Series B Preferred Stock Exchange Ratio shall be the sum of the Series B First Tier Preferential Consideration plus the Second Tier Preferential Consideration plus the Third Tier Preferential Consideration.
Series B Preferred Stock Exchange Ratio means the Common Stock Exchange Ratio multiplied by the value determined by dividing (A) the sum of (i) $1,000 plus (ii) the amount of all dividends that have accrued with respect to one share of Series B Preferred Stock and remain unpaid immediately prior to the Effective Time of Merger I, by (B) $0.70.
Series B Preferred Stock Exchange Ratio has the meaning set forth in Section 3.1(a).
More Definitions of Series B Preferred Stock Exchange Ratio
Series B Preferred Stock Exchange Ratio of a fully-paid and nonassessable share of Series B Convertible Preferred Stock, par value $0.00002 per share, of Parent (“Parent Series B Preferred Stock”). The shares of Parent Common Stock and Parent Series A Preferred Stock issued to each holder of Common Shares and the shares of Parent Series B Preferred Stock issued to each holder of Preferred Shares pursuant to this Section 3.1(a), are hereinafter referred to as the “Merger Consideration.” As a result of the Merger, at the Effective Time, each holder of Common Shares and each holder of Preferred Shares shall cease to have any rights with respect thereto, except the right to receive the applicable portion of the Merger Consideration payable in respect of such Shares which are issued and outstanding immediately prior to the Effective Time and any dividends or other distributions payable pursuant to Section 3.6(c), all to be issued or paid, without interest, in consideration therefor upon the surrender of such Shares in accordance with Section 3.6
Series B Preferred Stock Exchange Ratio means the quotient obtained by dividing (i) the Series B Preferred Stock Consideration, by (ii) the number of Company Series B Preferred Shares issued and outstanding immediately prior to the Effective Time.