Brookfield Asset series 8 and series 9 shareholders can convert preferreds

Chicago, Oct. 12 – Brookfield Asset Management Inc. announced that holders of its series 9 preferred shares and its series 8 preferred shares have the option to convert all or a part of their shares on a one-to-one basis into shares of the other series until 5 p.m. ET on Oct. 18, according to a press release.

The conversion would be effective Nov. 1.

Shareholders would be entitled to receive, if declared, a monthly floating-rate dividend based on the prime rate.

Post-conversion, there need to be at least 500,000 shares per series left, or Brookfield will fold the remaining shares into the other series.

There are currently 5,515,981 series 9 preferred shares outstanding. There are 2,476,185 series 8 preferreds shares outstanding.

Conversions will again be possible Nov. 1, 2026 and every five years thereafter.

Brookfield Asset Management is a Toronto-based alternative asset manager.

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