Examples of Series 3 Class A Preferred Shares in a sentence
For purposes of the forgoing, the “Charter” shall mean the Articles of Amendment of the Company, as amended and /or restated and effective immediately prior to the redemption or conversion of all of the Company’s Series 3 Class A Preferred Shares.
West, Suite 820, Montreal, Quebec QC H3B 1P5, Canada, or such other office as the Company shall notify the Holder of in writing, to purchase from the Company the Initial Number of fully paid and non-assessable Series 3 Class A Preferred Shares, without par value, of the Company (the “Shares”), as determined below, at a purchase price per Share as specified below (the “Exercise Price”).
The annual dividend rate for the Series 1 Class A Preferred Shares for the five-year period from and including December 1, 2023 to, but excluding, December 1, 2028 is 6.525 percent.Subsequent to the end of the year, on February 15, 2024, none of the six million Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 3 ("Series 3 Class A Preferred Shares") outstanding were converted into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 4.
As at December 31, 2020, there were nil Class A Preferred Shares [2019 – 1,620,743 Series 4 Class A Preferred Shares, 2,126,911 Series 3 Class A Preferred Shares, 1,473,406 Series 2 Class A Preferred Shares and 2,402,608Series 1 Class A Preferred Shares] as all issued and outstanding Class A Preferred Shares were converted into Common Shares on a one-for one basis upon completion of the IPO.
In addition, the Company issued 2,126,911 Series 3 Class A Preferred Shares and 1,620,743 Series 4 Class A Preferred Shares for $12,000, for which transaction costs of $668 were recognized directly in equity.
During the year ended December 31, 2019, the Company entered into a commercial agreement with a shareholder that exercises significant influence in which the Company agreed to issue warrants at an exercise price of $3.202 per share to acquire Common Shares, Series 3 Class A Preferred Shares or Series 4 Class A Preferred Shares, which, when exercised would represent 2.5% of the equity of the Company at the time of exercise.