Wisconsin 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 Wisconsin 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 characteristics, terms, and rights associated with this particular class of stock offered by the company. The Series B junior cumulative convertible preference stock is a type of preferred stock that holds certain preferences and entitles its holders to certain rights. This specific class of stock is unique to Onyx Energy Company and is governed by Wisconsin state regulations. Key provisions and features of the Wisconsin Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock include: 1. Designation: The stock is designated as Series B junior cumulative convertible preference stock, distinguishing it from other classes of stock issued by the company. 2. Cumulative Dividends: Holders of this preferred stock are entitled to receive dividends on a cumulative basis. If dividends are not paid in full for a particular period, they will accumulate and be paid to the shareholders in future periods before any dividends are paid to common shareholders. 3. Preference in Liquidation: In the event of liquidation, dissolution, or winding up of the company, holders of the Series B stock have a preference over common shareholders in receiving their initial investment back. 4. Conversion Rights: The Series B stock is convertible into a specific number of common shares of Onyx Energy Company. The conversion ratio may be determined based on a predetermined formula or at the discretion of the shareholder, subject to certain conversion provisions and limitations. 5. Junior Position: The Series B stock is considered junior to any existing or future senior preferred stock or debt obligations of the company. This means that in case of bankruptcy or liquidation, the claims of senior shareholders or debt holders will be prioritized over the Series B stockholders. 6. Voting Rights: Generally, holders of the Series B stock do not have voting rights. However, in certain circumstances, such as non-payment of dividends for a specified period or in cases of changes that may significantly affect their rights, the stockholders may be granted limited voting rights. It is important to note that the Wisconsin Certificate of Designation may have different series or classes of preferred stock within the Series B category, each with its own specific terms and conditions. Onyx Energy Company may issue additional certificates of designation to establish other variations or series of the Series B junior cumulative convertible preference stock, providing flexibility in structuring stock offerings and accommodating various investor preferences. Some possible names for different types of Wisconsin Certificate of Designation, Preferences, and Rights of Series B junior cumulative convertible preference stock of Onyx Energy Company could be Series B-1, Series B-2, or Series B-Prime, depending on the characteristics and terms associated with each additional series.

The Wisconsin 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 characteristics, terms, and rights associated with this particular class of stock offered by the company. The Series B junior cumulative convertible preference stock is a type of preferred stock that holds certain preferences and entitles its holders to certain rights. This specific class of stock is unique to Onyx Energy Company and is governed by Wisconsin state regulations. Key provisions and features of the Wisconsin Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock include: 1. Designation: The stock is designated as Series B junior cumulative convertible preference stock, distinguishing it from other classes of stock issued by the company. 2. Cumulative Dividends: Holders of this preferred stock are entitled to receive dividends on a cumulative basis. If dividends are not paid in full for a particular period, they will accumulate and be paid to the shareholders in future periods before any dividends are paid to common shareholders. 3. Preference in Liquidation: In the event of liquidation, dissolution, or winding up of the company, holders of the Series B stock have a preference over common shareholders in receiving their initial investment back. 4. Conversion Rights: The Series B stock is convertible into a specific number of common shares of Onyx Energy Company. The conversion ratio may be determined based on a predetermined formula or at the discretion of the shareholder, subject to certain conversion provisions and limitations. 5. Junior Position: The Series B stock is considered junior to any existing or future senior preferred stock or debt obligations of the company. This means that in case of bankruptcy or liquidation, the claims of senior shareholders or debt holders will be prioritized over the Series B stockholders. 6. Voting Rights: Generally, holders of the Series B stock do not have voting rights. However, in certain circumstances, such as non-payment of dividends for a specified period or in cases of changes that may significantly affect their rights, the stockholders may be granted limited voting rights. It is important to note that the Wisconsin Certificate of Designation may have different series or classes of preferred stock within the Series B category, each with its own specific terms and conditions. Onyx Energy Company may issue additional certificates of designation to establish other variations or series of the Series B junior cumulative convertible preference stock, providing flexibility in structuring stock offerings and accommodating various investor preferences. Some possible names for different types of Wisconsin Certificate of Designation, Preferences, and Rights of Series B junior cumulative convertible preference stock of Onyx Energy Company could be Series B-1, Series B-2, or Series B-Prime, depending on the characteristics and terms associated with each additional series.