PreferredStockChannel
Ladenburg Thalmann Financial Services Inc | 8.00% Series A Cumulative Redeemable Preferred Stock (LTS.PRA)

Prospectus excerpt:  Ladenburg Thalmann Financial Services Inc. is offering to the public 4,600,000 shares of our 8.00% Series A Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the “Series A Preferred Stock.” This is an original issuance of the Series A Preferred Stock. We will pay monthly cumulative dividends on the Series A Preferred Stock on the 28th day of each month (provided that if any dividend payment date is not a business day, then the dividend that would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day without adjustment in the amount of the dividend) from, and including, the date of original issuance at 8.00% of the $25.00 per share liquidation preference per annum (equivalent to $2.00 per annum per share). The first dividend payable on June 28, 2013 in the amount of $0.1944 per share will be paid to the persons who are the holders of record of the Series A Preferred Stock at the close of business on June 15, 2013.

The Series A Preferred Stock will not be redeemable before May 24, 2018, except as described below upon the occurrence of a Change of Control (as defined herein). On or after May 24, 2018 we may, at our option, redeem any or all of the shares of the Series A Preferred Stock at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. Also, upon the occurrence of a Change of Control, we may, at our option, redeem any or all of the shares of Series A Preferred Stock within 120 days after the first date on which such Change of Control occurred at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. The Series A Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by us or converted into our common stock in connection with a Change of Control by the holders of Series A Preferred Stock.

Full Prospectus PDF », LTS Page »

Series:A
Alternate symbology:LTS-A, LTS-PA, LTSprA
Redeemable?:Yes
Call Date:5/24/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:4,600,000
Overallotment:690,000
Liquidation Preference:$25
Recent Market Price:$25.27
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.27 (1.08%)
Annualized Dividend:2.0004
Recent Ex-Date:11/14/2019
Current Yield:7.97%
Original Coupon:8.00%
Pay Period:Monthly
Ladenburg Thalmann Financial Services is a financial services company. Co. has three operating segments: the independent advisory and brokerage services, which includes the investment advisory and brokerage services provided by Co.'s independent advisory and brokerage subsidiaries to their independent contractor financial advisors and the wealth management services; the Ladenburg, which includes the investment banking, sales and trading and asset management services and investment activities; and the insurance brokerage, which includes the wholesale insurance brokerage activities provided by Co.'s subsidiaries, Highland Capital Brokerage, which delivers fixed and equity indexed annuities.

Preferred: LTS.PRA


Open the LTS Information Page »
Name: 
Ladenburg Thalmann Financial Services Inc
Website: 
www.ladenburg.com
Sector: 
Investment Brokerages
Number of ETFs Holding LTS: 
21 (see which ones)
Total Market Value Held by ETFs: 
$25,162,797
Total Market Capitalization: 
$414,000,000
% of Market Cap. Held by ETFs: 
6.08%

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