Series B-1 Convertible Preferred Stock definition

Series B-1 Convertible Preferred Stock means the Series B-1 Convertible Preferred Stock, par value $0.0001 per share, of the Corporation.

Series B-1 Convertible Preferred Stock is defined in Section 2.2(a).

Series B-1 Convertible Preferred Stock means (i) the Company's Series B-1 Convertible Preferred Stock, $0.01 par value per share, issued and issuable pursuant to the Series B-1 Statement of Designations and (ii) any capital stock into which such Series B-1 Convertible Preferred Stock shall have been changed or any share capital resulting from a reclassification of such Series B-1 Convertible Preferred Stock.

Examples of Series B-1 Convertible Preferred Stock in a sentence

• A Certificate of Designation of Preferences, Rights and Limitations of Series B-1 Convertible Preferred Stock was filed with the Secretary of State of the State of Delaware on March 2, 2020.

• If any shares of Preferred Stock shall be converted or reacquired by the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series B-1 Convertible Preferred Stock.

• The series of preferred stock of the Corporation shall be designated as the Series B-1 Convertible Preferred Stock (the “Preferred Stock”) and the number of shares so designated shall be up to 3,200 (which shall not be subject to increase without the written consent of the holders (each, a “Holder” and collectively, the “Holders”) of a majority of the then outstanding shares of Preferred Stock).

• Shares of Preferred Stock converted into Common Stock in accordance with the terms hereof shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series B-1 Convertible Preferred Stock.

• In connection with the 2020 PIPE Financing transaction and on March 2, 2020, the Company filed a Certificate of Designation of Preferences, Rights and Limitations for the Company’s Series B-1 Convertible Preferred Stock (the “Series B-1 Certificate of Designation”).

• An aggregate of 3,199 shares of Series B-1 Convertible Preferred Stock for an aggregate purchase price of $33.6 million were issued to certain accredited investors.

• If any shares of Preferred Stock shall be converted, redeemed or reacquired by the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series B-1 Convertible Preferred Stock.

• Said Certificate of Designations, as amended hereby, shall apply to 8,543,524 shares of Series B Convertible Preferred Stock, 8,543,524 shares of Series B1 Convertible Preferred Stock, 550,000 shares of Series KBH Convertible Preferred Stock, and 550,000 shares of Series KBH1 Convertible Preferred Stock.

• It would also mean having a program from which English language learners could reasonably expect to graduate with confidence that they were prepared for the world of work or higher education.

• The Series B-1 Convertible Preferred Stock automatically converts into common stock immediately prior to a registered initial public offering and certain change of control transactions.

More Definitions of Series B-1 Convertible Preferred Stock

Series B-1 Convertible Preferred Stock has the meaning set forth in the Recitals.