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Hunt Companies Finance Trust Inc | 8.75% Series A Cumulative Redeemable Preferred Stock (OAKS.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 », OAKS Page »
Series: | A | Alternate symbology: | OAKS-A, OAKS-PA, OAKSprA | 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 | Original Coupon: | 8.75% | Pay Period: | Monthly | CDx3 Compliance Rating: |
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Five Oaks Investment is a real estate investment trust. Co. is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), multi-family mortgage backed securities (Multi-Family MBS), mortgage servicing rights and other mortgage-related investments. Co. invests in the following assets: Agency RMBS, which are residential mortgage-backed securities, for which a U.S. Government agency or a federally chartered corporation guarantees payments of principal and interest on the securities; Multi-Family MBS; Non-Agency RMBS, which are RMBS that are not issued or guaranteed by a U.S. Government-sponsored entity; and other mortgage-related investments. Preferred: OAKS.PRA Open the OAKS Information Page »
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