The Georgia Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company defines the specific characteristics, preferences, and rights associated with the Series A junior cumulative preference stock issued by the company. This certificate, approved and filed in accordance with the laws of the state of Georgia, provides a detailed outline of the features and protections provided to the holders of this particular class of stock. The Series A junior cumulative preference stock of Onyx Energy Company is designed to grant certain priority benefits to its holders, distinguishing it from other classes of stock issued by the company. It is important to note that the company may issue multiple series of preferred stock, each with a distinct certificate of designation. However, for the purpose of this description, we will focus on the Series A junior cumulative preference stock. The certificate specifies that the Series A junior cumulative preference stock carries a junior ranking in relation to any senior preferred stock issued by Onyx Energy Company. This means that in the event of liquidation or dissolution of the company, holders of senior preferred stock would be paid before holders of Series A junior cumulative preference stock. The Series A junior cumulative preference stock is also classified as cumulative, meaning that if the company fails to pay dividends or distributions as specified, those amounts accumulate and must be paid to the holders of this stock before any dividends can be paid to holders of common stock. This provision offers a level of security and assurance to investors, as it guarantees the eventual payment of any omitted dividends. Moreover, the certificate outlines the preferred dividend rate applicable to the Series A junior cumulative preference stock. This rate is typically fixed, providing predictable and stable income to its holders. The certificate also mentions any adjustments that may be made to the dividend rate, such as in the case of mergers, acquisitions, or other significant corporate events. Another important aspect detailed in the certificate is the liquidation preference granted to holders of Series A junior cumulative preference stock. In the event of liquidation, these stockholders have the right to receive a specific liquidation preference amount per share before any proceeds are distributed to holders of common stock. It is worth mentioning that Onyx Energy Company may issue additional certificates of designation to establish preferences and rights associated with different series of preferred stock. These certificates would indicate the specific designation, preferences, and rights applicable to each series, differentiating them from one another. In conclusion, the Georgia Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company provides a comprehensive description of the specific characteristics, benefits, and rights associated with the Series A junior cumulative preference stock. This certificate ensures transparency and clarity for investors and establishes the obligations and protections provided to the stockholders of this particular class of stock.
Georgia Certificate of designation, preferences and rights of Series A junior cumulative preference stock of Oryx Energy Company
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A preferred stock certificate is a document that identifies the ownership share of an investor in a corporation.
An account designation is the name given to an investment account where shares cannot be directly held by the beneficial owner (e.g. a minor) and instead, are registered in the name of a trustee (e.g. a parent).
Stock Designation with respect to a share of Company Common Stock means a designation by the holder of such share, provided by the Company to Parent no later than the Designation Deadline, to the effect that such share is designated to receive the Stock Designation Consideration.
A certificate which contains a copy of the board resolution setting out the powers, designations, preferences or rights of a class or series of a class of stock of a corporation (typically a series of preferred stock) if they are not already contained in the certificate of incorporation of the corporation.
Preferred Designation means the Certificate of Designation with respect to the Series D Preferred Stock, the Series E Preferred Stock, the Series F Preferred Stock, the Series G Preferred Stock, the Series H Preferred Stock and the Series I Preferred Stock adopted by the Board of Directors of the Company and duly filed ...