Series A-1 Preferred Stock definition
Examples of Series A-1 Preferred Stock in a sentence
Subject to any terms set forth in the Financial Intermediary Agreement and the Prospectus, if the Financial Intermediary elects to sell Series A1 Preferred Stock, Series A3 Preferred Stock, Series A4 Preferred Stock or Series A5 Preferred Stock, it may qualify to receive a selling commission up to 7% of the Stated Value of $25.00 per share of Series A1 Preferred Stock, Series A3 Preferred Stock, Series A4 Preferred Stock or Series A5 Preferred Stock sold.
Notwithstanding the foregoing, it is understood and agreed that no commission shall be payable with respect to particular shares of Series A1 Preferred Stock, Series A3 Preferred Stock, Series A4 Preferred Stock and Series A5 Preferred Stock if the Dealer Manager or the Company rejects a proposed subscriber’s Subscription Agreement.
To the extent the selling commission is below 7%, the public offering price per share of Series A1 Preferred Stock, Series A3 Preferred Stock, Series A4 Preferred Stock and Series A5 Preferred Stock shall be decreased in accordance with the schedule included in the “Plan of Distribution” section of the Prospectus.
Of such authorized shares, as of the date of this Agreement, a total of (1) 926,521.982 shares of Common Stock are issued and outstanding, (2) 734,021.87 shares of Series A-1 Preferred Stock are issued and outstanding, (3) 267,559.31 shares of Series A-2 Preferred Stock are issued and outstanding, (4) 12,828.63 shares of Series B Preferred Stock are issued and outstanding, and (5) 1,662,535.58 shares of Series C Preferred Stock are issued and outstanding.
If the selling commission is less than 7%, the Series A1 Preferred Stock, Series A3 Preferred Stock, Series A4 Preferred Stock or Series A5 Preferred Stock will be sold at the corresponding price set forth in the “Plan of Distribution” section of the Prospectus.