Preferred dividend burden on Cellebrite preferred stock
First written in FY2020. 4 of 7 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2022-Q3.
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- FY2022-Q3RestatedAnnual report
「Our consolidated subsidiary Cellebrite DI Ltd. (hereinafter, “Cellebrite”) issued preferred shares, whose holders were entitled to an annual preferred dividend of 13.75%. In connection with its listing on the Nasdaq Stock Market in the United States on 30 August 2021, these shares were converted into common shares, resulting in the termination of the entitlement to preferred dividends. Accordingly, as of 31 December 2021, there were no potential cumulative unpaid preferred dividends.」
Cellebrite’s preferred shares were converted into common shares following its Nasdaq listing, reconfirming that potential cumulative unpaid preferred dividends were zero. - FY2022-Q2MitigatedAnnual report
「Following Cellebrite DI Ltd.’s listing on the Nasdaq Stock Market in the United States on 30 August 2021, the condition providing for the termination of the entitlement upon the occurrence of certain anticipated future events was satisfied. Accordingly, as of 30 September 2021, there were no potential cumulative unpaid preferred dividends.」
Cellebrite’s Nasdaq listing satisfied the condition for the termination of the annual 13.75% preferred dividend entitlement, reducing potential cumulative unpaid preferred dividends from ¥3,075 million to zero. - FY2022-Q1WorsenedAnnual report
「As of 30 June 2021, potential cumulative unpaid preferred dividends amounted to ¥3,075.471 million.」
Regarding the annual 13.75% preferred dividend entitlement, potential cumulative unpaid preferred dividends increased from ¥2,660 million at the end of the previous fiscal year to ¥3,075 million. - FY2021WorsenedAnnual report
「As of 31 March 2021, potential cumulative unpaid preferred dividends amounted to ¥2,660.465 million.」
Regarding the annual 13.75% preferred dividend entitlement, potential cumulative unpaid preferred dividends increased from the previous ¥2,095 million to ¥2,660 million. - FY2021-Q3WorsenedAnnual report
「As of 31 December 2020, potential cumulative unpaid preferred dividends amounted to ¥2,095.842 million.」
Regarding Cellebrite DI Ltd.’s annual 13.75% preferred dividend, potential cumulative unpaid preferred dividends increased from the previously reported ¥1,742.360 million to ¥2,095.842 million. - FY2021-Q2WorsenedAnnual report
「As of 30 September 2020, potential cumulative unpaid preferred dividends amounted to ¥1,742.360 million.」
The company reiterated the annual 13.75% preferred dividend entitlement on Cellebrite DI Ltd.’s preferred shares. Potential cumulative unpaid preferred dividends increased from ¥969.233 million at the end of March 2020 to ¥1,742.360 million. - FY2020First statedAnnual report
「The holders of these shares are entitled to an annual preferred dividend of 13.75%, but the terms provide that this entitlement will cease if certain events expected to occur in the future take place. As of 31 March 2020, potential cumulative unpaid preferred dividends amounted to ¥969.233 million.」
The company disclosed an annual preferred dividend entitlement of 13.75% on Cellebrite’s preferred shares and potential cumulative unpaid preferred dividends of ¥969.233 million as of 31 March 2020, identifying potential effects on its financial position and cash flows as a risk.