CAI International Inc | 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (CAI.PRB)
Prospectus excerpt: We are offering 1,700,000 shares of our 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25.00 per share (the ÙSeries B Preferred Stockˆ). Dividends on the Series B Preferred Stock accrue daily and will be cumulative from, and including, the date of original issue and shall be payable quarterly on the 15th day of each January, April, July and October. The first dividend on the Series B Preferred Stock is scheduled to be paid on October 15, 2018 in the amount of $0.36597 per share of Series B Preferred Stock to the persons who are the holders of record of the Series B Preferred Stock at the close of business on October 1, 2018. The Fixed Dividend Rate (as defined herein) shall accrue from, and including, the date of original issuance to, but not including, August 15, 2023. On and after August 15, 2023, dividends on the Series B Preferred Stock shall accrue at an annual rate equal to the sum of (a) Three-Month LIBOR (as defined herein) as calculated on each applicable Date of Determination (as defined herein) and (b) 5.687% of the $25.00 liquidation preference per share of Series B Preferred Stock.
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