AI English summary of an SEC filing — figures as filed
NiSource NINiSource said it will redeem all outstanding shares of its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock and Series B-1 Preferred Stock, along with the corresponding depositary shares, on February 9, 2024, with the redemption announced on March 15, 2024.
Key points
AI summaryNiSource said it will redeem all outstanding shares of its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock and Series B-1 Preferred Stock, along with the corresponding depositary shares, on February 9, 2024, with the redemption announced on March 15, 2024.
The company said it will redeem all 20,000,000 NYSE: NI PR B depositary shares on the redemption date at a redemption price of $25.00001 per depositary share. Each depositary share represents a 1/1,000 ownership interest in 1 share of Series B Preferred Stock and a 1/1,000 ownership interest in 1 share of Series B-1 Preferred Stock.
The company said it will separately pay the previously declared regular quarterly dividend of $406.25 per share of Series B Preferred Stock ($0.40625 per depositary share) for the period from December 15, 2023 to, but excluding, March 15, 2024, on March 15, 2024, to holders of record as of February 23, 2024. The redemption price does not include accumulated and unpaid dividends.
The company said the depositary shares are held through The Depository Trust Company (DTC) and will be redeemed under DTC procedures. It explained that Computershare Inc. and Computershare Trust Company, N.A., together acting as redemption agent, will make payment to DTC for the depositary shares under the Deposit Agreement.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
NiSource Announces Redemption of All Preferred Stock and Depositary Shares
NiSource said it will redeem all outstanding shares of its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock and Series B-1 Preferred Stock, along with the corresponding depositary shares, on February 9, 2024, with the redemption announced on March 15, 2024.
Source · Based on the filing body and exhibits
Redemption Price per Depositary Share of 20,000,000
The company said it will redeem all 20,000,000 NYSE: NI PR B depositary shares on the redemption date at a redemption price of $25.00001 per depositary share. Each depositary share represents a 1/1,000 ownership interest in 1 share of Series B Preferred Stock and a 1/1,000 ownership interest in 1 share of Series B-1 Preferred Stock.
Source · Based on the filing body and exhibits
Separate Payment of Previously Declared Quarterly Dividend
The company said it will separately pay the previously declared regular quarterly dividend of $406.25 per share of Series B Preferred Stock ($0.40625 per depositary share) for the period from December 15, 2023 to, but excluding, March 15, 2024, on March 15, 2024, to holders of record as of February 23, 2024. The redemption price does not include accumulated and unpaid dividends.
Source · Based on the filing body and exhibits
Redemption Procedures and Redemption Agent
The company said the depositary shares are held through The Depository Trust Company (DTC) and will be redeemed under DTC procedures. It explained that Computershare Inc. and Computershare Trust Company, N.A., together acting as redemption agent, will make payment to DTC for the depositary shares under the Deposit Agreement.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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