Thornburg Mortgage Announces Successful Completion of Exchange Offer and Consent Solicitation for All Series of Preferred Stock
21 Novembre 2008 - 11:24PM
Business Wire
Thornburg Mortgage, Inc. (NYSE:TMA), announced today that it has
successfully completed the Exchange Offer and Consent Solicitation
for all series of its outstanding preferred stock that expired on
November 19, 2008. Shareholders who participated in the Exchange
Offer and Consent Solicitation received 3 shares of the company�s
common stock for each share of preferred stock validly tendered and
accepted. The company issued 126,260,109 shares of common stock on
November 21, 2008 in exchange for validly tendered shares of 95.6%
of its outstanding preferred stock. In addition, on November 20,
2008, the company filed amendments to its Charter to modify the
terms of each series of preferred stock. As a result of the
completion of the Exchange Offer and Consent Solicitation, the
preferred stock no longer meets the continued listing criteria
under the New York Stock Exchange (the �NYSE�) Listing Company
Manual. The NYSE issued a press release on November 20, 2008
announcing that trading in all series of preferred stock would be
suspended on November 20, 2008 and that suspension and delisting
procedures would begin promptly. The company does not intend to
list the preferred stock on any other national securities exchange.
The remaining preferred stock may be traded on over-the-counter
(OTC) markets. Thornburg Mortgage is a leading single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable-rate
mortgages.
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