secwatch.observer — SEC 8-K summary
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Issuer:     Kennedy-Wilson Holdings, Inc. (KW)
CIK:        0001408100
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001408100-23-000084
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kennedy-Wilson issues $200M preferred and warrants to Fairfax Financial
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- Sells 200K shares of 6% Series C Cumulative Perpetual Preferred and 12.34M warrants (strike $16.21) to Fairfax for $200M total.
- Proceeds to repay corporate line of credit and for general corporate purposes; closing conditioned on regulatory approvals.
- Series C ranks pari passu with existing Series A & B preferred; cumulative 6% quarterly dividend; redeemable at $1,000/share plus accrued.
- Warrants exercisable for 7 years via cash, cashless, or extinguishment of preferred shares; transfer restricted without Company consent.
- Fairfax agrees to standstill until beneficial ownership <5% of fully diluted common; limit of 19.9% voting power pre-stockholder approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1408100/000140810023000084/0001408100-23-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1408100/000140810023000084/kw-20230604.htm
  HTML page:      https://secwatch.observer/filing/0001408100-23-000084

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