Examples of Original Series B Preferred Stock in a sentence
The Board previously adopted resolutions on May 20, 2019 authorizing the creation and issuance of a series of such preferred stock designated as the “Series B Preferred Stock” and authorizing the issuance of 50,000 shares of Series B Preferred Stock (the “ Original Series B Preferred Stock”) and the Certificate of Designations for the Original Series B Preferred Stock was filed with the Secretary of State of the State of Delaware on May 20, 2019 (the “Original Certificate of Designations”).
Each outstanding share of Original Series B Preferred Stock shall earn dividends equal to 6% per annum of its Series B Original Issue Price (as defined Section 1.1, above), payable in cash or, at the Corporation’s option, in additional shares of Series B Preferred Dividend Stock valued at the Series B Original Issue Price.
The Exchange Date is referred to herein at the “Original Issue Date.” On the Original Issue Date all of the shares of Original Series B Preferred Stock will issued at an original issue price of One Dollar ($1.00) per share (the “Series B Original Issue Price”).
As a result, the aggregate liquidation preference of the Original Series B Preferred Stock as of September 30, 2005, and of the redesignated Series B Preferred Stock issued in exchange therefor, shall be $603,570,000 and dividends on the Series B Preferred Stock shall accrue thereafter at the rate of 11% per annum on such amount.
The Original Series B Preferred Stock previously created out of the authorized and unissued shares of Preferred Stock of the Corporation is hereby redesignated as “11% Series B Convertible Exchangeable Preferred Stock.” The number of shares constituting such class as of the Issue Date shall be 60,607 and are referred to as the “Series B Preferred Stock.” The “Liquidation Preference” of the Series B Preferred Stock shall be $10,000 per share.
Number of Shares Issuable Upon Conversion Each share of Series B Preferred Stock shall be convertible into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the Original Series B Preferred Stock Issue Price by the Conversion Price at the time in effect for such series.
The date of the Closing is referred to herein at the “ Original Issue Date.” On the Original Issue Date all of the shares of Original Series B Preferred Stock will issued at an original issue price of One Dollar ($1.00) per share (the “Series B Original Issue Price”).
The Original Series B Preferred Stock previously created out of the authorized and unissued shares of Preferred Stock of the Corporation is hereby redesignated as "11% Series B Convertible Exchangeable Preferred Stock." The number of shares constituting such class as of the Issue Date shall be 60,607 and are referred to as the "Series B Preferred Stock." The "Liquidation Preference" of the Series B Preferred Stock shall be $10,000 per share.
Each share of Series B Preferred shall be convertible into that number of fully-paid and nonassessable shares of Common Stock that is equal to the Original Series B Preferred Stock Issue Price divided by the Series B Conversion Price (as hereinafter defined).