Examples of PDL Common Stock in a sentence
PDL and Facet shall take all actions necessary to cause, immediately prior to the Distribution, the number of shares of Facet Common Stock issued and outstanding to be increased to equal the number of shares of Facet Common Stock to be distributed to holders of PDL Common Stock in accordance with this Agreement.
Pursuant to the partial unwinding of the capped call agreements, the Company has entered into an agreement with the counterparty to purchase 3.2 million shares of PDL Common Stock previously acquired by the counterparty to hedge the capped calls.
Subject to Section 3.4, each holder of PDL Common Stock on the Record Date (or such holder’s designated transferee or transferees) will be entitled to receive in the Distribution one (1) share of Facet Common Stock for every five (5) shares of PDL Common Stock.
In connection with the Distribution, PDL and Facet shall prepare and mail to the holders of PDL Common Stock such information concerning Facet, the Facet Business, the Facet Assets, the Facet Liabilities, operations and management, the Distribution, the Separation and such other matters as PDL shall reasonably determine and as may be required by Law.
PDL shall instruct the Agent to deliver the LENSAR Shares previously delivered to the Agent to a depositary and to mail to each holder of record of PDL Common Stock on the Distribution Record Date, a statement of the LENSAR Common Stock credited to such holder’s account.
Subject to Section 3.3, on or prior to the Distribution Date, for the benefit of and distribution to the holders of PDL Common Stock on the Record Date, PDL will deliver stock certificates, endorsed by PDL in blank, to the distribution agent, BNY Mellon Shareowner Services (the “Agent”), representing all of the outstanding and issued shares of Facet Common Stock then owned by PDL.