15 unchanged sentences
Recent Sales of Unregistered Securities and Use of Proceeds
−Removed: On November 9, 2021, we issued to the Operator an aggregate of 180,871 shares of our Series A Preferred Stock as payment, in lieu of cash, for $4.5 million of asset management fees owed to the Operator under the Investment Management Agreement for the second and third quarters of 2021.
+Added: On December 20, 2022, we issued to the Operator an aggregate of 36,663 shares of our Series A1 Preferred Stock as payment, in lieu of cash, for $916,575 of asset management fees owed to the Operator under the Investment Management Agreement for the third quarter of 2022.
Such securities were issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.
−Removed: We will pay the asset management fees for the fourth quarter of 2021, and it is likely we will seek to pay some or part of the year ending December 31, 2022 asset management fees, in shares of Series A Preferred Stock .
Shares of Series A1 Preferred Stock may be redeemed at our option or at the option of the holder for a redemption price payable in cash or shares of Common Stock as described in Note 10 to the consolidated financial statements included in this Annual Report on Form 10-K.
+Added: On December 23, 2022, the Company announced it would redeem all remaining outstanding shares of its Series L Preferred Stock in cash on January 25, 2023 at its stated value of $28.37 per share.
+Added: The total cost to complete the Series L Redemption, including transaction costs of $93,000 (or $0.03 per share), was $83.8 million.
+Added: The payment for the Series L Redemption was made on January 25, 2023 as well as the accrued and unpaid dividends on the redeemed shares of Series L Preferred Stock through December 31, 2022 of $1.56 per share (or $4.6 million accrued and unpaid dividends in the aggregate).
+Added: No additional dividends will be owed on the redeemed shares of Series L Preferred Stock subsequent to December 31, 2022.
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