Dec. 24 at 3:12 PM
$WHLRD From 10-Q issued for Q3 2023:
"The total cumulative dividends in arrears for Series D Preferred Stock is
$41.1 million as of September 30, 2023 (per share
$12.42)"
This means the company has accrued unpaid dividends of
$41.1 million on its Series D preferred shares. This is on top of the liquidation value of
$25 per share. Since these preferreds are contigently redeemable stock at holders discretion, holders can force issuer to redeem preferred stock at
$25 a share plus
$12.42 in unpaid dividends for total of
$37.42. These Series D preferreds currently trade at
$13.
