secwatch.observer — SEC 8-K summary
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Issuer:     KINGSWAY FINANCIAL SERVICES INC (KFS)
CIK:        0001072627
Form:       8-K
Filed at:   2025-05-19T23:59:59+00:00
Accession:  0001437749-25-017518
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kingsway issues $2M of 8% Class D Preferred Stock convertible into common
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- Sold 80,000 shares of Class D Preferred Stock at $25/share for $2.0M aggregate proceeds.
- Dividend rate 8% per annum, rising to 18% if unpaid for two consecutive quarters.
- Each preferred share convertible into 2.6316 common shares (max 210,526 shares) through May 2032.
- Mandatory redemption on May 7, 2032 at $25/share plus accrued dividends.
- Optional redemption of up to 25% after certain asset sales yielding 15% IRR.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1072627/000143774925017518/0001437749-25-017518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1072627/000143774925017518/kfs20250519_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-017518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer