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Prospect News home > News index > List of issuers F > Headlines for FG Financial Group, Inc. > News item |
FG Financial markets 8% cumulative series A preferred stock add-on
Chicago, May 14 – FG Financial Group, Inc. announced an offering for 8% cumulative perpetual preferred stock, series A, with a $25-par price in a preliminary prospectus 424B5 filing with the Securities and Exchange Commission.
An over-allotment option will be granted to the underwriter.
Dividends will be cumulative and payable quarterly with the first payment on June 1.
The stock cannot be redeemed until Feb. 28, 2023, or upon the occurrence of a change of control. After Feb. 28, 2023, the shares can be redeemed at par, plus the dividend, to the date of redemption.
The issue will be listed on Nasdaq as “FGFPP.”
Prior to this offering there were 700,000 shares outstanding.
ThinkEquity is working as the underwriter.
Proceeds from the sale will be used for working capital and other general corporate purposes, which may include capital expenditures, operations purposes and potential acquisitions.
FG Financial Group was previously called 1347 Property Insurance Holdings, Inc. The issuer is a reinsurance and investment management holding company with headquarters in St. Petersburg, Fla.
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