Great Ajax Corp 7.25% Convertible Senior Notes (AJXA) are a type of bond issued by Great Ajax Corp, a publicly traded real estate investment trust (REIT). The notes were issued in 2019 and have a face value of $1,000 per note. AJXA pays a fixed interest rate of 7.25% per year and matures on August 1, 2024.
One unique feature of AJXA is that they are convertible into common stock of Great Ajax Corp at a conversion price of $18.88 per share. This means that investors have the option to convert their notes into common stock at any time before maturity, subject to certain conditions.
AJXA is traded on the New York Stock Exchange under the symbol "AJXA". As with any bond, the price of AJXA may fluctuate based on market conditions and changes in interest rates. Additionally, the price of AJXA may also be affected by changes in the price of Great Ajax Corp's common stock, as the notes are convertible into shares of the company. Investors interested in purchasing AJXA should carefully consider their investment goals, risk tolerance, and financial situation before making any investment decisions. Additionally, AJXA may be subject to risks related to the real estate industry, including changes in interest rates, economic conditions, and regulatory policies.
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