Amendment Per Order For Price Change

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-189X
• Format: Word; Rich Text

Description

The Amendment per order for price change outlines a proposed adjustment to the Company's Charter, specifically the creation of a new class of common stock designated as "Class C Common Stock." This stock will have a par value of $3 per share and will offer specific rights concerning dividends, distribution, and voting. The Class C Common Stock will grant holders a 1/20th vote per share, contrasting with the standard voting rights of other classes. The amendment aims to facilitate the Company's strategy for potential acquisitions, allowing for the issuance of equity securities without significantly diluting existing voting power. Importantly, shareholders won't have preemptive rights to Class C shares, and dividends must be equal across classes. The utility of this form lies in its capacity for strategic corporate financing while retaining current control for existing shareholders. Target audience members, including attorneys, partners, owners, associates, paralegals, and legal assistants, can use this form to understand the implications of the amendment, navigate shareholder approval processes, and ensure compliance with regulatory requirements associated with such amendments.