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Lument Finance Trust Inc | 8.75% Series A Cumulative Redeemable Preferred Stock (HCFT.PRA)
Prospectus excerpt: Five Oaks Investment Corp. is offering to the public shares of its 8.75% Series A Cumulative Redeemable Preferred Stock, which we refer to in this prospectus as the Series A Preferred Stock. This is an original issuance of the Series A Preferred Stock. We will declare quarterly and pay monthly dividends on the shares of the Series A Preferred Stock, in arrears, on the 27th day of each month to holders of record at the close of business on the 15th day of each month. We expect the first dividend will be payable on January 27, 2014 in the amount of $0.2066 per share to the persons who are the holders of record of the Series A Preferred Stock at the close of business on January 15, 2014. If any dividend payment date is not a business day, then the dividend which would have been payable on that dividend payment date will be paid on the next succeeding business day. Dividends will accrue (1) from and including, the date of original issuance to, but not including, December 27, 2018, at an initial annual rate of 8.75% per annum, based on the $25.00 per share liquidation preference (equivalent to $2.1875 per annum per share during that period); and (2) from and including, December 27, 2018 and thereafter, at an annual rate equal to the sum of (a) Three-Month LIBOR (as defined herein) as calculated on each applicable date of determination and (b) 7.151%, based on the $25.00 per share liquidation preference per annum; provided that such rate shall not be less than the initial rate in clause (1) at any determination date. Full Prospectus PDF », Secondary Prospectus PDF », LFT Page »
Series: | A | Alternate symbology: | HCFT-A, HCFT-PA, HCFTprA | Redeemable?: | Yes | Call Date: | 12/23/2018 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 800,000 | Overallotment: | 120,000 | Liquidation Preference: | $25.00 | Original Coupon: | 8.75% | Pay Period: | Monthly | CDx3 Compliance Rating: |
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Lument Finance Trust is a real estate investment trust. Co. is focused on investing in, originating, financing and managing a portfolio of commercial real estate (CRE) debt investments. Co. primarily invests or originates in transitional floating rate CRE mortgage loans with an emphasis on middle-market multifamily assets. Co. may also invest in other CRE-related investments including mezzanine loans, preferred equity, commercial mortgage-backed securities, fixed rate loans, construction loans and other CRE debt instruments. Co. is externally managed by its manager, Lument Investment Management. Preferreds: HCFT.PRA, LFT.PRA Open the LFT Information Page »
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