Preferred Stock Calendar

On The Horizon

ACRES COMMERCIAL REALTY CORP.:

• Up to 2.2 million more series D cumulative redeemable perpetual preferred stock at 7.875% (at the market)

• JonesTrading Institutional Services LLC (placement agent)

• Real estate finance company is based in Westbury, N.Y.

NUGENEREX IMMUNO-ONCOLOGY INC.:

• $25-par series A cumulative redeemable perpetual preferred stock at 13% (best efforts)

• Dawson James Securities, Inc. (bookrunner)

• Redeemable after three years at par; prior to that, within 120 days after a change of control at par

• Miramar, Fla.-based oncology company focused on the modulation of the immune system to treat cancer

GENEREX BIOTECHNOLOGY CORP.:

• $33 million of 13% series A cumulative redeemable perpetual preferred stock at $33.00 per share (best efforts)

• Dawson James Securities, Inc. (bookrunner)

• Redeemable on or after Sept. 15, 2023 at par; prior to that, within 120 days after a change of control at par

• Miramar, Fla.-based integrated health care holding company

QURATE RETAIL, INC.:

• Series A cumulative redeemable preferred stock at 8%

• Part of special cash dividend in the amount of $1.50 per common share and 0.03 of a share of new preferred stock

• Redeemable after 10 years at par; prior to that, after a tax event, tier 2 capital event or if the company is required to register as an investment company at par

• Tupelo, Miss.-based bank holding company

GLADSTONE INVESTMENT CORP.:

• Downsized $200 million of 6% $25-par notes due 2040

• Gladstone Securities, LLC (dealer manager)

• Ongoing, terminates either July 1, 2025 or when all notes are sold

• Redeemable at the option of the company or the holders

• McLean, Va.-based middle market investment company

DYNEX CAPITAL, INC.:

• Up to $50 million more of its 7.625% series B cumulative redeemable preferred stock and its 6.9% series C fixed-to-floating rate cumulative redeemable preferred stock (best efforts)

• Ladenburg Thalmann & Co. Inc. and JonesTrading Institutional Services LLC (bookrunners)

• Redeemable on or after April 15, 2025 at par; prior to that, within 120 days after a change of control

• Glen Allen, Va.-based real estate investment trust specializing in mortgage-backed securities

PROSPECT CAPITAL CORP.:

• $1 billion continuous $25-par preferred stock

• Preferred Capital Securities, LLC (dealer manager)

• Dividends payable monthly

• New York-based middle market investment company

GLADSTONE COMMERCIAL CORP.:

• Up to $500 million of series F cumulative redeemable preferred stock (continuous)

• Gladstone Securities (dealer-manager)

• Redeemable at $22.50 throughout the offering

• McLean, Va.-based real estate investment trust

GREAT WESTERN BANCORP, INC.:

• $50 million $1,000-par fixed-to-floating rate subordinated notes

• Piper Sandler & Co. (bookrunner)

• Redeemable after five years at par; prior to that, after a change in law that prevents the company from deducting interest, a tier 2 capital event or if the company is required to register as an investment company at par

• Springfield. Mo.-based bank holding company

MODULAR MEDICAL, INC.:

• Up to $50 million $25-par cumulative redeemable perpetual preferred stock at 13%

• Common stock purchase warrants of $6 million shares at $11.00 per share

• Redeemable after three years

• Escondido, Calif.-based medication delivery technology company

MITESCO, INC.:

• Up to $15 million 10% cumulative series A preferred stock (best efforts)

• 4,800 shares outstanding as of Sept. 30, 2021

• CIM Securities (lead placement agent)

• Redeemable after three years

• Denver-based holding company specializing in health care

XOMA CORP.:

• 2 million $25-par depositary shares, or $50 million, each representing a 1/1,000th interest in a share of 8.375% series B cumulative perpetual preferred stock (at the market)

• B. Riley Securities, Inc. (agent)

• Redeemable in whole or in part at $26.00 per depositary share on or after April 15, 2022, at $25.75 beginning April 15, 2023, at $25.50 on or after April 15, 2024, at $25.25 beginning April 15, 2025 and at $25.00 on or after April 15, 2026; also callable at par within 90 days after a delisting event or 120 days after a change of control

• Emeryville, Calif.-based biotech company

BLUEROCK RESIDENTIAL GROWTH REIT, INC.:

• $500 million of 6.15% $25-par series T redeemable preferred stock (continuous)

• New York-based real estate investment trust

CREATIVE MEDIA & COMMUNITY TRUST CORP.:

• Up to $784 million $25-par series A preferred stock with a dividend of 5.5%

• Redeemable after two years at $22.50, stepping up to $23.00 in year three, to $23.75 in year four, to $24.25 during year five and to $25.00 after year five

• Dallas-based real estate investment trust

EAGLE POINT CREDIT CO. INC.:

• $25-par series D perpetual preferred stock with a 30-day greenshoe

• Ladenburg Thalmann & Co. Inc. (lead bookrunner); B. Riley Securities, Inc., InspereX LLC, Wedbush Securities Inc. and William Blair & Co., LLC (joint bookrunners)

• Greenwich, Conn.-based closed-end management investment company

WHITEHORSE FINANCE, INC.:

• Notes

• Raymond James & Associates, Inc. (bookrunner)

• Redeemable with a make-whole premium of Treasuries plus 50 bps until three months before maturity, then callable at par

• Miami-based business development company that originates and invests in loans to privately held small-cap companies

BRAEMAR HOTELS & RESORTS, INC.:

• 20 million series E redeemable preferred shares or series M redeemable preferreds and another maximum of 8 million preferreds, with a liquidation preference of $25.00 per preferred, through a dividend reinvestment plan, with 2,461,365 series E preferreds already issued for net proceeds of $55.3 million and 31,004 series M preferreds issued that netted proceeds of $751,847

• Ashford Securities (dealer manager)

• Dallas-based real estate investment trust specializing in luxury hotels and resorts

GREAT ELM GROUP, INC.:

• $25-par five-year notes

• Oppenheimer & Co. Inc., B. Riley Securities, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co., Inc. (bookrunners)

• Redeemable in whole or in part at par plus accrued interest until 2024

• Waltham, Mass.-based middle market investment company

BITNILE HOLDINGS INC.:

• $10 million, or 400,000 shares, of 13% series D cumulative redeemable perpetual preferred stock

• Alexander Capital, LP (underwriter)

• Redeemable at $25.50 per share for the first three years and at par of $25 per share thereafter

• Las Vegas-based diversified holding company that acquires undervalued businesses and disruptive technologies and owns and operates a bitcoin mining data center, provides products that support industries such as defense and automotive and extends credit to select businesses through a licensed lending subsidiary

CONIFER HOLDINGS INC.:

• $25-par senior notes

• Redeemable at par

• Birmingham, Mich.-based insurance holding company

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