Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Jamba Shareholders Finish Converting Preferred Shares

One of Jamba's (NASDAQ: JMBA  ) shareholders, CanBa Investments LLC, has converted the remainder of its preferred shares into common stock, the company announced Tuesday, which means Jamba no longer has to pay the annual 8% expense for its dividend.

In June 2009, CanBa purchased $15.45 million worth of shares (134,348 shares) in Jamba's Series B-2 Preferred Stock. That 2009 purchase coincided with Mistral Equity Partners buying $19.55 million worth of Jamba's preferred stock, which Mistral converted to common stock in January 2013, according to Jamba.

Jamba CEO James D. White was quoted as saying, "The investment in 2009 allowed us greater financial flexibility to execute our BLEND Plan and also provided us great support and guidance from CanBa and Mistral. We thank them for their time and look forward to their continued guidance as we continue to focus on our BLEND Plan 3.0 strategic priorities."


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2498088, ~/Articles/ArticleHandler.aspx, 10/1/2016 3:06:14 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 17 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 4:00 PM
JMBA $10.92 Up +0.09 +0.83%
Jamba CAPS Rating: **