Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Maybe EI can share his view on this?
What will this mean for us?
W2007 GRACE ACQUISITION I, INC.
Announces Refinancing and Warrant Exercise
IRVING, TX — April 14, 2014 — W2007 Grace Acquisition I, Inc. today announced the refinancing of its existing $955 million indebtedness with a new $976 million financing. The new financing was lead by German American Capital Corporation (the “GACC Financing”), with Goldman Sachs Mortgage Company acquiring a minority participation interest. The Company expects the senior loan under the GACC Financing to be securitized within the next ninety days. The GACC Financing bears interest at LIBOR plus 3.3%, has an initial term of two years and has three one-year extension options. It is secured by mortgages on 106 hotels owned by subsidiaries of W2007 Equity Inns Senior Mezz, LLC (“Senior Mezz, LLC”). Simultaneously with the closing of the GACC Financing, WNT Holdings, LLC, an affiliate of the Whitehall Funds, acquired from a subsidiary of the Company pursuant to the exercise of a warrant agreement a 97% interest in Senior Mezz, LLC. The Company retained a 3% interest in Senior Mezz, LLC.
Hank-
I agree with your concern. Goldman has acted unethically and illegally (imo) for the last several years here. However they own 60% of the preferred and 100% of the common.
I wonder if they were getting some heat from the SEC asking questions so they figured the best way was to "make everybody whole" ignoring the fact of how they obtained the 60% of the preferreds?
Does anybody know of any other situation where Goldman or another IB where they have acted as bad as they have here? A leopard doesn't change its stripes.
JPMs handling of DIMEQ warrants were similar in that there is/was contradictory evidence that shows that it was never transferred from WAHUQ to JPM yet they testified it was.
I don't mean to be a wet blanket. But I don't see anything intuitive here. Goldman's track record of fulfilling its duty is not grand.
I would happy to be persuaded to see your thinking.
Congrats EI and Chevy (all all others)-
First post on this board was Fall of 2011. If you got your shares then it was trading under $2 so way to go. Nobody deserves it more than you two. Too bad one didn't get in this in 2010 for $.10/share but I assume that's when Goldman got the majority of their shares.
I'm happy with the 100 shares and I'd be buying more right now here if I could. My current role requires me that I have no access to my trading accounts as per my employement contract so I have simply have them in equity accounts except for a small amount of money that is in my wifes name. If this pays out this year even from right now that is a hell of a return. EMH my ass.
It is intuitive.
W2007 Grace Acquisition will be left with a pile of cash. In order for GS, directly or indirectly, to take the cash out, everything above common equity on the right side of the balance sheet must be resolved.
Why will preferred stockholders will be unscrewed? The sister company not only gets 58.8 percent of the accrued but unpaid dividends but also the liquidation value of the shares it holds.
My thinking is one "entity".
Now that everything is out in the open, there is nothing to stop additional purchases by PFD Holdings, LLC.
Paid?
Please tell me where you see that we are finally getting paid, instead of being screwed?
I am also to understand that ARC Hospitality is actually targeting a closing prior to Dec 2014, but that they have given themselves some breathing room in this filing.
The seller financing this refers to is Goldman providing a short-term loan to ARC Hospitality. It is my understanding that subsequent to closing ARC Hospitality will seek to raise preferred equity from its current investors to clear this financing.
Probably one person putting out identical limit orders trying to get a fill in either, or both classes.
Something magical about $20.10 yesterday?
Sales price $1.925 billion.
Total assets were $1.469 billion at 3/31/14. Liabilities at $1.227 billion, while equity stood at $242 million.
Ducks were being lined up in a row to do something, one way or another.
W2007 Grace I, LLC Unaudited Condensed Consolidated Financial Statements (3/31/14)
http://www.sec.gov/Archives/edgar/data/1583077/000114420414034823/v380013_ex99-3.htm
W2007 Grace I, LLC 2013 Consolidated Financial Statements
http://www.sec.gov/Archives/edgar/data/1583077/000114420414034823/v380013_ex99-2.htm
The lawsuit was all about getting a free look into financials.
I have been paying for financials on an annual basis. One condition is signing a confidentiality agreement stating no public disclosure. No need for that anymore. The cat is now out of the bag!
EI You are the man, not just here but all stocks, thank you for letting me ride yours and mikes coat tails, lobster and steak are still waiting for you
Other than "hope", how do you believe that we are going to get paid? I don't see anything.
I'll second that.
Although we may be into Sept/Oct before the details from yesterdays news are fully revealed I want to send out a congratulatory shout-out to Enterprising Investor today for his exceptional ability to identify complex and very obscure investing opportunities.
This marks year 3 since you created the W2007 board here EI. Back then nobody was talking about Grace Preferred stock ...including the WSJ ...or the venerated guru's over at Seeking Alpha.
You identified it as a legitimate opportunity years ahead of your peers...and you did it at a time when GS appeared to have the perfect choke-hold on shareholders and the situation.
The readers here on Ihub had exclusive content from a guy who always handles himself as professional as any Fortune 500 CFO...imagine that.
Thanx EI and congratulations my friend...I know for you the joys of winning are not about the money (it's a very nice door prize for the rest of us though) lol...but for you the sweetest dividend comes in the genuine satisfaction in knowing your hunches were spot on!
Just read the 8K. Good rehash of events to date, but no hints as to ARC's intentions.
Be calm and seek redemption.
By the time this deal gets done, preferred holders will most likely be due six and one-half years worth of accumulated, undeclared dividends.
WGCBP and WGCCP still have a great deal of upside ahead.
W2007 Grace Acquisition I, Inc. and WNT Holdings, LLC Announce Agreement to Sell Portfolio for $1.925 Billion (6/02/14)
IRVING, TX — June 2, 2014 — W2007 Grace Acquisition I, Inc. (“Grace”) and WNT Holdings, LLC (“WNT”) announced today that certain of their subsidiaries have entered into an agreement to sell their 126 hotels for a combined purchase price of $1.925 billion, subject to certain adjustments, to affiliates of American Realty Capital Hospitality Trust, Inc. (“ARC Hospitality”). ARC Hospitality is a publicly registered, non-traded real estate investment trust (“REIT”) that intends to qualify as a REIT for tax purposes with the taxable year ending December 31, 2014. ARC Hospitality is expected to assume the existing $976 million financing secured by the 106 hotels owned by WNT’s subsidiaries and the remaining 20 hotels will be delivered unencumbered by any financing. Additionally, the selling subsidiaries have agreed to provide seller financing in certain circumstances.
The closing of the acquisition is subject to customary franchisor and lender approvals as well as other usual closing conditions and is expected to close in the fourth quarter of 2014. There can be no assurance that the transaction will close as scheduled, or at all.
Goldman, Sachs & Co. and Deutsche Bank Securities Inc. acted as financial advisors to the selling subsidiaries. RCS Capital, the investment banking and capital markets division of Realty Capital
Securities, LLC, acted as financial advisor to ARC Hospitality. It is expected that Goldman, Sachs & Co. and Deutsche Bank Securities Inc. will provide financing to ARC Hospitality in connection with the acquisition.
Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as “will,” “should,” “may,” “anticipate,” “believe,” “expect” and “intend” indicate a forward-looking statement, although not all forward-looking statements include these words.
About ARC Hospitality
ARC Hospitality is a publicly registered, non-traded real estate investment trust (“REIT”) that intends to qualify as a REIT for tax purposes with the taxable year ending December 31, 2014.
MEDIA CONTACTS:
W2007 Grace Acquisition I, Inc. and WNT Holdings, LLC
Andrea Raphael
Tel: (212) 902-5400
Dan Smith
Tel: (972) 368-2081
http://www.snl.com/Cache/1500061132.PDF?Y=&O=PDF&D=&FID=1500061132&T=&IID=103147
Thanks for the heads up.
Per the Street Insider about a half hour ago....
NEW YORK, June 2, 2014 /PRNewswire/ -- American Realty Capital Hospitality Trust, Inc. ("ARC Hospitality") announced today that it has entered into an agreement to acquire the Equity Inns lodging portfolio ("Equity Inns" or the "Portfolio") for an expected purchase price of $1.925 billion from subsidiaries of W2007 Grace I, LLC and WNT Holdings, LLC, each of which are indirectly owned by one or more Whitehall Real Estate Funds ("Whitehall"), real estate private equity funds sponsored by The Goldman Sachs Group, Inc.
The Portfolio, which consists of 126 hotels totaling 14,934 rooms across 35 U.S. states, is franchised by leading global hotel brands including Hilton Hotels & Resorts, Marriott International, Hyatt Hotels and InterContinental Hotels Group. It encompasses a number of well-known hotel flags, including Hampton Inn, Hilton Garden Inn, Homewood Suites, Embassy Suites, Courtyard, Residence Inn, Hyatt Place and Holiday Inn.
Sorry for the confusion, debt yield meaning net operating income or net cash flow from the portfolio of collateral divided by the outstanding principal balance of the loan. Per the press release on the Equity Inns website, they secured the debt at a cost of capital of LIBOR plus 3.30%, which I assume is meaningfully below the cost of capital that was replaced.
Mad, when you cite "debt yield" are you saying that an ARM loan on this collateral will start off at a yield of more than 10%? Why would they refinance at a rate higher than the present loan rate?
I don't. However, this loan is scheduled to be securitized as a single borrower deal, and from what I can ascertain, the entire loan is a senior mortgage with no mezzanine debt being borrowed. Understanding how the securitized market works, no lender would try to securitize a stand alone floating rate senior mortgage execution unless they were comfortable that the "A-Note" would be rated as investment grade and they could syndicate the "B-Note". In todays market, securitized floating rate loans are being cut off at around 50% loan to value and 13% to 14% debt yields. Even assuming there is a "B-Note," hard to envision the LTV being much above 60% and debt yield much below 11% to 11.5%.
Taking all of this into consideration, it would be absolutely "off market" if the new senior loan contained cash trap and/or dividend blocker provisions out of the gate with that level of credit support. That is the thesis supporting my comment, but I could very well be wrong. However, I would also say that if my thesis is relatively accurate, and the credit metrics are strong and Whitehall accepted a cash trap/dividend blocker in the structure, I would confidently say that there is a lender out there today that would have written the same loan without that level of structure.
you seem pretty certain of your rumor. how do you know that the new loan does not have damaging cash restrictions similar to Goldmans?
Mad, when you posted "and seeing as how the senior debt no longer contains any restrictive cash traps" do you mean this assuming that a deal happens on the portfolio, or have the debt terms already changed somehow.
Rumors swirling that Whitehall is close to agreeing to terms to sell the Equity Inns Portfolio. Pricing for the assets is unclear. What WH will do with the proceeds is also unclear.
The critical date to watch here will be June 30, as that is the next dividend distribution date, and seeing as how the senior debt no longer contains any restrictive cash traps, Whitehall has no argument as to why they would not declare a dividend.
Welcome to the Club!
Please note that while you are indeed an additional shareholder in W2007 Grace Blah, Blah, Blah, new shareholders do NOT get counted as additional shareholders, UNLESS, their share(s) is/are held in their OWN name, and NOT in "Street Name."
For the purposes of counting the number of shareholders, if we have 1,500 shareholders owning their shares in Street Name through Fidelity, it is only Fidelity that is counted, and Fido is counted as being ONE (1) SINGLE SHAREHOLDER, rather than as 1,500 separate shareholders.
In order to get the most bang for the buck, I recommend that shareholders ask that AT LEAST one (1) share be transferred into your name (rather than Street Name), so that the numbers can add up to truly and accurately reflect the actual numbers of shareholders/owners, and not using some arbitrary "Number of Brokerages Out There" type count that are holding for Beneficial Owners.
Even better than moving just one share, consider moving 10, 20, 50, even 100 shares into your own name. Once you receive a Stock Certificate for the shares that YOU own in WGCBP and/or WGCCP, you are then free to Contact the Transfer Agent (ComputerShare, at Computershare Shareholder Services), and they will gladly convert your certificate into as many new shares to NEW, DIFFERENT OWNERS to whom you gift shares. And they charge you NOTHING, NOT A SINGLE PENNY, to print/send new certificate(s) to you and the new W2007 shareholder(s).
If you felt so inclined, you could set up an UTMA/UGMA account for your children, grandchildren, the neighbor's children, a total stranger's children. The important thing is to make sure that the shares are taken out of Street Name, placed in YOUR name, and then feel free to transfer to friends, family, acquaintances. A share of W2007 Preferred is currently fetching just under $20.00. For a gift of $20.00, you can give the gift of share ownership to a young child, and as a pleasant "side-effect," add or more shareholders to the actual shareholder count.
No kids to set up UTMA/UGMA accounts? Then transfer at least one (1) share to an adult, making sure that it gets registered in his/her own name. Then, while you're at it, consider setting up a Joint Tenancy, Joint Tenants WROS (with rights of Survivorship), Tenancy in Common and/or Tenancy by the Entirety (depending on your state of residence) between you and at least one other adult to create yet more shareholders out of your 20, 50, 100 shares of stock currently in Street Name.
Feel free to get creative. After all, these are YOUR shares, and NOT Goldman's or anybody else's shares (although Goldman certainly acts as though this company is their personal b!tch).
I wholeheartedly encourage each and every shareholder of either of these Series of Preferred's to immediately order a certificate OUT of your brokerage account (e.g., Fidelity, Schwab, Merrill Lynch, Scottrade, TradeKing, etc), and as soon as you have received your physical stock certificate for your W2007 Grace Preferred(s), contact ComputerShare. I would be happy to provide any assistance to anybody that needs additional assistance in transferring shares OUT of Street Name, and INTO your own name.
Ps: one word of caution - different brokerage charge vastly different prices to issue a certificate in your name. You do not necessarily need a paper certificate; you could have your brokerage electronically register your shares in your name. I know that Fidelity charges around $100.00 to issue a paper certificate (although they will completely waive those fees depending on the assets you have Fido holding for you and/or the number of trades you do with them each year. Schwab charges $500.00 for a paper certificate - do NOT request a paper certificate through Schwab! Instead, ask Schwab to transfer shares to your name and ComputerShare will hold them electronically. Muriel Siebert & Co., charges NO FEES to send you a paper certificate, regardless of assets that you have with them. Siebert charges a bit more per trade (~ $15.00/trade), but it is really worth it when you consider the charges that Siebert does NOT impose to transfer shares into your name.
Any way, please feel free to ask any questions if you need help/assistance with this, and I'd be happy to try to help you as best as I can.
Nice to see you Chevy. Just bought 100 shares of this. Simply for entertainment. I hope its profitable but more importantly I want justice served. Add 1 more to the shareholder list.
Dr. James Angel submitted another letter, as of 5/7/14, to the SEC concerning the W2007 Acq. application to continue non-reporting. It is very interesting. To read it, just type 81-939 in the search box on the SEC site.
Questions Over Goldman Deal as Investors Sit in the Dark
By JESSE EISINGER
March 19, 2014
The “revolt of the Muppets” is heating up.
That’s how a Georgetown finance professor, James J. Angel, characterizes the combat by him and other investors over Goldman Sachs’s takeover of a hotel company a few years ago. (The phrase comes from a former Goldman employee, Greg Smith, who wrote that Goldman bankers referred to clients as the famous Henson puppets, a charge the bank disputed.)
The fight raises such a cornucopia of financial issues that it could shoulder an entire business school course. The holders of preferred stock in the company have taken to commenting to the Securities and Exchange Commission in outrage. Professor Angel accuses Goldman of multiple securities law violations. In essence, the question is: In these post-financial crisis days, what constitutes improper conflicts of interest?
First, some back story (and a friendly warning to readers: Goldman plays more roles in this than Joanne Woodward in “The Three Faces of Eve.”)
In 2007, a Goldman private equity fund called Whitehall took a company that runs franchised motels, like Residence Inn, private in a $2.2 billion transaction. It renamed the company W2007 Grace Acquisition. A Goldman entity, Goldman Sachs Mortgage Company, was the main lender for the leveraged buyout. Grace is run by current Goldman employees.
Goldman did not buy the publicly traded preferred shares, however. Instead, Grace went “dark,” as Floyd Norris explained last year. That meant it no longer filed financials with the Securities and Exchange Commission, a move allowed for companies with fewer than 300 shareholders. Grace delisted from the New York Stock Exchange and stopped paying dividends. It took other steps to make it difficult for anyone, including the preferred holders, to get any information about the company. Shareholders had to request the financials from the company and, at one point, had to pay 10 cents a page for the privilege of finding out how their investment was doing. They also had to sign a nondisclosure agreement.
All of this made it onerous for a shareholder to sell the stock to another investor. Not surprisingly, the preferred shares plummeted in value. They had a value of $25 a share, but sank to a low of 5 cents. (The real estate slump and the dividend cessation probably accelerated the drop, but the opacity surely hurt, too.)
In 2012 and 2013, a mysterious entity named PFD Holdings started buying those battered-down preferred shares. In 2012, PFD was paying $3 to a little more than $5 a share. Soon after, the preferred doubled in price, and now the shares trade at about $12. As of its last announcement, PFD owns 58 percent of the preferred shares. Nice trade!
So, what is PFD Holdings? Few outsiders really know because there’s little information out there about PFD. In Grace’s news releases, the company calls it a “sister company.” In other words, Goldman is ultimately behind PFD. I asked a former Goldman executive. He hadn’t heard of it but jokingly suggested the initials stood for Pretty Fishy and Dodgy. Well, in truth he used another “F” word, but you get the idea.
A Goldman spokeswoman wrote to me that “PFD acquired those shares in two privately negotiated transactions from two groups of shareholders who approached us to sell. Any assertion we acted inappropriately is unfounded.” She added, “The claims made by the preferred shareholders are without merit. They are a matter of ongoing litigation and we are defending ourselves vigorously. We have no further comment at this time.”
If all Goldman had done was take steps to suppress information about the shares to snap them up on the cheap, that might have been troubling enough. But just wait, there’s more.
For one, Grace has not filled spots for independent directors on its board. Grace has announced meetings to hold votes on those directors, but then said the meetings failed to reach quorums. In the latest attempt last August, Grace said it was delaying yet another special meeting to vote for seats. This time, the issue was that the mysterious PFD had told the company “of its intention to consider a tender offer“ for the remaining shares it did not own “later in 2013,” according to a Grace news release.
That was good timing because this one may just have reached a quorum, given all the angry preferred holders. And then, guess what? No tender offer materialized in 2013, and hasn’t yet.
Here’s another issue: In 2009, Goldman Sachs Mortgage forgave $545 million in Whitehall’s debt, receiving mainly an option to buy control of about 80 percent of most of Grace’s hotels. Grace was in trouble, and this may have saved the company.
In 2012, Goldman Sachs Mortgage sold that option back to Whitehall for $175 million. Were these deals, in which Goldman negotiated with Goldman, fair? There does not appear to have been any independent, third-party voices involved (Goldman had ceased to be the controlling lender in 2008 and says that Whitehall’s outside investors approved the 2009 transaction). The end result of these transactions is that Goldman’s Whitehall appears to have ended up recreating its ownership in most of the hotels at a cheap price. Also, some preferred holders fear their interest in the company has been subordinated to that of Goldman’s private equity fund.
So where does the Muppet Revolt stand? Grace may have to start making its financials public again, which could bring out more detail about Goldman’s various dealings with itself. An investment adviser from Wedbush Securities requested a shareholder list from the end of the year and tallied them up. In a letter he sent to the S.E.C., he says he counted 418 shareholders of record. That would be enough to revive the requirement to file financials.
Now we are in what Professor Angel calls the “Florida vote-counting” stage, trying to determine who should count as a “shareholder,” with Goldman’s lawyers battling against the preferred holders.
Another issue — I warned you that I was packing an entire semester into one column — is how this all comports with the Volcker Rule. Under the rule, banks are not allowed to own more than 3 percent of a private equity firm. They are not allowed to speculate in securities. But there is a merchant banking exemption that allows banks to take over companies directly on a temporary basis. Is PFD permitted by the Volcker Rule? It might be helpful if some regulator asked some pointed questions.
Speaking of which, where is the S.E.C. in all this? So far, the agency hasn’t been heard from on the question of how many shareholders there are or in response to any of the allegations from the preferred holders.
When deals like this go down, I feel like we are nation of Jake Gitteses, watching big bank deals with incomprehension. In “Chinatown,” the private detective asks the wealthy baron Noah Cross: “Why are you doing it? How much better can you eat? What could you buy that you can’t already afford?”
The scary thing about this Grace deal is that the money is so small (well, relative to Goldman, at least). The preferred shares amounted to about $146 million initially. It’s almost as if Goldman does it because it can.
http://dealbook.nytimes.com/2014/03/19/questions-over-goldman-deal-as-investors-sit-in-the-dark/?_php=true&_type=blogs&_r=0
Marker:
W2007 Grace Acquisit (WGCBP)
$17.25 0.0 (0.00%)
Volume: 0
An article by Jesse Eisinger was published in the DealBook section of the NY Times on 3/19/14. It was interesting and was critical of GS in regards to the W2007 preferred issues.
Something magical about $17.22?
A 12,000-share block of WGCBP and a 6,316-share block of WGCCP both move at the same price at 13:38.
FAQ was updated 3/28/14:
In the Company’s 2013 audited financial statements, Note 7 listing the Company’s notes payable references the “GE Mortgage.” In the Company’s financial statements for prior years, the list of notes payable referred instead to the “GSMC Mortgage.” Why was this change made?
In 2008, GE acquired from GSMC the controlling senior note position and the loan servicing rights for this loan. This change was made to avoid further confusion regarding the identity of the current controlling note holder and servicer of the loan.
http://www.equityinns.com/
WGCBP hits $19.00.
Hi Enterprising,
I'm a Dallas local, and wanted to ask you a couple of Q's re: WGCBP/WGCCP.
TIA,
David
Coppell [at] g mail
From Post #59
May 31, 2013;
Rising prices have caused some to sell.
Slow and steady accumulation. I am sure everything is going exactly to someone's plan.
I remain committed to the long haul.
I was able to unload some at Fidelity without a problem last fall...Zecco(tradeking) and TDA were like talking to brick walls.
Take a look at the following website for updates on the Grace Pref shareholder lawsuit:
http://www.chimicles.com/w2007-grace-acquisition-i-inc-preferred-shareholder-litigation
Specifically, the Opposition to Motion to Dismiss document that was posted today does a great job of framing the situation here in its entirety. It is very hard to understand how this has not received more front page press given Goldman's involvement - this has elements that make every internal/legal team cringe including breach of fiduciary responsibility and self-dealing - these are crushing allegations that could turn the entire institution on its head when you think about the dishonesty and illegal maneuvers alleged. This further strengthens the logic that they will use this refinance as an opportunity to likely clean-up the preferreds and probably settle the lawsuit. No astute world-class financial institution would risk this level of reputational damage to grand-stand for what they purportedly believe to be their legal rights in this day in age. For such a small sum of money in the grand scheme of things, no less.
Thanks for the quick response "P".
It is not the account custodian that is the problem.
The Grace Preferred is the B pfd and for some reason it was designated as 144 stock. That means it has a restrictive legend that has to be removed before the shares can be delivered in good order.
Computershare is the transfer agent.
They acknowledge that there is 144 grace Pfd. stock.
They do not know the who ,what, where, when how and why?
They have a blanket legal opinion from the company which will permit the removal of the restrictive legend.
My custodian needs to deliver the CERT to Computershare and they will process and return a clean cert that can be delivered in good order should I sell.
Calling Grace Acq. is futile. They do not return phone calls.
Was wondering if anyone was familiar with the 144 restrictive legend. I am at a loss as to why this was done.
Thanks again
The Tip
Followers
|
11
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
343
|
Created
|
08/26/11
|
Type
|
Free
|
Moderators |
W2007 Grace Acquisition I, Inc.
6011 Connection Drive
Irving, TX 75039
Grace Acquisition I, Inc. is the result of the October 25, 2007 acquisition of Equity Inns, Inc. The company owned 111 hotels at closing.
The aggregate purchase price paid for all of the equity securities was approximately $2.2 billion, including assumed debt, which purchase price was funded by the equity financing from Whitehall Street Global Real Estate Limited Partnership 2007. Goldman Sachs provided financing in the aggregate principal amount of $1.8 billion.
Each share of common stock was converted into the right to receive $23.00, without interest, and (ii) each share of 8.75% Series B Cumulative Preferred Stock and 9.00% Series C Cumulative Preferred Stock of the Company outstanding immediately prior to the effective time of the Merger was converted into the right to receive one share of 8.75% Series B Cumulative Preferred Stock (WGCBP) and 9.00% Series C Cumulative Preferred Stock (WGCCP), respectively.
There are 3.45 million shares of 8.75% Series B Cumulative Preferred Stock and 2.4 million shares of 9.00% Series C Cumulative Preferred Stock outstanding.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |