By Angela McDaniels
Tacoma, Wash., June 11 - Pulaski Financial Corp. registered $32.54 million of series A fixed-rate cumulative perpetual preferred stock for public trading in an S-1 registration with the Securities and Exchange Commission.
The company sold the preferreds to the U.S. Department of the Treasury on Jan. 16, 2009 under the Troubled Asset Relief Program's Capital Purchase Program.
The 32,538 preferreds have a liquidation preference of $1,000 each.
The dividend rate is 5% per year up to but excluding Feb. 15, 2014, at which time the dividend rate will increase to 9%. When declared by the board, dividends are payable quarterly.
The preferreds are callable at par at any time, subject to federal approval.
Also covered under the registration is a warrant to purchase 778,421 shares of common stock for $6.27 per share. The warrant expires on Jan. 16, 2019.
The company's stock closed at $7.20 (Nasdaq: PULB) on Monday.
Pulaski Financial is a savings and loan holding company based in St. Louis.
| Issuer: | Pulaski Financial Corp.
|
| Issue: | Series A fixed-rate cumulative perpetual preferred stock
|
| Amount: | $32,538,000
|
| Maturity: | Perpetual
|
| Dividends: | 5% until Feb. 15, 2014, then 9%; payable quarterly
|
| Liquidation amount: | $1,000
|
| Call option: | At par subject to federal approval
|
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