Examples of Proposed Organizational Documents in a sentence
The Proposed Organizational Documents differ in certain material respects from the Cayman Constitutional Documents and SCH encourages shareholders to carefully review the information set out in the section entitled “Organizational Documents Proposals” and the full text of the Proposed Organizational Documents of SoFi Technologies.
See Article Fifth, subsection (B) of the Proposed Certificate of Incorporation.The Proposed Organizational Documents provide that the Board be divided into three classes with only one class of directors being elected in each year and each class serving a three-year term.See Article 29 of the Existing Articles.
Accordingly, regardless of the outcome of the non-binding advisory vote on the Advisory Organizational Documents Proposals, NAAC intends that the Proposed Organizational Documents will take effect upon the SPAC Merger Closing (assuming approval of the Organizational Documents Proposal).Recommendation of the NAAC BoardTHE NAAC BOARD RECOMMENDS THAT NAAC SHAREHOLDERS VOTE “FOR” THE APPROVAL OF THE ADVISORY ORGANIZATIONAL DOCUMENTS PROPOSALS.
The Proposed Organizational Documents differ in certain material respects from the Existing Organizational Documents and we encourage shareholders to carefully consult the information set forth in the section entitled “Shareholder Proposal 6: The Organizational Documents Proposals” and the full text of the Certificate of Incorporation and Bylaws of the Company, attached hereto as Annex C and Annex D, respectively.
This summary is qualified by reference to the complete text of the Proposed Organizational Documents, copies of which are attached to this proxy statement/prospectus as Annex B and Annex C.
The Proposed Organizational Documents differ materially from the Memorandum and Articles of Association.
The Proposed Organizational Documents increase the total number of authorized shares to 501,000,000 shares, consisting of 500,000,000 shares of New Holdco Common Stock and 1,000,000 shares of New Holdco Preferred Stock.See Article IV of the Proposed Certificate of Incorporation.
See paragraph 8 of the Memorandum and Articles of Association.The Proposed Organizational Documents authorize shares, consisting of 690,000,000 shares of Domestication Class A Common Stock, 275,000,000 shares of Domestication Class V Common Stock and 10,000,000 shares of New Rubicon preferred stock.
Because the Proposed Organizational Documents provide that the New Bird Board will be classified in the same way as the Switchback Board under the Existing Organizational Documents, and so no substantive change is being made to the Existing Organizational Documents in this respect, the Company has not presented this provision to Switchback shareholders as an Advisory Organizational Document Proposal.
The Proposed Organizational Documents authorize the board of Existing Organizational Documents Proposed Organizational DocumentsStockholder Consent (Organizational Documents Proposal B)of 1,000,000 preferred shares with such designation, rights and preferences as may be determined from time to time by our board of directors.