Mandatorily Redeemable Preferred Stock ("Series B Preferred Stock")

12 Months Ended

Dec. 31, 2012

Mandatorily Redeemable Preferred Stock ("Series B Preferred Stock")

Mandatorily Redeemable Preferred Stock ("Series B Preferred Stock")

NOTE 17. Mandatorily Redeemable Preferred Stock ("Series B Preferred Stock")

        On September 28, 2010, the Company redeemed all of the issued and outstanding shares of its Series B Preferred Stock at a redemption price of approximately $26.6 million, representing par value plus all unpaid dividends accruing subsequent to June 30, 2010 (the last payment date), multiplied by a premium call factor of 1.035. In connection with this redemption, the Company recorded a loss on extinguishment of approximately $1.6 million, which included the impact of the premium call factor and the write-off of the remaining discount and deferred financing costs related to the Series B Preferred Stock.