other
confidence high
sentiment neutral
materiality 0.60
American National Group issues 12M depositary shares of 7.375% Series D preferred stock
American National Group Inc.
- Closed public offering of 12,000,000 depositary shares; each represents 1/1,000th of a share of 7.375% Series D Preferred Stock.
- Net proceeds, plus cash on hand, to fully redeem outstanding 5.95% Series A Preferred Stock and related depositary shares.
- Filed certificate of amendment to establish preferences and restrictions for Series D Preferred Stock.
- Dividend restrictions on common and junior parity shares if Series D dividends not paid for prior period.