The Wyoming Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company is a legal document that outlines the specific characteristics and rights associated with the Series A Junior Cumulative Preference Stock offered by the company. The Series A Junior Cumulative Preference Stock is a type of preferred stock issued by Onyx Energy Company, a Wyoming-based energy company. It is important to note that Onyx Energy Company may have various types of Certificates of Designation, Preferences, and Rights for different series of preferred stock. The Series A Junior Cumulative Preference Stock is characterized by its unique set of features and benefits. The certificate of designation provides detailed information about the following aspects: 1. Dividend Rights: The Series A Junior Cumulative Preference Stockholders have the right to receive fixed dividends before any dividends are paid to common stockholders. These dividends are cumulative, meaning that if the company fails to pay dividends in any given period, they will accrue and be paid at a later date. 2. Priority of Payment: In the event of liquidation or bankruptcy, the Series A Junior Cumulative Preference Stockholders have seniority over common stockholders, meaning that they have a higher claim on assets and will be paid before common stockholders receive any proceeds. 3. Conversion Rights: The Certificate of Designation may outline any conversion rights attached to the Series A Junior Cumulative Preference Stock. These rights typically provide stockholders with the option to convert their preferred shares into a predetermined number of common shares, allowing them to participate in any potential upside in the company's stock price. 4. Voting Rights: The Series A Junior Cumulative Preference Stockholders may have limited or no voting rights, depending on the details specified in the Certificate of Designation. This means that while they have certain financial benefits, they might not have a say in the company's corporate governance matters. 5. Redemption Rights: The Certificate of Designation may include provisions for the redemption of the Series A Junior Cumulative Preference Stock. This could allow the company to repurchase the preferred shares from stockholders at a predetermined price, enabling them to retire the stock or potentially issue new securities. It is essential to note that the specific details and rights associated with the Series A Junior Cumulative Preference Stock can vary depending on the specific Certificate of Designation issued by Onyx Energy Company. Other series of preferred stock issued by the company may have different characteristics and rights, outlined in their respective Certificates of Designation. Overall, the Wyoming Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company provides investors with a comprehensive understanding of the key benefits, rights, and obligations associated with this particular class of preferred stock.
Wyoming Certificate of designation, preferences and rights of Series A junior cumulative preference stock of Oryx Energy Company
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FAQ
Share Designation means a writing approved by the Board of Directors or a committee of the Board of Directors setting forth the powers, designations, preferences and relative and participating, optional or other rights, if any, or the qualifications, limitations or restrictions of a series of Preferred Shares.
Non-Convertible preference shares are those shares that cannot be converted into equity shares. Redeemable Preference Shares. Redeemable preference shares are those shares that can be repurchased or redeemed by the issuing company at a fixed rate and date.
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.
A preferred stock certificate is a document that identifies the ownership share of an investor in a corporation.
(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?).