New Preferred Stock And Exchange Traded Debt IPOs, September 2024

Oct. 02, 2024 8:27 AM ETHPE, OCCI, HPE.PR.C, OCCIN, OCCIO, GECC
(7min)

Summary

  • Hewlett Packard Enterprise, NewtekOne, Great Elm Capital, and OFS Credit Company have all priced new offerings, including convertible preferred stock and exchange-traded notes, with varying terms and yields.
  • Investors can purchase newly introduced preferred stock at wholesale prices on the OTC, potentially avoiding capital loss if prices drop.
  • CDx3 tracks past preferred stock and ETD offerings, providing alerts when securities fall below par value, offering insights into discounted investment opportunities.
  • Our goal is to keep fixed-income investors informed about new and past offerings, ensuring they have the latest market insights for their investment decisions.
Five stacks of coloured coins with a graph line above

Richard Drury

New offering summaries

Hewlett Packard Enterprise Company (HPE) priced an offering of $1.35 billion worth of new series C mandatory convertible preferred stock, at $50 per share. The shares will convert to common stock in September 2027, at a conversion ratio of between 2.5352

This article was written by

Whether you are the kind of investor who sticks with preferred stocks with a CDx3 Compliance Score rated 10 out of 10, or whether your portfolio has room for 9-score-and-lower securities, stay tuned for future articles recapping new IPOs and interesting preferred stock activity that we notice here at the CDx3 Notification Service.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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HPE--
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OCCI--
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HPE.PR.C--
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OCCIN--
OFS Credit Company, Inc. CAL NT 26
OCCIO--
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