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MIND Technology, Inc., 9.00% Series A Cumulative Preferred Stock
Ticker Symbol: MINDP     CUSIP: 606501302     Exchange: NGS
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  MIND Technology, Inc. fomerly, Mitcham Industries, 9.00% Series A Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 6/8/2021 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 9.00% ($2.25) per annum or $0.5625 per quarter) are paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date that will be 1/15, 4/15, 7/15 & 10/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges and the company has provided notice that they intend to redeem the preferred shares as a result of the change of control, the holder will have the right to convert the preferred shares into common shares (see the prospectus for details). 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 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 15 of the prospectus for further information). This security was not rated by Moody’s and by S&P at the date 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
NGS
Chart
9.00%
$2.25
$25.00
$25.00
6/08/2021
None
NF NF
4/07/2020
1/31, 4/30, 7/31 & 10/31
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (MIND)

IPO - 6/2/2016 - 320,000 Shares @ $25.00 /share.    Link to IPO Prospectus
Previous Name: Mitcham Industries    Changed: 8/07/2020
Market Value $7.8 Million
Click for current MINDP price quote from the NASDAQ

Company's Online Information Links
HOME PAGE:     http://www.mitchamindustries.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
Inv Rel Email Address jlascar@dennardlascar.com
General Email Address rob.capps@mitchamindustries.com
Email Contact Form on Website Go to Email Form

Address and Phone Numbers
Address:   8141 Highway 75 South, P.O. Box 1175, Huntsville, TX 77340
Main Phone Number 936-291-2277
Fax Number 936-295-1922
Investor Relations   Jack Lascar, Lascar Associates 713-529-6600
Toll Free Phone Number Unknown
CEO - Billy S. Mitcham, Jr. CFO - Robert P. Capps

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Latest Update: 9/24/2020