I owned some shares of QTS preferred A series stock. When Blackstone acquired QTS I assumed the stock would simply transfer to a new issue via Blackstone. It appears instead that I simply am unable to trade the shares I own, at least that's how it appears in my Fidelity account. From the announcement today:
Following the closing of its acquisition on August 31, 2021 by affiliates of Blackstone Infrastructure Partners, Blackstone Real Estate Income Trust, Inc. and Blackstone Property Partners, QTS Realty Trust ("QTS") announced that holders of its 6.50% Series A Cumulative Convertible Perpetual Preferred Limited Liability Company Units (the "New Series A Preferred Units") will have the right, until the close of business on October 14, 2021, to convert each New Series A Preferred Unit into $172.84 in cash. Thereafter, holders of New Series A Preferred Units will have the right to convert each unit into $167.40 in cash. At the closing of the acquisition, each outstanding share of QTS 6.50% Series B Cumulative Convertible Perpetual Preferred Stock was automatically converted into one New Series A Preferred Unit.
Additional information regarding the conversion is included in a notice of occurrence of a fundamental change that has been distributed to holders of New Series A Preferred Units. Holders who wish to convert their New Series A Preferred Units should contact their broker, bank or other nominee. Computershare is serving as the conversion agent and can be contacted at c/o Computershare, Voluntary Corporate Actions, 150 Royall Street Suite V, Canton, MA 02021 or [redacted email]
It appears I should be able to convert the shares to cash but Fidelity seems not to be able to handle that, at least not via the app. Does anyone know the way to go about this?
Submitted September 01, 2021 at 01:03PM by stevensonmt https://ift.tt/3kIH207
