KKR issues $2.59B of 6.25% Series D Mandatory Convertible Preferred Stock

KKR & Co. Inc.

Issued 51.75M shares at $50 liquidation preference per share, including full over-allotment exercise.
Dividends cumulative at 6.25% annually, payable quarterly in cash or common stock; first payment June 1, 2025.
Mandatory conversion on March 1, 2028 into 0.3312–0.4140 common shares per preferred share based on VWAP.
While preferred outstanding, dividends and repurchases on common stock restricted unless all accumulated preferred dividends paid.
Net proceeds of ~$2.53 billion; underwriting agreement with Morgan Stanley and KKR Capital Markets.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

KKR & Co. Inc.: Filed Certificate of Designations establishing terms of Series D Mandatory Convertible Preferred Stock (effective 2025-03-07).

Change: charter amendment
Effective: 2025-03-07

Exact text from the filing

the Company filed a Certificate of Designations (the “Certificate of Designations”) with the Secretary of State of the State of Delaware on March 7, 2025 to establish the designations, powers, preferences and rights of the Mandatory Convertible Preferred Stock

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24 governance changes filed in the last 30 days. Browse all governance changes →

KKR & Co. Inc. filing history →

Source: SEC EDGAR

accession 0001140361-25-007608

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