Prospectus excerpt: We are offering 1,800,000 shares of our 9.25% Series B Cumulative Preferred Stock, par value $0.001 per share, which we refer to in this prospectus supplement as the Series B Preferred Stock. We will pay cumulative dividends on the Series B Preferred Stock from, but excluding, the date of original issuance in the amount of $2.3125 per share each year, which is equivalent to 9.25% of the $25.00 liquidation preference per share. However, if the Series B Preferred Stock is not subject to a ônational market listing,ö as defined in this prospectus supplement, or if we fail to pay cash dividends on the outstanding Series B Preferred Stock in full for any four consecutive or non-consecutive quarters, investors will be entitled to receive cumulative cash dividends at the increased rate of 12.00% per annum of the $25.00 liquidation preference (equivalent to $3.00 per annum per share) as outlined in this prospectus supplement. Dividends on the Series B Preferred Stock will be payable quarterly in arrears, beginning on September 30, 2006.
Investors in our Series B Preferred Stock generally will have no voting rights but will have limited voting rights if we fail to pay dividends for four or more quarters and under certain other circumstances, which are described in this prospectus supplement under ôDescription of Series B Preferred Stock û Voting Rights.ö
We may not redeem the Series B Preferred Stock before September 30, 2011, except as described below. On or after September 30, 2011, we may, at our option, redeem the Series B Preferred Stock, in whole or in part, by paying $25.00 per share, plus any accrued and unpaid dividends to the redemption date. If at any time a ôChange of Ownership or Control,ö as defined in this prospectus supplement, occurs, we will redeem or, in the event we are acquired by a ôQualifying Public Company,ö such Qualifying Public Company will have the right to redeem, the Series B Preferred Stock, in whole but not in part, within 90 days after the date on which the Change of Ownership or Control has occurred at specified redemption amounts, as set forth in this prospectus supplement, as of the redemption date. Our Series B Preferred Stock has no stated maturity, will not be subject to any sinking fund or other mandatory redemption and will not be convertible into any of our other securities.