DigitalBridge to redeem $64 million 7.125% series H preferreds Nov. 15

By Mary-Katherine Stinson

Lexington, Ky., Oct. 18 – DigitalBridge Group, Inc., formerly Colony Capital Inc., has announced it will redeem $64 million of its 7.125% series H cumulative redeemable perpetual preferred stock Nov. 15, according to a company news release.

The partial redemption represents 22.3%, or 2.56 million shares out of 11.5 million, issued and outstanding shares.

The redemption will be at par of $25 per share plus accrued and unpaid interest to the redemption date of Nov. 15.

The company’s chief financial officer Jacky Wu said that the company has reduced its outstanding preferred stock by over $140 million since July.

On the redemption date dividends will cease to accrue and the shares will no longer be outstanding. Shareholder’s rights will also be terminated on that date, except for the right to receive the cash redemption without interest.

The shares are held in book-entry form through Depository Trust Co. and will be redeemed according to their procedures.

American Stock Transfer & Trust Co., LLC is the redemption agent.

DigitalBridge is a real estate investment trust based in Los Angeles.

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