Cook Illinois Proposed amendment to the certificate of incorporation to authorize up to 10,000,000 shares of preferred stock with amendment

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• County: Cook
• Control #: US-CC-3-168
• Format: Word; Rich Text

Description

This sample form, a detailed Proposed Amendment to the Certificate of Incorporation to Authorize Up to 10,000,000 Shares of Preferred Stock w/Amendment document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. Cook Illinois is proposing an amendment to its certificate of incorporation that would authorize the issuance of up to 10,000,000 shares of preferred stock with amendment. Preferred stock is a type of equity security that gives its shareholders certain privileges and preferences over common stockholders. This proposed amendment would allow Cook Illinois to issue preferred stock with specific amendments or modifications based on business needs or changing market conditions. Preferred stock typically comes in different classes or series, each with its own unique features and rights. The proposed amendment does not specify the different types of preferred stock that could be issued, but it grants Cook Illinois the flexibility to create and designate various classes or series as necessary. These different types could include: 1. Cumulative Preferred Stock: This type of preferred stock carries the right to accumulate unpaid dividends and receive them before any dividends are paid to common stockholders. 2. Convertible Preferred Stock: This type of preferred stock can be converted into a predetermined number of common shares. Investors may choose to convert their shares if they believe the common shares will provide greater returns. 3. Participating Preferred Stock: Holders of participating preferred stock have the right to receive additional dividends beyond their stated preference, sharing these dividends with common stockholders. 4. Adjustable-rate Preferred Stock: This type of preferred stock has a fixed dividend rate that adjusts periodically based on market conditions, ensuring the stock's value remains competitive. 5. Redeemable Preferred Stock: Investors who hold redeemable preferred stock have the right to sell their shares back to the company at a predetermined price or date. 6. Non-cumulative Preferred Stock: Unlike cumulative preferred stock, non-cumulative preferred stock does not accumulate unpaid dividends. If a dividend is not declared for a specific period, it is not carried forward. 7. Preferred Stock with Voting Rights: Some preferred stock may carry limited voting rights, allowing shareholders to vote on certain matters. The proposed amendment to Cook Illinois' certificate of incorporation signifies the company's intention to increase its capital-raising options and enhance financial flexibility. By designating up to 10,000,000 shares of preferred stock, Cook Illinois can leverage this amendment to meet its objectives and adapt to evolving market conditions effectively.

Cook Illinois is proposing an amendment to its certificate of incorporation that would authorize the issuance of up to 10,000,000 shares of preferred stock with amendment. Preferred stock is a type of equity security that gives its shareholders certain privileges and preferences over common stockholders. This proposed amendment would allow Cook Illinois to issue preferred stock with specific amendments or modifications based on business needs or changing market conditions. Preferred stock typically comes in different classes or series, each with its own unique features and rights. The proposed amendment does not specify the different types of preferred stock that could be issued, but it grants Cook Illinois the flexibility to create and designate various classes or series as necessary. These different types could include: 1. Cumulative Preferred Stock: This type of preferred stock carries the right to accumulate unpaid dividends and receive them before any dividends are paid to common stockholders. 2. Convertible Preferred Stock: This type of preferred stock can be converted into a predetermined number of common shares. Investors may choose to convert their shares if they believe the common shares will provide greater returns. 3. Participating Preferred Stock: Holders of participating preferred stock have the right to receive additional dividends beyond their stated preference, sharing these dividends with common stockholders. 4. Adjustable-rate Preferred Stock: This type of preferred stock has a fixed dividend rate that adjusts periodically based on market conditions, ensuring the stock's value remains competitive. 5. Redeemable Preferred Stock: Investors who hold redeemable preferred stock have the right to sell their shares back to the company at a predetermined price or date. 6. Non-cumulative Preferred Stock: Unlike cumulative preferred stock, non-cumulative preferred stock does not accumulate unpaid dividends. If a dividend is not declared for a specific period, it is not carried forward. 7. Preferred Stock with Voting Rights: Some preferred stock may carry limited voting rights, allowing shareholders to vote on certain matters. The proposed amendment to Cook Illinois' certificate of incorporation signifies the company's intention to increase its capital-raising options and enhance financial flexibility. By designating up to 10,000,000 shares of preferred stock, Cook Illinois can leverage this amendment to meet its objectives and adapt to evolving market conditions effectively.