Examples of Common Stock Increase in a sentence
The results of the Special Meeting and the filing of the New Certificate of Incorporation, including the Common Stock Increase Amendment, were all disclosed publicly, and actions have been taken in reliance thereon.
Namely, the Company seeks to validate the New Certificate of Incorporation (including the Common Stock Increase Amendment defined below), as well as all shares of the Company’s capital stock issued in reliance on the validity of the New Certificate of Incorporation.
Under that view, the Common Stock Increase Amendment would have required a separate vote of the Class A Common Stock.
Subject to Section 6(d), each share of Series C Preferred Stock shall be convertible, at any time and from time to time only after the Authorized Common Stock Increase Date, at the option of the Holder thereof, into that number of shares of Common Stock determined by dividing the Stated Value of such share of Series C Preferred Stock by the Conversion Price.
Subject to Section 6(d), each share of Series D Preferred Stock shall be convertible, at any time and from time to time only after the Authorized Common Stock Increase Date, at the option of the Holder thereof, into that number of shares of Common Stock determined by dividing the Stated Value of such share of Series D Preferred Stock by the Conversion Price.
As mentioned above, this Court’s recent decision in Boxed calls into question the validity of the Common Stock Increase Amendment and the New Certificate of Incorporation.
The 2021 Proxy Statement explained to the stockholders that the reason for the Common Stock Increase Amendment was that: [I]t is important for us to have available for issuance a number of authorized shares of common stock and preferred stock sufficient to support our growth and to provide flexibility for future corporate needs (including, if needed, as part of financing for future growth acquisitions).
As a result, the Company believed that the New Certificate of Incorporation and the Common Stock Increase Amendment effected thereby had received the requisite stockholder approval.
The Company proposed the Common Stock Increase Amendment in anticipation of issuing additional shares of Common Stock.
ACRL, Information Literacy Competency Standards for Higher Education, January 18, 2000, available at http://www.ala.org/ala/acrl/acrlstandards/standards.pdf.