other material
confidence high
sentiment neutral
materiality 0.45
Franklin BSP Realty Trust converts all Series F Preferred Stock into common shares
Franklin BSP Realty Trust, Inc.
- All 39,733,299 outstanding Series F Convertible Preferred shares auto-converted to common on April 19, 2022.
- Common stock outstanding rises to 83,690,662 shares; no Series F Preferred shares remain.
- Converted common shares are freely tradeable on NYSE; still outstanding: 1,400 Series C, 17,950 Series D, and 10,329,039 Series E Preferred shares.
- Conversion eliminates convertible preferred overhang and simplifies capital structure.