Can someone explain this to me? Its the ticker SQFTs recent filings.

Commencing on or after June 15, 2026, we may redeem, at our option, the Series D Preferred Stock, in whole or in part, at a cash redemption price equal to $25.00 per share, plus any accumulated and unpaid dividends to, but not including, the redemption date. Prior to June 15, 2026, upon a Change of Control, as defined in this prospectus, we may redeem, at our option, the Series D Preferred Stock, in whole or part, at a cash redemption price of $25.00 per share, plus any accumulated and unpaid dividends to, but not including the redemption date. The Series D Preferred Stock has no stated maturity, will not be subject to any sinking fund or other mandatory redemption, and will not be convertible into or exchangeable for any of our other securities.

Does this mean that whoever purchased these SERIES D PREFERRED STOCK can have it redeemed at 25.00 per share on June 15th 2026? Im so confused with these sec filings. Sorry just trying to learn about reading these filings bc i know they can be important

 

It might not answer your question, but sometimes we're asking wrong questions.

At this pace, they're quite optimistic about staying till 2026 at all.

Preferred or not, there's plenty of better options, especially given the time frame.

 

It sounds like the answer is yes and anytime before that if there was a Change of Control as defined in the prospectus (accumulated and unpaid dividends will still be paid).

I'm not an expert on preferred stock, but the biggest risk with this is they decide not to pay the dividend before going out of business. Otherwise, you would be guaranteed the $25 plus the accumulated dividends before the stock is called.

 

Yes i think that as well. Thank you for your input

 

No, they have the option to redeem it, not you. They're pretty clear on the language about that, "we may redeem, at our option". It actually limits their value to a maximum of $25-accumulated and unpaid dividends.

 

I think I would not be the right one to answer the question since I do not have expertise in preferred stock. Still I think the stocks can be redeemable at 25 dollars per share on the 15th of June 2026.