Viad Corp Announces Mandatory Conversion Date for 5.5% Convertible Series A Preferred Stock
Viad Corp (VVI)
Last viad corp earnings: 2/6 04:05 pm
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US:NYSE Investor Relations:
viad.com/investors/investor-center/default.aspx
Company Research
Source: Business Wire
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Viad Corp (NYSE: VVI) (“Viad” or the “Company”) today announced that it achieved the Company’s right to convert (the “Mandatory Conversion”) all of its outstanding shares of Convertible Series A Preferred Stock (the “Preferred Stock”), which carries a dividend of 5.5%, and delivered a notice of Mandatory Conversion to Crestview Partners, the holder of the Preferred Stock.The Company’s Mandatory Conversion right was achieved on December 6, 2024, as a result of Viad’s common stock exceeding a volume-weighted-average price in excess of $42.50 for 20 out of 30 consecutive trading days.The Company has established December 31, 2024 as the effective date for the Mandatory Conversion, at which time, all 135,000 shares of Preferred Stock will be converted into approximately 6.7 million shares of Viad common stock, and no additional dividends will accrue or be payable on the Preferred Stock. Currently, there are approximately 21.3 million shares of Viad c
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VVI
Earnings
- 11/7/24 - Beat
VVI
Sec Filings
- 12/18/24 - Form 8-K
- 12/9/24 - Form 8-K
- 11/7/24 - Form 10-Q
- VVI's page on the SEC website