Series B-2 Preferred Stock definition
Examples of Series B-2 Preferred Stock in a sentence
As of immediately prior to the date hereof, zero shares of Series A Preferred Stock were issued and outstanding, zero shares of Series A-1 Preferred Stock were issued and outstanding, zero shares of Series B Preferred Stock were issued and outstanding, zero shares of Series B-1 Preferred Stock were issued and outstanding and 175,263.58 shares of Series B-2 Preferred Stock were issued and outstanding.
Of such Preferred Stock, (i) no shares are designated as Series A Preferred Stock, (ii) no shares are designated as Series A-1 Preferred Stock, (iii) no shares are designated as Series B Preferred Stock, (iv) no shares are designated as Series B-1 Preferred Stock, (v) 175,263.58 shares are designated as Series B-2 Preferred Stock and (vi) upon the filing of the Certificate of Designations with the Secretary of the State of Delaware, 178,180.34 shares will be designated as Series B-3 Preferred Stock.
Following the filing of the Certificate of Elimination, no shares of Preferred Stock will be designated as Series B-2 Preferred Stock and all 175,263.58 shares of previously designated shares of Series B-2 Preferred Stock will return to their status as authorized Preferred Stock available for issuance.
Promptly following the Closing, the Company shall file with the Secretary of State of the State of Delaware a Certificate of Elimination (the “Certificate of Elimination”) with respect to the Certificate of Designations of the Series B-2 Preferred Stock, and take such additional action as may be necessary to cancel the Certificate of Designations of the Series B-2 Preferred Stock and otherwise terminate the authority of the Company to issue additional shares of, and retire, the Series B-2 Preferred Stock.