Participating convertible preferred stock

Participating convertible preferred stock

Preferred stock that can be converted into common stock at the option of the holder. In contrast, to the usual preferred stock, the value of the preferred stock is refunded to the holder. That is, one gets conversion plus the value of the stock.
References in periodicals archive ?
Diversified holding company Harbinger Group Inc (NYSE:HRG) (HGI) announced on Friday that it is exercising its option to convert its issued and outstanding shares of Series A participating convertible preferred stock and Series A-2 participating convertible preferred stock into common stock of the company, par value USD0.
Granted, Houston-based Maxxam is a highly diversified company with a history of bankruptcies and drastic turnarounds and a complex capital structure, with a closely held block of Non-Cumulative Participating Convertible Preferred Stock and special provisions for board representation by holders of the Common Stock.
32 million shares of Series D Participating Convertible Preferred Stock ("Series D Preferred") in a private placement.
Goldman Sachs"), holders of the Company's Series B Participating Convertible Preferred Stock ("Series B Preferred") and non-voting Series B-1 Participating Convertible Preferred Stock ("Series B-1 Preferred" and, together with the Series B Preferred, collectively, the "Preferred").
OTCBB: XLRT) ("Xplore" or the "Company"), a manufacturer of award-winning rugged tablet PCs, announced today that it received $1 million in gross proceeds from the issuance of 1 million shares of Series D Participating Convertible Preferred Stock ("Series D Preferred") in a follow-on private placement.
4 million, into shares of Series D Participating Convertible Preferred Stock in the Recapitalization, including approximately $2 million in cash being provided under amendments to an existing note purchase agreement.
0% Participating Convertible Preferred Stock ("Series A Preferred Stock") into 36,796,755 shares of Akorn's common stock.
1 million in Series B 6% Participating Convertible Preferred Stock and warrants.
OB) today announced that it has entered into definitive agreements with institutional and other accredited investors with respect to the private placement of 141,000 shares of its Series B 6% Participating Convertible Preferred Stock at a conversion price of $2.
Under the terms of the transaction, which was announced on July 17, 2002, EG&G stockholders received approximately $175 million in cash, $110 million in URS common stock, and $48 million of a new series of nonvoting participating convertible preferred stock.
Under the terms of the transaction - which is expected to close in URS' fiscal fourth quarter assuming the contemplated financing is finalized on a timely basis, and subject to regulatory approvals and other customary closing conditions - URS will retire approximately $165 million of EG&G debt, pay the EG&G stockholders approximately $165 million in cash, and issue to the EG&G stockholders approximately $130 million in URS common stock, representing slightly less than 20 percent of the URS shares currently outstanding, and $40 million of a new series of nonvoting participating convertible preferred stock.

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