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Bank OZK | 4.625% A Non-Cumulative Perpetual Preferred Stock (OZKAP)
Prospectus excerpt: On October 28, 2021, Bank OZK (the “Company”) entered into a purchase agreement (the “Series A Preferred Stock Purchase Agreement”) with Morgan Stanley & Co. LLC, BofA Securities, Inc., and Wells Fargo Securities, LLC, as representatives of the several initial purchasers named in the Series A Preferred Stock Purchase Agreement (the “Initial Purchasers”), pursuant to which the Company agreed to sell, and the Initial Purchasers agreed to purchase, subject to and upon terms and conditions set forth therein, 14,000,000 shares of the Company’s 4.625% Series A Non-Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”), which represents $350 million in aggregate liquidation preference (the “Series A Preferred Stock Offering”). The Company estimates that the net proceeds from the Series A Preferred Stock Offering, after deducting the Initial Purchaser discount and estimated expenses, will be approximately $339 million. Full Prospectus PDF », Secondary Prospectus PDF », OZK Page »
Series: | A | Redeemable?: | Yes | Call Date: | 11/15/2026 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 14,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $17.20 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-7.80 (-31.20%) | Annualized Dividend: | 1.15624 | Recent Ex-Date: | 5/3/2024 | Current Yield: | 6.72% | Original Coupon: | 4.625% | Pay Period: | Quarterly | Pay Dates: | 15-Feb, 15-May, 15-Aug, 15-Nov | CDx3 Compliance Rating: |
Learn OZKAP's Rating
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Bank OZK provides a range of retail and commercial banking services. Co. provides a variety of commercial and consumer lending products to its customers, including real estate loans, consumer and small business loans, indirect lending for Recreational Vehicle and marine loans, business aviation financing, commercial and industrial loans, government guaranteed loans, agricultural loans, homebuilder loans, affordable housing loans and subscription financing, among others. Co. provides an array of deposit products, including non-interest bearing checking accounts, interest bearing transaction accounts, business sweep accounts, savings accounts, money market accounts, and time deposits. Preferred: OZKAP Open the OZK Information Page »
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Name: |
Bank OZK |
Website: |
www.ozk.com |
Sector: |
Banking & Savings |
Number of ETFs Holding OZK: |
77 (see which ones) |
Total Market Value Held by ETFs: |
$1,137,805,954.1 |
Total Market Capitalization: |
$5,428,000,000 |
% of Market Cap. Held by ETFs: |
20.96% |
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