Examples of Series B-1 Preferred in a sentence
As of the close of business on the date of this Agreement, (i) 22,561,639 shares of Company Common Stock were issued and outstanding, (ii) no shares of Company Common Stock were held in the treasury of the Company or by Subsidiaries of the Company, (iii) 4,084,350 shares of Company Series A Preferred Stock were issued and outstanding, (iv) 20,000 shares of Company Series B Preferred Stock were issued and outstanding, and (v) no shares of Company Series B-1 Preferred Stock were issued and outstanding.
The Company defines capital as Common and Series A1 and Series B1 Preferred Shares as recognized in the financial statements.
Each unit consists of one Series B-1 Preferred Share and one-half of a Series B-1 preferred share purchase warrant.
Each B-1 Compensation Unit consists of one Series B-1 Preferred Share and one-half of a Series B-1 preferred share purchase warrant.
Upon the conversion of Diluted Stock held by a Series B/KBH Holder as set forth herein, such shares of Diluted Stock shall no longer be outstanding on the books of the Corporation and the Series B/KBH Holder shall be treated, to the extent that said holder held such Diluted Stock, as the record holder of such shares of Series B1 Preferred Stock (or Series KBH1 Stock, in the case of Series KBH Stock) on the date of closing of the applicable Diluting Issuance.
Each warrant entitles to the holder to acquire a Series B-1 Preferred Share at $2.20 per share for two years following the issuance date.
Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the shares of Series B-1 Preferred Stock to be converted, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock as of such date.
The “Series B-1 Original Issue Price” shall mean $1.31 per share, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series B-1 Preferred Stock.
The Series A Preferred, Series A-1 Preferred, Series B Preferred, Series B-1 Preferred, Series C Preferred, and Series C-1 Preferred shall have the rights, preferences, privileges and restrictions set forth in the Charter.
Any dividend payment made on shares of Series B-1 Preferred Stock shall first be credited against the dividends accumulated with respect to the earliest dividend period for which dividends have not been paid.