Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: 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.
−Removed: 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.
−Removed: The Notes will mature on July 15, 2025.
−Removed: 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.
+Added: Redemption of Membership Units in OP ("OP Units")
+Added: 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.
+Added: In the first quarter of 2021, in satisfaction of redemption request by a former employee OP Unit holder, we issued 5,147 shares of our class A common stock to the former employee.
+Added: Such shares of class A common stock were issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.
Defaults Upon Senior Securities.
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