Examples of ACX Common Stock in a sentence
ACX shall then deliver such omnibus certificate to the Agent and shall instruct the Agent to distribute, beginning on the Distribution Date, to holders of ACX Common Stock on the Record Date, the appropriate number of shares of CTI Common Stock based on the Distribution Ratio, and, as soon thereafter as reasonably practicable, cash, if applicable, in lieu of fractional shares obtained in the manner provided in Section 4.02 hereof.
ACX and CTI shall update, supplement and amend this information and shall use reasonable efforts to cause the Form 10 to become effective under the Exchange Act, and thereafter ACX shall mail the Information Statement to holders of ACX Common Stock as of the Record Date.
In lieu of receiving fractional shares, each holder of ACX Common Stock who would otherwise be entitled to receive a fractional share of CTI Common Stock pursuant to the Distribution will receive cash for such fractional share.
Prior to the Distribution Date, ACX shall deliver to CTI the certificate for 200,000 shares of CTI Common Stock held by ACX and representing all of the outstanding CTI Common Stock, and CTI shall cancel such certificate and issue and deliver to ACX in exchange therefor an omnibus stock certificate representing that number of shares of CTI Common Stock equal to the product of (i) the number of shares of ACX Common Stock outstanding on the Record Date multiplied by (ii) the Distribution Ratio.
The common shares issuable in exchange for the ACX Common Stock shall be issued to the holders thereof in proportion to the respective percentage ownership of each ACX Common Stock shareholder as of the Effective Time.