EQUITY STOCK. Each share of Equity Stock, $2.50 par value per share, of the North Dakota Cooperative issued and outstanding immediately prior to the Effective Time shall cease to be outstanding and shall be exchanged for one (1) share of Equity Stock, $2.50 par value per share, of Colorado Cooperative.
EQUITY STOCK. Each share of Equity Stock, $2.50 par value per share, standing on the books of Colorado Cooperative and held by members of Colorado Cooperative immediately prior to the Effective Time shall cease to be outstanding and shall be exchanged for one (1) share of Common Stock, $.01 par value per share, of Colorado Corporation and one (1) share of Series D Non-Cumulative Delivery Preferred Stock, $.01 par value per share, of Colorado Corporation.
EQUITY STOCK. No Equity Stock has been issued or transferred by any member of the NESR Group or agreed to be issued or transferred by NESR for a price that is less than $10 per Equity Stock, and NESR has not issued or agreed to issue any instrument that is convertible into, or exercisable or exchangeable for, or which gives the right to subscribe for, Equity Stock or that entitles its holder to be issued or subscribe for Equity Stock for a price that is less than $10 per Equity Stock.
