Terms

Series

6.75% Series A Cumulative Redeemable Preferred Stock

Liquidation Preference

$25.00

Coupon Rate

6.75%

Rate Type

Fixed

Annual Dividend

$1.69

Payment Frequency

Quarterly

Cumulative

Yes

Perpetual

Yes

Convertible

Yes

Callable

Yes

First Call Date

September 22, 2026

First Call Price

$25.00

Redemption Notice Period

30 days

Capital Stack Ranking

Junior To: Any Capital Stock Designated As Senior Stock, All Debt Obligations Of The Company; Pari Passu With: Any Capital Stock Designated As Parity Stock; Senior To: All Classes And Series Of Common Stock, Any Capital Stock Designated As Junior Stock

Regulatory (Basel III) Call

No

Tax Classification

Reit Passthrough

Qualifies for QDI

No

Qualifies for DRD

No

Shares Offered

3,500,000

Prospectus Summary

InPoint Commercial Real Estate Income, Inc., a non-traded externally managed REIT focused on floating-rate commercial real estate debt, is issuing 3,500,000 shares of its 6.75% Series A Cumulative Redeemable Preferred Stock at a $25.00 liquidation preference, generating $1.6875 per share annually ($0.421875 quarterly) at the initial fixed rate. The stock is callable at par on or after September 22, 2026. Importantly, dividends are cumulative — meaning any missed payments accrue and must be paid in full before any distributions can be made to common stockholders, providing a meaningful layer of income protection for holders. The Series A Preferred Stock sits above all classes of InPoint's common stock and any designated junior stock in both dividend priority and liquidation preference, but ranks junior to all debt obligations and any future senior-designated capital stock. Because InPoint operates primarily through its Operating Partnership subsidiary and has no direct employees, this is a holding-company-level issuance, meaning preferred holders are structurally subordinated to operating-subsidiary creditors. There is no formal Tier 1 regulatory capital call provision; however, the issuer retains the right to redeem shares in limited circumstances to preserve REIT qualification. At the $25.00 offering price, the Series A Preferred Stock yields 6.75% annually, payable quarterly on or about March 30, June 30, September 30, and December 30. As a REIT issuer, dividends will generally be characterized as ordinary income (not qualifying for the 15%/20% QDI rate available to corporate C-corp dividends), though the exact tax character will depend on InPoint's earnings and profits each year. No explicit dividend stopper covenant was identified, but if six quarterly dividends are unpaid (consecutive or not), holders gain the right to elect two additional directors. Additionally, the dividend rate can step up upon a Change of Control (by 1.00%), a credit Downgrade Event (by 0.25% per event, capped at 10.00%), or if shares remain outstanding after September 22, 2026 (by 1.00% per year, subject to the 10.00% cap).

Summarized from the SEC prospectus filing.

Distribution History

Conversion Terms

Ranking vs. Other Preferreds

Dividend Stopper Provisions

Dividend Stopper Description

No explicit dividend stopper language found in the provided text; if six quarterly dividends are missed (whether or not consecutive), preferred holders gain the right to elect two additional board directors.

Div Score Breakdown

Reinvesty's multi-factor safety analysis for this preferred, composite score: 44 (Average)