Stock Fraction definition
Examples of Stock Fraction in a sentence
Each Right entitles the registered holder to purchase from the Company one one-hundredth of a share (a "Preferred Stock Fraction") of the Company's Series A Preferred Stock, par value $.01 per share (the "Preferred Stock"), or a combination of securities and assets of equivalent value, at a purchase price of $40.00 per Preferred Stock Fraction (the "Purchase Price"), subject to adjustment.
The number of Rights evidenced by this Rights Certificate and the number of Preferred Stock Fractions which may be purchased upon exercise thereof and the Purchase Price per Preferred Stock Fraction, set forth above, are the number of Rights, number of one Preferred Stock Fractions and Purchase Price as of _____________, 19__, based on the Preferred Stock as constituted at such date.
Except in the circumstances described below, after the Distribution Date each Right will be exercisable into a Preferred Stock Fraction.
RESOLVED FURTHER, that the exercise price of the Rights shall be $40.00 per Preferred Stock Fraction and that the redemption price therefor shall be $.01 per Right, in each case, subject to the adjustments set forth in the Rights Agreement.
The number of Rights evidenced by this Rights Certificate (and the number of Preferred Stock Fractions which may be purchased upon exercise thereof) set forth above, and the Purchase Price per Preferred Stock Fraction set forth above, are the number and Purchase Price as of the close of business on March 2, 1999, based on the Preferred Stock as constituted at such date.
Each Preferred Stock Fraction carries voting and dividend rights that are intended to produce the equivalent of one share of Common Stock.
Subject to the provisions of Section 11 and Section 22 hereof, the Rights Certificates, whenever distributed, shall entitle the holders thereof to purchase such number of Preferred Stock Fractions as shall be set forth therein at the price set forth therein (such exercise price per Preferred Stock Fraction, the “Purchase Price”), but the amount and type of securities purchasable upon the exercise of each Right and the Purchase Price thereof shall be subject to adjustment as provided herein.
Any such SPA Cash Payment Election Notice shall specify (A) the percentage of Variable Price Shares to be acquired for cash (the "Cash Fraction") and (B) the percentage of Variable Price Shares to be acquired for Purchaser Stock (the "Stock Fraction"), the aggregate of which shall equal one hundred percent (100%).
The number of Rights evidenced by this Rights Certificate and the number of Preferred Stock Fractions which may be purchased upon exercise thereof and the Purchase Price per Preferred Stock Fraction, set forth above, are the number of Rights, number of one Preferred Stock Fractions and Purchase Price as of _____________, 20__,(2) ___________________ (2) Insert the Distribution Date.
Each Right entitles the record holder to purchase from the Company one one-thousandth of a share ("Preferred Stock Fraction") of the Company's Series A Junior Participating Preferred Stock, no par value (the "Preferred Stock") at a price of $100 (the "Purchase Price"), subject to adjustment in certain circumstances.