Non-Voting Common Stock definition
Examples of Non-Voting Common Stock in a sentence
Provided that the Post-Closing Articles of Amendment and the 10-for-1 reverse stock split are approved at the Shareholder Meeting, the Company will, following the filing of the Post Closing Articles of Amendment, reserve, free of any preemptive or similar rights of shareholders of the Company, a number of unissued shares of Common Stock and Non-Voting Common Stock, sufficient to issue and deliver the Underlying Shares.
Immediately following the Closing, (i) 6,156,011 shares of Voting Common Stock and (ii) 1,753,507 shares of Non-Voting Common Stock will be issued and outstanding.
The issuance of the shares of Voting Common Stock into which the shares of Non-Voting Common Stock are convertible into have been duly authorized and, if and when issued in accordance with the terms of the Articles of Incorporation, will be duly and validly issued, fully paid and non-assessable and free and clear of all Liens, other than restrictions on transfer imposed by applicable securities laws, restrictions contemplated by this Agreement and Liens, if any, created by Purchaser.