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Subsequent Events
3 Months Ended
Sep. 30, 2020
Subsequent Events  
Subsequent Events

Note 12. Subsequent Events

On October 12, 2020, the Company announced that its Board of Directors declared a cash dividend of $2.30 per share on the Series C Preferred Stock (see Note 3). The dividend is for the period commencing on July 31, 2020 through October 30, 2020, and is payable on November 2, 2020 to holders of record as of October 30, 2020.

On October 27, 2020, the Company completed the sale of unsecured senior notes in a public offering for an aggregate principal amount of $60,000,000, which represented 100% of the principal amount. The unsecured senior notes were issued in minimum denominations of $25 and integral multiples of $25 in excess thereof, bear interest at the rate of 7.875% per annum and mature on October 31, 2025. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional $9,000,000 in aggregate principal amount of the unsecured senior notes to cover overallotments, if any. The Company intends to list the unsecured senior notes on the NASDAQ Global Market under the symbol “GFNSZ” and to use the net proceeds to redeem a portion of the outstanding principal amount of the Senior Notes (see Note 5).