- Caliber (CWD) found that the institutional investor converted approximately $15.9 million of its Series B perpetual preferred stock into common stock.
- The investor converted 15,868 shares of preferred stock, originally issued at $1,000 each, into 63,472 shares of common stock at a conversion price of $250 per share.
- The company said the move removes $15.9 million of preferred equity from its balance sheet and replaces it with common equity, thereby reducing preferred equity in favor of common shareholders and streamlining its capitalization while overall equity capital remains unchanged.
Caliber converts $15.9 million of preferred stock into common stock
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