To: E_K_S who wrote (78355 ) 10/27/2025 9:36:20 AM From: Elroy Read Replies (1) | Respond to Schwab indicates the preferreds are halted.Holders of Sotherly’s 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock, 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock, and 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock (collectively, the “Preferred Stock”) issued and outstanding immediately before the Effective Time (as defined in the Merger Agreement), shall be entitled to receive the Merger Consideration if the holder thereof elects to convert, subject to the terms and conditions contained in the Company’s charter (including any articles supplementary) (the “Charter”), including the share cap as defined therein, their respective shares of Preferred Stock into shares of Common Stock after the closing of the Merger. If not converted, each share of the Preferred Stock shall be unaffected by the Merger and will remain outstanding in accordance with their respective terms as set forth in the Company’s Charter. The Merger is expected to close in the first quarter of 2026, subject to approval by Sotherly stockholders and customary closing conditions. Andrew Sims, Sotherly’s Chairman of the Board and one of the Company’s largest stockholders, has agreed to vote all of his shares in favor of the transaction. --- I have some CIM preferreds from 2020 Covid panic which I purchased around $8. They're great, back to almost $25 now, and they increased their dividend rate from fixed to a floating number (about 10% now) about a year ago. Wish I had bought a gazillion of those.
