WCC-A preferred might be one for my snail portfolio 10.625%
yield at par. I'd like to get it in the 26s. I might even
sell some puts to get the common a little lower from here.
WESCO Intl, Inc. Dep Shares Ser A Rate Reset Cumulative
Preferred Stock
June 22, 2020 -- WESCO International, Inc., a Delaware
corporation (“WESCO”), completed its previously announced
acquisition of Anixter International Inc., a Delaware corporation
(“Anixter”). Pursuant to the terms of the Agreement and Plan of
Merger, dated as of January 10, 2020 (the “Merger Agreement”), by
and among Anixter, WESCO and Warrior Merger Sub, Inc., a Delaware
corporation and a wholly owned subsidiary of WESCO (“Merger Sub”),
Merger Sub was merged with and into Anixter (the “Merger”), with
Anixter surviving the Merger and continuing as a wholly owned
subsidiary of WESCO. At the effective time of the Merger (the
“Effective Time”), each outstanding share of common stock, par
value $1.00 per share, of Anixter (the “Anixter Common Stock”)
(subject to limited exceptions, including shares with respect to
which dissenters’ rights have been validly exercised in accordance
with Delaware law) was converted into the right to receive (i)
$72.82 in cash, without interest, after giving effect to certain
adjustments set forth in the Merger Agreement (the “Cash
Consideration”), (ii) 0.2397 shares of common stock of WESCO (the
“Common Stock Consideration”), par value $0.01 per share (the
“WESCO Common Stock”) and (iii) 0.6356 depositary shares (the
“Preferred Stock Consideration”), each representing a 1/1,000th
interest in a share of newly issued fixed-rate reset cumulative
perpetual preferred stock of WESCO, Series A, with a $25,000 stated
amount per whole preferred share and an initial dividend rate equal
to 10.625% (the “WESCO Series A Preferred Stock” and, collectively
with the Cash Consideration and the Common Stock Consideration, the
“Merger Consideration”).
QUANTUMONLINE.COM SECURITY DESCRIPTION: WESCO
International, Inc. Depositary Shares each representing a 1/1000
interest in a share of the Series A Fixed-Rate Reset Cumulative
Perpetual Preferred Stock, liquidation preference $25 per
Depositary share, redeemable at the issuer's option on 06/22/2025
and every June 22nd in every fifth year thereafter at $25 per share
plus accrued and unpaid dividends, and with no stated maturity.
Cumulative distributions of the Annual Fixed Dividend Rate will
be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of
record on the record date fixed by the board, not more than 35 days
or less than 10 days prior to the payment date (NOTE: the
ex-dividend date is one business day prior to the record date). The
Annual Fixed Dividend Rate will be 10.625% until the first
redemption date, then it will be equal to the sum of the five-year
U.S. Treasury rate on the applicable fixed rate calculation date
plus 10.325%, resetting every 5 years thereafter on applicable
fixed rate calculation date (see prospectus for more
details).
The Company may redeem the Depositary Shares before
06/22/2025 at $25.50 (102%) of their principal amount plus accrued
and unpaid dividends if a rating agency event occurs. (see
prospectus for further information). Upon the occurrence of a
change of control the company will have the option within 120 days
to redeem the preferred shares at $25 per share plus accrued and
unpaid dividends. If the company has exercised their redemption
right, the holders will NOT have the following conversion right.
Upon the occurrence of a Change of Control involving the issuance
of additional shares of Common Stock or other Change of Control
transaction, in each case, approved by holders of Common Stock,
each holder of shares of Series A Preferred Stock shall have the
right to convert some or all of the Series A Preferred Stock held
by such holder on the Change of Control Conversion Date into a
number of shares of Common Stock, per share of Series A Preferred
Stock to be converted (see prospectus for more details).
This security was not rated by Moody’s or S&P at the
time of its IPO. In regard to the payment of dividends and upon
liquidation, the preferred shares rank junior to the company's
senior debt, equally with other preferreds of the company, and
senior to the common shares of the company. See the IPO prospectus
for further information on the preferred stock by clicking on the
‘Link to IPO Prospectus’ provided below.
Posted by kalkgrun on 30th of Jul 2020 at 11:19 am
Trimmed some non taxible SHOP yesterday
http://schrts.co/pyiiiVCz yesterday after the run; will add more
PYPL http://schrts.co/aWpQWrKn on the next pullback.
Posted by kalkgrun on 23rd of Jul 2020 at 11:49 am
Greetings everyone. Long term investor, swing trader, call
seller, physical metal buyer. Long by weight: SHOP, AMZN,
OKTA, PYPL, TSLA, RHHBY, APPN, PANW, CRWD, PFE. I caught the
CTXS trade for a nice gain and added more $PLAT physical before the
move.
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Wesco
Posted by kalkgrun on 30th of Jul 2020 at 12:07 pm
WCC-A preferred might be one for my snail portfolio 10.625% yield at par. I'd like to get it in the 26s. I might even sell some puts to get the common a little lower from here.
WESCO Intl, Inc. Dep Shares Ser A Rate Reset Cumulative Preferred Stock
Ticker Symbol: WCC-A CUSIP: 95082P303 Exchange: NYSE
Security Type: Traditional Preferred Stock
Cumulative distributions of the Annual Fixed Dividend Rate will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board, not more than 35 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Annual Fixed Dividend Rate will be 10.625% until the first redemption date, then it will be equal to the sum of the five-year U.S. Treasury rate on the applicable fixed rate calculation date plus 10.325%, resetting every 5 years thereafter on applicable fixed rate calculation date (see prospectus for more details).
The Company may redeem the Depositary Shares before 06/22/2025 at $25.50 (102%) of their principal amount plus accrued and unpaid dividends if a rating agency event occurs. (see prospectus for further information). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a Change of Control involving the issuance of additional shares of Common Stock or other Change of Control transaction, in each case, approved by holders of Common Stock, each holder of shares of Series A Preferred Stock shall have the right to convert some or all of the Series A Preferred Stock held by such holder on the Change of Control Conversion Date into a number of shares of Common Stock, per share of Series A Preferred Stock to be converted (see prospectus for more details).This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Exchange
Ann Amt
CallPrice
Matur Date
Dated
Tax Rate
Chart
$2.65625
$25.00
None
6/24/2020
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
the ANT IPO will be
AMD still holding up despite today
Posted by kalkgrun on 30th of Jul 2020 at 11:21 am
the ANT IPO will be huge something like $200 B
Trimmed some non taxible SHOP
Greetings everyone. Long term investor, swing trader, call seller, physical ...
Posted by kalkgrun on 30th of Jul 2020 at 11:19 am
Trimmed some non taxible SHOP yesterday http://schrts.co/pyiiiVCz yesterday after the run; will add more PYPL http://schrts.co/aWpQWrKn on the next pullback.
Added SQQQ target 7.50 stop
Added to my SQQQ position and re-entered SLV long calls
Posted by kalkgrun on 28th of Jul 2020 at 04:01 pm
Added SQQQ target 7.50 stop 6.20
Long TLRY and CGC.
Some money flow into Cannabis names today: MJ CGC CRON ...
Posted by kalkgrun on 28th of Jul 2020 at 01:13 pm
Long TLRY and CGC.
Like the move in the
Posted by kalkgrun on 28th of Jul 2020 at 01:12 pm
Like the move in the 420 stocks. Long CGC http://schrts.co/CwpbYHWxand TLRY http://schrts.co/MkNJDigZadded another chunk today.
Sold PFE JUL 31 20
Posted by kalkgrun on 27th of Jul 2020 at 12:45 pm
Sold PFE JUL 31 20 $39 calls for $.32 to pick up some change. Sold the same strike last week.
Greetings everyone. Long term investor,
Posted by kalkgrun on 23rd of Jul 2020 at 11:49 am
Greetings everyone. Long term investor, swing trader, call seller, physical metal buyer. Long by weight: SHOP, AMZN, OKTA, PYPL, TSLA, RHHBY, APPN, PANW, CRWD, PFE. I caught the CTXS trade for a nice gain and added more $PLAT physical before the move.