Examples of Series A Senior Preferred Stock in a sentence
Of the authorized preferred stock, PDI Therapeutics designated 1,999,998 shares as Series A Junior Preferred Stock, 652,371 shares as Series A-1 Junior Preferred Stock, 11,451,514 shares as Series A-2 Junior Preferred Stock, and 19,786,914 as Series A Senior Preferred Stock (collectively the Series Preferred Stock).
On May 28, 2020 (the Acquisition Date), in accordance with the Series A Senior Preferred Stock Purchase Agreement (the Purchase Agreement), the Company purchased 5,385,787 shares of Series A Senior Preferred Stock (the Series A Senior Preferred Stock) of PDI Therapeutics, Inc.
Given the Company’s ownership of the Series A Senior Preferred Stock and its majority representation on MICA’s board of directors, the Company’s obtained a controlling interest in MICA on the Acquisition Date.
Concurrently with the Series A Senior Preferred Stock purchase, PDI Therapeutics was renamed Cullinan MICA Corp.
The Series B Preferred Stock will have a 12.5% cumulative dividend accruing semi-annually (PIK), a perpetual junior liquidating preference to the Series A Senior Preferred Stock and be non-convertible.
Until the Series A Senior Preferred Stock has been redeemed in full, (i) holders of the Series A Senior Preferred Stock will be entitled to elect up to four directors, (ii) holders of the Series B Preferred Stock will be entitled to elect one director, and (iii) holders of Common Stock will be entitled to elect two directors voting as set forth in clause (ii) of footnote 3, with one such generally elected director being the Company’s Chief Executive Officer.
The total number of shares of Preferred Stock, $.01 par value, that the Corporation is authorized to issue is 50,000,000, of which (i) 20,000,000 are designated "Series A Senior Preferred Stock" (referred to herein as the "SENIOR PREFERRED STOCK"), (ii) 20,000,000 are designated "Series B Junior Preferred Stock" (referred to herein as the "JUNIOR PREFERRED STOCK") and (iii) 10,000,000 are undesignated.
The Management Board shall submit to the Supervisory Board copies of notifications provided to the Minister of Finance concerning sureties and guarantees issued, in accordance with Article 34 of the Act on Sureties and Guarantees Issued by the State Treasury and Certain Legal Persons of May 8th 1997 (Dz. U.
No sinking fund shall be provided for the purchase or redemption of shares of the Series A Senior Preferred Stock.
In addition to any other vote or consent, the vote or written consent of a majority of the holders of Series A Senior Preferred Stock is required for certain actions, including redemptions, dividends, distributions, dissolutions, creation of new classes of stock, mergers, sale of MICA or its assets, and amendments to the certificate of incorporation, as well as other actions.