |
CFO - Brett H. Kaufman |
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