Armada Hoffler Properties Inc | 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock (AHH.PRA)
Prospectus excerpt: We are offering 2,200,000 shares of our 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value per share, which we refer to in this prospectus supplement as our Series A Preferred Stock. This is the original issuance of our Series A Preferred Stock, which has a liquidation preference of?$25.00 per share. Holders of Series A Preferred Stock will be entitled to receive dividend payments only when, as and if authorized by our Board of Directors and declared by us. We will pay cumulative dividends on the Series A Preferred Stock from the date of original issue at a rate of 6.75% per annum of the $25.00 liquidation preference per share (equivalent to an annual rate of $1.6875 per share). Dividends will be paid quarterly in arrears on the 15th day of January, April, July and October of each year (or if not a business day, on the immediately preceding business day) to the holders of record as of the close of business on the first day of January, April, July and October of each year (or if not a business day, on the next succeeding business day).
Armada Hoffler Properties is a holding company and conducts substantially all of its operations through Armada Hoffler, L.P. Co. is a real estate company engaged in developing, building, owning, and managing institutional-grade office, retail, and multifamily properties primarily throughout the Mid-Atlantic and Southeastern U.S. In addition to the ownership of its operating property portfolio, Co. develops and builds properties for its own account and through joint ventures between Co. and unaffiliated partners and also invest in development projects through mezzanine lending arrangements. Co. also provides general contracting services to third parties.