Michigan Certificate of designation, preferences and rights of Series A junior cumulative preference stock of Oryx Energy Company
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FAQ
A preferred stock certificate is a document that identifies the ownership share of an investor in a corporation.
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.
Issuing preferred stock provides a company with a means of obtaining capital without increasing the company's overall level of outstanding debt. This helps keep the company's debt to equity (D/E) ratio, an important leverage measure for investors and analysts, at a lower, more attractive level.
(b) ?Certificate of Designation? means this Certificate of Designation of the Series A Preferred Stock, as it may be amended from time to time. (such class or series of capital stock of the Corporation into which such stock is reclassified or reconstituted, ?Reclassified or Reconstituted Common Stock?).