Conversion of Series A Preferred Clause Samples
The "Conversion of Series A Preferred" clause defines the terms under which Series A Preferred shares can be converted into common stock. Typically, this clause outlines both voluntary conversion by the holder and automatic conversion upon certain events, such as a qualified public offering or a majority vote of preferred shareholders. For example, it may specify the conversion ratio, adjustments for stock splits, and the process for exercising conversion rights. The core function of this clause is to provide a clear mechanism for preferred shareholders to participate in the upside of the company, while also ensuring a smooth transition to common equity in scenarios like an IPO or acquisition.
Conversion of Series A Preferred. The Series A Preferred is not convertible into or exchangeable for any other property or securities of the Corporation except as provided in Article VII of the Charter.
Conversion of Series A Preferred. Effective immediately and without further documentation, Holder hereby converts the number of shares of Preferred Stock listed below its signature into the identical number of fully-paid and non-assessable shares of Common Stock of the Company.
Conversion of Series A Preferred. If, while this Warrant remains outstanding and unexpired, all of the shares of Series A Preferred are converted into Common Stock in accordance with the terms of the Certificate of Incorporation of the Company, this Warrant shall become exercisable for that number of shares of Common Stock equal to the number of shares of Common Stock that would be received if this Warrant were exercised in full and the shares of Series A Preferred received thereupon were simultaneously converted immediately prior to such event, and the Exercise Price in effect immediately prior to such event shall be appropriately and proportionately adjusted (provided the aggregate Exercise Price shall remain the same).
Conversion of Series A Preferred. Effective as of 11:59 P.M. Pacific time on October 22, 2002, each share of Series A Preferred owned by each Non-Participating Holder shall automatically and without further action on the part of such Non-Participating Holder be converted into one (1) share of Common Stock. Effective upon, subject to, and concurrently with, the consummation of each Participating Holder’s purchase of its Pro Rata Share of the shares of Series B Preferred issued and sold by the Company pursuant to the terms of this Agreement, each share of Series A Preferred owned by such Participating Holder shall automatically and without further action on the part of such Participating Holder be converted into one (1) share of Series A-1 Preferred.
Conversion of Series A Preferred. At the Effective Time, each share of Series A Preferred shall be converted into the right to receive, and each holder of Series A Preferred shall receive, a certificate representing the number of Parent Shares (each Parent Share to be valued at the average closing price per share of Parent Common Stock as quoted on NASDAQ for the five (5) trading days immediately preceding the Closing Date) equal in value to the quotient determined by dividing (A) $281,197 by (B) the aggregate number of shares of Company Common Stock issuable upon the conversion of all issued and outstanding Series A Preferred shares immediately prior to the Closing Date.
Conversion of Series A Preferred. Each share of Series A Preferred issued and outstanding immediately prior to the Effective Time (other than (i) shares of Series A Preferred to be cancelled in accordance with Section 2.02(a) and (ii) Dissenting Shares) shall be converted into the right to receive a portion of the Aggregate Closing Merger Consideration allocated to the Series A Preferred in the Distribution Waterfall, in cash, without interest, at the time and subject to the contingencies specified herein and in the Payment Agency Agreement, such portion to be determined in accordance with the Distribution Waterfall.
Conversion of Series A Preferred. The Company shall exercise its commercially reasonable efforts to cause all outstanding shares of Company Series A Preferred Stock to convert into shares of Company Common Stock prior to the Closing pursuant to the terms of the Company’s Articles of Incorporation.
Conversion of Series A Preferred. Each issued and outstanding share of Series A Preferred shall have been converted to Common Stock.
Conversion of Series A Preferred. All outstanding shares of Series A Preferred Stock shall have been converted to Common Stock of Xybridge prior to, or effective upon, the Closing.
Conversion of Series A Preferred. At least a majority of the holders of the issued and outstanding NovaRay Series A Preferred Stock immediately prior to the Effective time shall have delivered to NovaRay a written request for the conversion of such shares of NovaRay Series A Preferred Stock into NovaRay Common Stock, and all of the issued and outstanding NovaRay Series A Preferred Stock shall have converted into shares of NovaRay Common Stock prior to the Effective Time