−Removed: Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.
+Added: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information.
1 unchanged sentence
Approximate Number of Holders of Our Common Stock
−Removed: As of February 24, 2020 there were 171 holders of record of our common stock.
−Removed: This number excludes our Common Stock owned by shareholders holding under nominee security position listings.
+Added: As of March 16, 2021 there were 144 holders of record of our Common Stock.
+Added: This number excludes stockholders whose stock is held in nominee or street name by brokers.
Dividend Policy
4 unchanged sentences
commencing on the first day after the first missed quarterly payment, January 1, 2019 and will continue until such time as the Company has paid all accumulated and unpaid dividends on the Series D Preferred in full.
−Removed: See Note 9, Equity and Mezzanine Equity, to our audited consolidated financial statements included in this Form 10-K.
+Added: See Note 8, Equity and Mezzanine Equity, to our consolidated financial statements included in this Form 10-K.
As a result of the dividend suspension on the Series A Preferred, Series B Preferred and Series D Preferred, no dividends may be declared or paid on the Common Stock until all accumulated accrued and unpaid dividends on the Preferred Stocks have been declared and paid in full.
At this time, we can provide no certainty as to when or if dividends will be reinstated.
−Removed: However, we intend to make all required dividend distributions, if any, that will enable us to maintain our REIT status and to eliminate or minimize our obligation to pay income and excise taxes.
+Added: However, we intend to make all required dividend distributions, if any, that will enable us to
+Added: maintain our REIT status and to eliminate or minimize our obligation to pay income and excise taxes.
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Future Liquidity Needs.”
−Removed: Dividend Payments
−Removed: We have made dividend payments to holders of our Common Stock and holders of common units in our Operating Partnership as follows in 2019 and 2018:
−Removed: Dividend Period
−Removed: Payment Amount
−Removed: per Share or Unit
−Removed: October 1, 2017 - December 31, 2017
+Added: Operating Partnership Purchase of Stock
+Added: On September 22, 2020, the Operating Partnership purchased 71,343 shares of Series D Preferred at $15.50 per share from an unaffiliated investor in an unsolicited offer.
+Added: On December 23, 2020, the Company announced a “modified Dutch auction” tender offer to purchase up to $19.00 million in shares of its Series D Preferred at a price not greater than $18.00 nor less than $15.50 per Series D Preferred Share, to the sellers in cash, less any applicable withholding taxes and without interest.
+Added: Subsequent to December 31, 2020, the Company announced, that the value of Series D Preferred Shares that the Company was offering to purchase increased from $19.00 million to $20.00 million and the tender offer was extended to February 16, 2021.
+Added: On February 17, 2021, the Company announced the tender offer was further extended to March 12, 2021 and the value of Series D Preferred Shares that the Company was offering to purchase decreased from $20.00 million to $6.00 million.
+Added: The tender offer expired, in accordance with its terms, on March 12, 2021.
+Added: In accordance with the terms and conditions of the tender offer and based on the final count, the Company accepted for purchase 387,097 Series D Preferred Shares at a purchase price of $15.50 per share, for an aggregate cost of $6.00 million, excluding fees and expenses relating to the tender offer.
Selected Financial Data.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.