Series K Preferred Stock Investing 101

Series K preferred stock is a type of equity security that has a specific set of characteristics. It's issued by companies to raise capital, but with a twist - it's senior to common stock in terms of claims on assets and dividends.

One key benefit of Series K preferred stock is that it typically has a fixed dividend rate, which can provide a predictable income stream for investors. This can be a big plus for those seeking regular returns.

In the US, Series K preferred stock is governed by the Securities Act of 1933 and the Securities Exchange Act of 1934, which regulate the issuance and trading of securities. This adds an extra layer of protection for investors.

Companies often use Series K preferred stock to raise capital for specific projects or initiatives, such as expanding operations or paying off debt.

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The material on this website has been prepared by Ashford Securities LLC to provide information about the offering of shares of the Ashford Hospitality Trust, Inc’s Series K Redeemable Preferred Stock.

You can find the Prospectus and Supplements on this website, which contain detailed information about the Offering.

The Series K Preferred Stock Redemption Fee Schedule is also available, outlining the fees associated with redeeming your shares.

To redeem your shares, you'll need to fill out the Series K Preferred Stock Redemption Form.

You can also use the Series K Stock Purchase Form (DTC) to purchase shares.

The AHT Trustee Certification of Investment Powers Form is another important document that investors should be aware of.

Investors can also participate in the AHT Dividend Reinvestment Form to reinvest their dividends.

The IRS Circular 230 Disclosure warns investors that any U.S. tax advice contained on this website cannot be used to avoid penalties under the Internal Revenue Code.

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Series K preferred stock is typically issued by companies that are looking to raise capital for a specific project or business expansion. It's a type of equity financing that allows investors to purchase a share of the company's assets.

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The par value of Series K preferred stock is typically $1,000 per share, but it can vary depending on the company issuing it. This means that investors can expect to pay at least $1,000 per share to purchase Series K preferred stock.

Investors in Series K preferred stock have a priority claim on the company's assets in the event of liquidation, making it a relatively safe investment option.

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Ashford Hospitality Trust is a real estate investment trust (REIT) that focuses on investing in upscale, full-service hotels.

The company was founded in 1997 and is headquartered in Dallas, Texas.

Ashford Hospitality Trust has a portfolio of 120 hotels with over 20,000 rooms across the United States.

Their hotels are primarily located in urban and resort destinations, including major cities and popular tourist areas.

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Citigroup has announced the full redemption of its Series K Preferred Stock, which totals $1.495 billion in aggregate liquidation preference.

The redemption date for the Preferred Stock is November 15, 2023, and the cash redemption price will be $25 per Depositary Share.

Citigroup's Board of Directors will set a record date prior to the Redemption Date for holders of record to receive any quarterly dividend declared but not paid.

The redemption is part of Citigroup's liability management strategy to enhance the efficiency of its funding and capital structure.

Beginning on the Redemption Date, the Depositary Shares representing the redeemed Preferred Stock will no longer be outstanding and dividends will no longer accrue on such securities.

Computershare Trust Company, N.A. is the paying agent for the Depositary Shares, and questions can be directed to them via telephone at 1-888-250-3985.

Related reading: Redemption Preferred Stock

The Series K Preferred Stock has a liquidation preference of $1,000 per share.

One example of Preferred Stock is the Fixed-to-Floating Rate non Cumulative Perpetual Class A Preferred Stock, Series K, with no par value.

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The Series K Preferred Stock can be converted into Common Stock at $37.38 per share.

The designation of the series of preferred stock is "Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K".

The Series K Preferred Stock has a liquidation preference of $1,000 per share, and the shares were redeemed on February 15, 1997, reducing stockholders' equity by $365 million.

Here are some key characteristics of the Series K Preferred Stock:

The Series K Preferred Stock has 693,883 shares authorized, 460,000 shares issued and outstanding, and is held by the KPCB Affiliates.

Preferred stock is a type of security that represents ownership in a corporation, similar to common stock, but with additional rights.

In the US, venture-backed companies typically issue preferred stock that carries a liquidation preference, allowing it to get paid ahead of common stock in a liquidation or sale of the company.

US venture capital investors generally favor preferred stock for their investments, and it's the security companies almost always sell to investors in a series financing.

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The specific rights of preferred stock are a matter of negotiation, so the terms can vary.

Preferred stock is often described as either "non-participating" or "participating", which affects what holders receive in a liquidation or sale of the company.

In a liquidation or sale, holders of "non-participating" preferred stock have to choose between receiving their liquidation preference or getting paid alongside the common stock, but not both.

In contrast, holders of "participating" preferred stock first receive their liquidation preference, and then also receive payment alongside the common stock based on their ownership percentage.

"Non-participating" preferred stock is used much more frequently than "participating" preferred stock in US venture deals.

Additional reading: Preferred Stock Holders