Connecticut Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-136
• Format: Word; Rich Text

Description

This sample form, a detailed Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Connecticut Certificate of Designation outlines the specific terms, preferences, and rights associated with the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. This certificate indicates the unique features and privileges granted to stockholders holding this particular class of shares. The Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company carries several distinct characteristics, making it an attractive investment option. These features include: 1. Cumulative Dividends: Holders of the Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends on a cumulative basis. This means that if dividends are not paid in a particular period, they will accrue and become payable in future periods. This provision ensures that stockholders receive their entitled dividends, even if the company faces temporary financial limitations. 2. Junior Stock Ranking: The Series B Junior Cumulative Convertible Preference Stock ranks below other senior classes of stock, such as common stock, in terms of preference in the event of liquidation or winding up of the company. This implies that holders of this stock will receive their distribution after senior stockholders have been satisfied. 3. Convertibility Option: Stockholders of the Series B Junior Cumulative Convertible Preference Stock has the option to convert their shares into common stock of Onyx Energy Company. The terms and conditions of conversion, such as conversion ratio and conversion price, will be specified in the Certificate of Designation. 4. Convertible premium: The Certificate of Designation may also specify a convertible premium, which represents an additional premium amount paid to stockholders upon conversion of their Series B Junior Cumulative Convertible Preference Stock into common stock. This premium serves as an incentive for stockholders to exercise their conversion rights. In addition to the Series B Junior Cumulative Convertible Preference Stock, Onyx Energy Company may also issue other classes of preferred stocks under the Connecticut Certificate of Designation. These classes may have different preferences, rights, and characteristics tailored to fit the specific requirements of investors and the company's capital structure. Some possible variations could include Series A Preferred Stock, Series C Preferred Stock, or Series D Preferred Stock. The distinct features and provisions associated with each series would be outlined in their respective Certificate of Designation.

The Connecticut Certificate of Designation outlines the specific terms, preferences, and rights associated with the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. This certificate indicates the unique features and privileges granted to stockholders holding this particular class of shares. The Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company carries several distinct characteristics, making it an attractive investment option. These features include: 1. Cumulative Dividends: Holders of the Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends on a cumulative basis. This means that if dividends are not paid in a particular period, they will accrue and become payable in future periods. This provision ensures that stockholders receive their entitled dividends, even if the company faces temporary financial limitations. 2. Junior Stock Ranking: The Series B Junior Cumulative Convertible Preference Stock ranks below other senior classes of stock, such as common stock, in terms of preference in the event of liquidation or winding up of the company. This implies that holders of this stock will receive their distribution after senior stockholders have been satisfied. 3. Convertibility Option: Stockholders of the Series B Junior Cumulative Convertible Preference Stock has the option to convert their shares into common stock of Onyx Energy Company. The terms and conditions of conversion, such as conversion ratio and conversion price, will be specified in the Certificate of Designation. 4. Convertible premium: The Certificate of Designation may also specify a convertible premium, which represents an additional premium amount paid to stockholders upon conversion of their Series B Junior Cumulative Convertible Preference Stock into common stock. This premium serves as an incentive for stockholders to exercise their conversion rights. In addition to the Series B Junior Cumulative Convertible Preference Stock, Onyx Energy Company may also issue other classes of preferred stocks under the Connecticut Certificate of Designation. These classes may have different preferences, rights, and characteristics tailored to fit the specific requirements of investors and the company's capital structure. Some possible variations could include Series A Preferred Stock, Series C Preferred Stock, or Series D Preferred Stock. The distinct features and provisions associated with each series would be outlined in their respective Certificate of Designation.