The Series C Preferred Stock will not be redeemable before May 16, 2017, except under circumstances intended to preserve our qualification as a real estate investment trust for federal income tax purposes, or REIT, and except as described below upon the occurrence of a Change of Control (as defined herein). On or after May 16, 2017, we may, at our option, redeem any or all of the shares of the Series C Preferred Stock at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. In addition, upon the occurrence of a Change of Control, we may, at our option, redeem any or all of the shares of Series C 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 C 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 C Preferred Stock.
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Annaly Capital Management is an internally-managed real estate investment trust. Co. is capital manager with investment strategies across mortgage finance and corporate middle market lending. Co. owns a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations, credit risk transfer securities, other securities representing interests in or obligations backed by pools of mortgage loans, residential mortgage loans, mortgage servicing rights and corporate debt. Co.'s three investment groups are primarily comprised of the following: Annaly Agency Group; Annaly Residential Credit Group; and Annaly Middle Market Lending Group. Preferreds: NLY.PRA, NLY.PRC, NLY.PRE, NLY.PRD, NLY.PRF, NLY.PRG, NLY.PRI Open the NLY Information Page » |
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