Series B Common Stock definition
Examples of Series B Common Stock in a sentence
The authorized capital stock of the Company consists of 240,000,000 shares of Common Stock, of which 200,000,000 are Series A Common Stock and 40,000,000 are Series B Common Stock; and 10,000,000 shares of undesignated preferred stock.
The authorized capital stock of Buyer consists of 240,000,000 shares of common stock, par value $0.001 per share (the "COMMON STOCK") of which 200,000,000 are Series A Common Stock and 40,000,000 are Series B Common Stock, and 10,000,000 shares of undesignated preferred stock.
Holders of Series B Common Stock are entitled to elect all the directors in one of the Company's three classes of directors, with the holders of the Series A Common Stock entitled to elect the remaining directors.
In all other respects, the Series A Common Stock and the Series B Common Stock is identical.
Holders of Series B Common Stock are entitled to elect all the directors in one of the Buyer's three (3) classes of directors, with the holders of Series A Common Stock entitled to elect the remaining directors.