Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: Recent Sales of Unregistered Securities;
−Removed: Use of Proceeds from Registered Securities
−Removed: Redemption of Membership Units in OP ("OP Units") — Holders of OP Units have the right to require the OP to redeem all or a portion of their OP Units for cash or, at our option, shares of our class A common stock on a one-for-one basis.
−Removed: During the three months ended June 30, 2020 , we issued 184,395 shares of our class A common stock to an educational institution pursuant to a redemption request for the same number of OP Units.
−Removed: Such shares of class A common stock were issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.
−Removed: Purchases of Equity Securities by Issuer and Affiliated Purchasers
−Removed: The Company's common stock repurchase program expired in May 2020.
−Removed: There were no purchases by the Company of its class A common stock in the second quarter of 2020.
+Added: In July 2020, the Company, along with Colony Capital Operating Company, LLC, the operating subsidiary through which the Company conducts all of its activities and holds substantially all of its assets and liabilities, issued $300 million in aggregate principal amount of Colony Capital Operating Company, LLC’s 5.75% exchangeable senior notes due 2025 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
+Added: Holders of the Notes have the right to exchange such Notes for shares of the Company’s class A common stock, $0.01 par value per share.
+Added: The Notes will mature on July 15, 2025.
+Added: The exchange rate of the notes issued is based upon an initial exchange price of approximately $2.30 per share of class A common stock, and is subject to adjustment upon the occurrence of certain events.
Defaults Upon Senior Securities.
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