Farmland Partners Inc (NYSE:FPI)
$ 11.19 0.05 (0.45%) Market Cap: 538.99 Mil Enterprise Value: 868.61 Mil PE Ratio: 21.94 PB Ratio: 1.05 GF Score: 65/100
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Farmland Partners Inc Investor Update Call Transcript

Sep 30, 2021 / 04:30PM GMT
Release Date Price: $11.99 (-0.33%)
Operator

Good day, and welcome to the Farmland Partners Inc. investor update conference call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Paul Pittman, Chairman and Chief Executive Officer.

Paul A. Pittman
Farmland Partners Inc. - Executive Chairman, President & CEO

Great. Thank you very much, and thank you all for joining us today. This is a conference call focused on the conversion of the Preferred Series B that we just announced a couple of days ago and the effects of that conversion on the company and the company's outlook.

So first, just quickly summarizing what we did, although I'm sure all of you are aware, we converted approximately $155 million of Series B Preferred into common equity. That common equity will start trading next week. And each holder of the preferred will get just over 2 shares of common equity for each share of the preferred that they had. That increases our total share count by approximately 12.1 million additional shares.

So with those

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