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T-Mobile converting 5.5% preferred shares to common

Published 12/13/2017, 04:42 PM
© Reuters.  T-Mobile converting 5.5% preferred shares to common
TMUS
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  • T-Mobile (NASDAQ:TMUS) is executing a conversion of its 5.5% mandatory convertible preferred stock, Series A.
  • At 5 p.m. ET on Friday, all of those outstanding shares will convert to common stock at 1.6119 shares of common for each preferred; as of Sept. 30, it had about 20M shares of preferred stock outstanding.
  • Owners will get cash in lieu of fractional shares.
  • As previously announced, a dividend payment of $0.6875 per share of preferred stock will be made on the mandatory conversion date.
  • Now read: Verizon: Still Cautious, Despite Sequential Improvements


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