Cherry Hill Mortgage Redeems Preferred Stock Series B
Ticker: CHMI-PA · Form: 8-K · Filed: Jul 9, 2024 · CIK: 1571776
| Field | Detail |
|---|---|
| Company | Cherry Hill Mortgage Investment Corp (CHMI-PA) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: preferred-stock-redemption, financing, capital-structure
Related Tickers: CHMI
TL;DR
CHMI is calling its Series B preferred stock on Aug 9th at $25/share + dividends.
AI Summary
On July 9, 2024, Cherry Hill Mortgage Investment Corp. filed an 8-K report detailing the redemption of its Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The company announced the redemption of all outstanding shares of this series, with the redemption price set at $25.00 per share, plus any accrued and unpaid dividends. The redemption date is August 9, 2024.
Why It Matters
This redemption indicates a potential shift in the company's capital structure or financing strategy, which could impact future dividend payouts and the overall financial health of Cherry Hill Mortgage Investment Corp.
Risk Assessment
Risk Level: medium — Redemptions of preferred stock can signal financial distress or strategic changes that may carry risks for common stockholders.
Key Numbers
- $25.00 — Redemption Price (Per share price for the Series B preferred stock redemption.)
- August 9, 2024 — Redemption Date (The date on which the Series B preferred stock will be redeemed.)
Key Players & Entities
- Cherry Hill Mortgage Investment Corp. (company) — Registrant
- August 9, 2024 (date) — Redemption Date
- $25.00 (dollar_amount) — Redemption Price per Share
- Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (security) — Redeemed Security
FAQ
What is the total number of Series B preferred shares outstanding that are subject to redemption?
The filing does not specify the total number of outstanding Series B preferred shares being redeemed, only the redemption price and date.
What is the reason for the redemption of the Series B preferred stock?
The filing states the redemption is being made pursuant to the terms of the Certificate of Designations for the Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, but does not provide a specific business reason.
Will accrued and unpaid dividends be paid in addition to the redemption price?
Yes, the redemption price includes any accrued and unpaid dividends up to, but not including, the redemption date.
What is the ticker symbol for Cherry Hill Mortgage Investment Corp.?
The filing does not explicitly state the ticker symbol, but the company is Cherry Hill Mortgage Investment Corporation.
What is the par value of the Series B preferred stock?
The filing does not explicitly state the par value of the Series B preferred stock.
Filing Stats: 501 words · 2 min read · ~2 pages · Grade level 12.9 · Accepted 2024-07-09 06:45:32
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value CHMI NYSE 8.20% Series
Filing Documents
- ef20032197_8k.htm (8-K) — 34KB
- ef20032197_ex99-1.htm (EX-99.1) — 8KB
- 0001140361-24-032720.txt ( ) — 225KB
- chmi-20240709.xsd (EX-101.SCH) — 5KB
- chmi-20240709_def.xml (EX-101.DEF) — 18KB
- chmi-20240709_lab.xml (EX-101.LAB) — 27KB
- chmi-20240709_pre.xml (EX-101.PRE) — 20KB
- ef20032197_8k_htm.xml (XML) — 8KB
01
Item 8.01. Other Events On July 9, 2024, Cherry Hill Mortgage Investment Corporation (the "Company") issued a press release announcing that the Company's board of directors (the "Board"), based on the recommendation of a special committee comprised entirely of independent and disinterested members of the Board, authorized and approved the Company to internalize management, terminate the management agreement between the Company and its external manager, Cherry Hill Mortgage Management, LLC, and take all steps necessary to begin operating the Company as a fully integrated, internally managed mortgage REIT. The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 99.1 Press Release, dated July 9, 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CHERRY HILL MORTGAGE INVESTMENT CORPORATION Date: July 9, 2024 By: /s/ Michael Hutchby Michael Hutchby Chief Financial Officer, Treasurer and Secretary EXHIBIT INDEX Exhibit Number Description 99.1 Press Release, dated July 9, 2024