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Subscription Agreement - 6% Series G Convertible Preferred Stock -...

King Washington Subscription Agreement - 6% Series G Convertible Preferred Stock - between ObjectSoft Corp. and Investors regarding issuance and sale of preferred stock

Name: King Washington Subscription Agreement - 6% Series G Convertible Preferred Stock - between ObjectSoft Corp. and Investors regarding issuance and sale of preferred stock
Brand: US Legal Forms
Rating: 4.8 (307 reviews)

Category:

Corporations - Public - Stock Subscription Agreements

State:

Multi-State

County:

King

Control #:

US-EG-9225

Format:

Instant download

Description

6% Series G Convertible Preferred Stock Subscription Agreement between ObjectSoft Corporation and Investors wherein the company shall issue and sell to the Investors preferred stock and company agrees to purchase warrant shares dated December 30, 1999.

How to fill out King Washington Subscription Agreement - 6% Series G Convertible Preferred Stock - Between ObjectSoft Corp. And Investors Regarding Issuance And Sale Of Preferred Stock?

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FAQ

What Are Convertible Preferred Shares? These shares are corporate fixed-income securities that the investor can choose to turn into a certain number of shares of the company's common stock after a predetermined time span or on a specific date.

A preference share that is issued on the terms that it is liable to be converted to an agreed number of ordinary shares or cash: At a certain time or on the happening of a particular event (for example, on the sale or initial public offering of the issuing company).

These advantages are: They get more dividends than the common equity.The option to convert into common stock becomes more valuable if the price of common shares rises.Preference shares carry less risk than common stock and also get priority over common shares when it comes to claiming on the company's assets.

What Is Convertible Preferred Stock? Convertible preferred stocks are preferred shares that include an option for the holder to convert the shares into a fixed number of common shares after a predetermined date.

A convertible preferred note is a type of short-term debt that is typically loaned by investors of start-up businesses. Upon later valuation and funding, the note can be converted into equity.

In the United States there are two types of preferred stocks: straight preferreds and convertible preferreds. Straight preferreds are issued in perpetuity (although some are subject to call by the issuer, under certain conditions) and pay a stipulated dividend rate to the holder.

Most shareholders are attracted to preferred stocks because they offer more consistent dividends than common shares and higher payments than bonds. However, these dividend payments can be deferred by the company if it falls into a period of tight cash flow or other financial hardship.

Convertible notes (and the more recent SAFE) are a standard instrument for early stage investments in venture scale companies. Because a convertible note does not require the same negotiation and integration of rights and privileges that a Preferred Stock round does, it is much easier and cheaper to accomplish.

Convertible preferred stock gives an investor a stream of income (dividends on the preferred stock) as well as potential 'upside' advantages. It can be converted into the common stock of the company at the predetermined date and conversion ratio. Investors find this to be an attractive feature of a preferred stock.

Corporations use convertible preferred stock to raise capital. They are especially favored by early-stage companies as a financing medium. Companies can typically raise capital in two ways: debt or equity.

King Washington Subscription Agreement - 6% Series G Convertible Preferred Stock - between ObjectSoft Corp. and Investors regarding issuance and sale of preferred stock

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Why is convertible preferred stock an attractive financing instrument for early stage ventures?

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