Parent Preferred Stock definition
Examples of Parent Preferred Stock in a sentence
Any fractional shares of Parent Preferred Stock will be rounded down to the nearest one ten-thousandth of a share, with no additional consideration paid for any fractional shares eliminated due to rounding.
For the avoidance of doubt, the aggregate number of Parent Common Stock Payment Shares and Parent Preferred Stock Payment Shares (on an as converted basis) to be issued as Merger Consideration shall be equal to 42% of the outstanding capital stock of Parent immediately following the Merger and as set forth on the Allocation Certificate.
Subject to Section 1.06(c), each holder of Company Common Stock shall be entitled to receive the same proportion of Parent Common Stock Payment Shares and Parent Preferred Stock Payment Shares.
Any fractional shares of Parent Preferred Stock that a holder of Company Preferred Stock would otherwise be entitled to receive shall be aggregated with all fractional shares of Parent Preferred Stock issuable to such and any remaining fractional shares shall be, in lieu of such fractional share and upon surrender by such holder of a letter of transmittal in accordance with Section 2.7 and any accompanying documents as required therein, rounded up to the nearest whole share of Parent Preferred Stock.
No shares of Parent Preferred Stock have been issued and are outstanding as of the Capitalization Date.