Lument Finance Trust Inc | 7.875% Series A Cumulative Redeemable Preferred Stock (LFT.PRA)
Prospectus excerpt: We are offering 2,400,000 shares of our 7.875% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share (the “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 dividends only when, as and if authorized by our Board of Directors and declared by us. We will pay cumulative cash dividends on the Series A Preferred Stock, from the date of original issue, at a rate of 7.875% per annum of the $25.00 liquidation preference per share (equivalent to the fixed annual rate of $1.96875 per share). Dividends on the Series A Preferred Stock will be payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year (or if not a business day, on the next succeeding business day). The first dividend on the Series A Preferred Stock will be paid on July 15, 2021 and will be a pro rata dividend from, and including, the original issue date to and including July 15, 2021 in the amount of $0.3828125. The Series A Preferred Stock will rank senior to our common stock, $0.01 par value per share, with respect to dividend rights and rights upon our liquidation, dissolution or winding up.
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