Company: DBRG
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001679688-25-000043
Chunk: 22

Company: DigitalBridge Group, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 22
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 prepaid; or 1% of the outstanding principal of such Class A-2 Note that is being prepaid in connection with a disposition of collateral. The Indenture of the Series 2021-1 Notes contains various covenants, including financial covenants that require the maintenance of minimum thresholds for debt service coverage ratio and maximum loan-to-value ratio, as defined. As of the date of this filing, the Co-Issuers are in compliance with all of the financial covenants.Exchangeable Senior NotesIn the first half of 2024, the remaining 5.75% exchangeable senior notes issued by the OP with an outstanding principal of $78.4 million were extinguished, of which $73.4 million was exchanged for 8.2 million shares of the Company's class A common stock, and $5.0 million was redeemed for cash. In connection with the exchange, shares of class A common stock were issued in reliance on Section 4(a)(2) of the Securities Exchange Act of 1933, as amended.

7. Stockholders' EquityThe table below summarizes the share activities of the Company's preferred stock and common stock.Number of Shares(In thousands)Preferred StockClass A Common StockClass B Common StockShares outstanding at December 31, 202332,876 163,209 166 Exchange of notes for class A common stock— 673 — Shares issued upon redemption of OP Units— 85 — Settlement of Wafra contingent consideration (1)— 1,020 — Equity awards issued, net of forfeitures— 1,465 — Shares canceled for tax withholding on vested equity awards— (400)— Shares outstanding at March 31, 202432,876 166,052 166 Shares outstanding at December 31, 202432,876 174,202 150 Shares issued upon redemption of OP Units — 13 — Equity awards issued, net of forfeitures— 2,391 — Shares canceled for tax withholding on vested equity awards— (512)— Shares outstanding at March 31, 202532,876 176,094 150 __________(1)    In connection with the 2022 redemption of Wafra's investment in the Company's investment management business, contingent consideration was payable to Wafra based upon the Company achieving certain fundraising targets through December 31, 2023. The contingent amount was fully