The Washington Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company is a legal document that outlines the specific provisions, terms, and benefits applicable to this particular class of stock. As a Series B Junior Cumulative Convertible Preference Stockholder of Onyx Energy Company, you hold a unique position within the corporate structure. This designation provides you with certain preferences and rights that distinguish you from common stockholders. One important aspect of the Series B Junior Cumulative Convertible Preference Stock is its cumulative nature. This means that if Onyx Energy Company fails to pay dividends as declared on the stock, these unpaid dividends accumulate and must be paid to Series B stockholders before any dividends can be paid to common stockholders. Additionally, the Series B stock is convertible, which means you have the right to exchange these shares for a specified number of common shares at any time. This conversion feature allows you to potentially benefit from the performance and growth of Onyx Energy Company's common stock. It is worth noting that there may be other types of Washington Certificates of Designation, Preferences, and Rights for different series of junior cumulative convertible preference stocks of Onyx Energy Company. However, the Series B designation is specifically mentioned in this context. By holding Series B Junior Cumulative Convertible Preference Stock, you effectively enjoy a combination of preferential treatment, cumulative dividends, and the option to convert to common shares in Onyx Energy Company. These provisions aim to provide stability, growth potential, and protection to investors with this particular class of stock.
The Washington Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company is a legal document that outlines the specific provisions, terms, and benefits applicable to this particular class of stock. As a Series B Junior Cumulative Convertible Preference Stockholder of Onyx Energy Company, you hold a unique position within the corporate structure. This designation provides you with certain preferences and rights that distinguish you from common stockholders. One important aspect of the Series B Junior Cumulative Convertible Preference Stock is its cumulative nature. This means that if Onyx Energy Company fails to pay dividends as declared on the stock, these unpaid dividends accumulate and must be paid to Series B stockholders before any dividends can be paid to common stockholders. Additionally, the Series B stock is convertible, which means you have the right to exchange these shares for a specified number of common shares at any time. This conversion feature allows you to potentially benefit from the performance and growth of Onyx Energy Company's common stock. It is worth noting that there may be other types of Washington Certificates of Designation, Preferences, and Rights for different series of junior cumulative convertible preference stocks of Onyx Energy Company. However, the Series B designation is specifically mentioned in this context. By holding Series B Junior Cumulative Convertible Preference Stock, you effectively enjoy a combination of preferential treatment, cumulative dividends, and the option to convert to common shares in Onyx Energy Company. These provisions aim to provide stability, growth potential, and protection to investors with this particular class of stock.
