Examples of Preferred D Shares in a sentence
No adjustment in the Preferred D Shares Conversion Price shall be required unless such adjustment would require an increase or decrease of at least 1% in such price, provided that any adjustment not made as a result of the foregoing shall be carried forward and given effect with any subsequent adjustment.
The Preferred D Shares were issued in connection with the conversion of $4.0 million in indebtedness under the CD Line of Credit.
The Company issued 4,000 Preferred D Shares and 180 Additional Preferred C Shares.
The certificates evidencing the Preferred D Shares and the Additional Preferred C Shares issued by Celsius bear a legend (i) stating that the shares have not been registered under the Securities Act and applicable state securities laws, and (ii) setting forth and referring to the restrictions on transferability and sale of the shares under the Securities Act and applicable state securities laws.
The Preferred D Shares can be converted into Company common stock at any time until the expiration date of the line of credit in 2020 or its earlier satisfaction in full, at a conversion price of $0.86 per share.
If such dividend or distribution is not so paid or made, the applicable Preferred D Shares Conversion Price shall again be adjusted to be the applicable Preferred D Shares Conversion Price which would then be in effect if such dividend or distribution had not been declared.
The Preferred D Shares accrue a 5% annual cumulative cash dividend, payable quarterly and accords the holders thereof voting rights on an “as converted” basis.
Although the quote from Schaffer suggests that he fetishizes the fundamental like Dorr and Sider, careful attention to his views suggests not.
In order to effect the transactions, Celsius’ Amended and Restated Articles of Incorporation were amended as authorized by the Board of Directors and majority shareholders (to the extent required), to increase the number of authorized shares of the Company’s common stock 50,000,000 to 75,000,000 and authorized Preferred C Shares from 2,200 to 3,000 and to designate the newly created Preferred D Shares.
Contemporaneously with the issuance of the Preferred D Shares $180,000 of accrued but unpaid dividends on outstanding Preferred C Shares was paid through the issuance of an additional 180 Preferred C Shares (the “Additional Preferred C Shares”).