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DigitalBridge’s Series H, I and J preferred shares are expected to stop trading on the NYSE before the market opens on October 5, 2026. The delisting does not, by itself, cancel the shares or require holders to convert them. A separate change-of-control conversion right is available under each series’ terms, and the deadlines and procedures differ by series.
What the NYSE delisting means for your shares
DigitalBridge announced that it had filed Form 25s to withdraw its 7.125% Series H, 7.15% Series I and 7.125% Series J cumulative redeemable perpetual preferred stock from NYSE listing. In its September 30, 2026 Form 8-K, the company said trading was expected to end before the market opened on October 5. As of October 3, that date was still in the future.
The company said it had not arranged a listing on another national securities exchange or a quotation medium. It also said the preferred-stock terms and conditions would remain unchanged after delisting. Delisting ends NYSE trading; it does not itself extinguish ownership. Any shares that are not converted remain outstanding under the surviving corporation’s charter, subject to the applicable terms.
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No automatic conversion or payment follows merely from the delisting. The merger with a SoftBank Group affiliate closed on September 30, 2026, triggering a change-of-control conversion right for each series, subject to that series’ terms. The amounts disclosed by DigitalBridge are cash conversion consideration per share—not current market prices and not a promise that every holder will automatically receive cash.
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The surviving corporation may choose to redeem shares before that series’ conversion date. Shares selected for redemption would not be convertible under the described change-of-control right. For shares not redeemed, holders should use the actual notice for their series to determine whether and how to make an election.
Series-by-series conversion details
| Series | Annual rate | Disclosed cash conversion amount per share | Notice and deadline information as of October 3, 2026 |
|---|---|---|---|
| H (DBRG.PRH) | 7.125% | $11.28 | DigitalBridge said in its September 30 Form 8-K that it intended to send the notice on October 7. The series-specific deadline had not yet been announced in the issuer materials available as of October 3. |
| I (DBRG.PRI) | 7.15% | $14.43 | DigitalBridge’s October 1 announcement said holders could convert through close of business October 22, 2026. |
| J (DBRG.PRJ) | 7.125% | $15.16 | DigitalBridge said in its September 30 Form 8-K that it intended to send the notice on October 14. The series-specific deadline had not yet been announced in the issuer materials available as of October 3. |
DigitalBridge said each series’ conversion date would be identified in its notice and would fall on a business day 20 to 35 days after the notice date. That general window does not replace the notice’s detailed procedures or establish the same election deadline for all three series.
What Series I holders should do before October 22
For Series I, DigitalBridge announced a right to convert each share into $14.43 cash through close of business on October 22, 2026. The company identified Equiniti Trust Company as conversion agent and instructed holders who wish to convert to contact their broker, bank or other nominee. Follow the instructions and timing provided by the intermediary that holds your shares; do not assume that contacting the conversion agent alone completes an election.
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DigitalBridge’s September 30 filing said it intended to send the Series H notice on October 7 and the Series J notice on October 14. As of October 3, the detailed notices and their series-specific election deadlines had not yet been released in the issuer materials available. Do not use Series I’s October 22 cutoff as the deadline for H or J.
When your series’ notice arrives, check its conversion date, election deadline, required instructions and whether any shares have been selected for redemption. Contact your broker, bank or nominee promptly if you are considering an election, and ask how it handles the notice and what cutoff it applies. The issuer’s notice controls the individual procedures.
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How to approach a decision
- If you want to consider conversion: review the notice for the series you own and contact your broker, bank or nominee promptly about its process and cutoff.
- If you do not elect conversion: do not assume the shares are automatically cancelled; unconverted shares remain outstanding under the surviving corporation’s charter, unless affected by a separate action such as redemption.
- If you were relying on NYSE trading: account for the fact that the issuer said no alternate exchange listing or quotation medium had been arranged. The materials do not establish that an alternative market will be available after NYSE trading stops.
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