other material
confidence high
sentiment neutral
materiality 0.70
comScore issues 13.3M Series B preferred shares to cancel $32.8M accrued dividends
COMSCORE, INC.
- Issued 13.3M shares of Series B Convertible Preferred Stock to holders in exchange for permanent waiver of $32.8M in accrued dividends for 2023 and 2024.
- New shares convertible into ~0.7M common shares at effective price of $49.438/share, a premium to current trading price.
- Dividend rate on all preferred stock returns to 7.5% per annum from previous 9.5% on deferred balance.
- Amended Stockholders Agreement reduces special dividend threshold to $47.0M (from $100M) after accounting for new shares.