Examples of Series B Convertible Preferred Stock in a sentence
If any shares of Preferred Stock shall be converted, redeemed or reacquired by the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series B Convertible Preferred Stock.
Series B Convertible Preferred Stock can only be issued to Company directors.
Every shareholder of record of Common Stock and Series B Convertible Preferred Stock of the Company shall be entitled at every meeting of such shareholders to one vote for every share of Common Stock and Series B Convertible Preferred Stock, respectively, standing in his or her name on the record of shareholders.
No fractional shares of Common Stock or scrip shall be issued upon conversion of shares of Series B Convertible Preferred Stock.
The terms of the Series B Convertible Preferred Stock are as follows: (i) Dividends – At issuance, there are no dividends due or payable on the Series B Convertible Preferred Stock.