Examples of PubCo Class B Common Stock in a sentence
Notwithstanding Section 3.3 and Section 3.4, no distribution of Xxxxxxx Minerals Holdings Units (or corresponding shares of PubCo Class B Common Stock) shall be made to the extent such distribution would not be permissible pursuant to any provision of the Xxxxxxx Minerals Holdings A&R LLC Agreement.
Each share of Old PubCo Class B Common Stock issued and outstanding immediately prior to the Effective Time shall be converted into one validly issued, fully paid and nonassessable share of New PubCo Class B Common Stock.
Notwithstanding the foregoing, Sponsor may elect to Transfer up to 3,000 shares of PubCo Class B Common Stock to PubCo for cancellation by PubCo in connection with the issuance of up to the same number of shares of PubCo Class A Common Stock by PubCo to a consultant engaged by PubCo.
Reflects the recapitalization of LGM in connection with the Closing of the Business Combination and the issuance of 60,000,000 shares of PubCo Class B Common Stock.
Each share of (i) Old PubCo Class A Common Stock held in Old PubCo’s treasury shall be converted into one validly issued, fully paid and nonassessable share of New PubCo Class A Common Stock and (ii) Old PubCo Class B Common Stock held in Old PubCo’s treasury shall be converted into one validly issued, fully paid and nonassessable share of New PubCo Class B Common Stock, in each case, to be held immediately after completion of the Merger in the treasury of New PubCo.
While PubCo determines whether redemption settlement is for cash or shares, settlement is not considered within the sole control of PubCo as the holders of PubCo Class B Common Stock will designate a majority of the members of the PubCo Board.
Sponsor and the Company have agreed to certain items with respect to the treatment of the shares of PubCo Class B Common Stock held by Sponsor in the transactions contemplated by the BCA.
In accordance with the DGCL, no appraisal rights shall be available to any record or beneficial owner of shares of Old PubCo Class A Common Stock or Old PubCo Class B Common Stock in connection with the Merger.
As such, a separate presentation of basic and diluted earnings per share of PubCo Class B Common Stock under the two-class method has not been presented.
Each share of PubCo Class B Common Stock entitles its holder to one vote per share but no right to dividends or distributions.