Authorized shares

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Authorized shares

Number of shares authorized for issuance by a firm's corporate charter.

Authorized Shares

The maximum number of shares a company is allowed to issue. Generally, the company's charter specifies the number of authorized shares, but shareholders can increase or decrease it according to procedures listed in the charter. Typically, the number of authorized shares is larger than the required amount in order to give a company the greatest amount of flexibility. Authorized shares are also called authorized capital stock or simply authorized stock.
References in periodicals archive ?
00 of authorized share capital for the purpose of issuing (exclusive of pre-emptive subscription rights of the existing shareholders) a maximum of 7,500,000 registered shares to be used exclusively as consideration for the acquisition of the International Wealth Management business of Bank of America Merrill Lynch outside the United States.
n authorized shares, not only to complete the settlement agreements, but also to ensure that the company can continue to fund its research and development and clinical programs well into the future.
The settlement agreements further provide that the shares will be delivered following the approval of an increase in the company's authorized shares by the company's stockholders.
Article IV of the Company's Articles of Incorporation will be amended to decrease the number of authorized shares from 5,000,000 to 4,000,000 shares.
The Company listened to the concerns of its shareholders regarding the Proposal and, based on their input, the Company has decided to amend the Proposal by removing the proposed increase in the number of authorized shares of preferred stock.
The increase in our authorized shares of common stock allows us to complete the debt restructuring we entered into in October 2009," said Chris Gardner, chief executive officer of Vitesse.
As a result of the stockholder approval to increase the number of authorized shares of common stock, the warrants to purchase shares of Citi common stock issued on July 23, 2009 to the U.
Robert Corr, President of RushNet, stated: "Unfortunately, the weak share price has left us no alternative but to increase our total authorized shares to 12 Billion.
NASDAQ:GROW) today announced that its shareholders have approved an increase in authorized shares that enables the company to effect the two-for-one stock split of the Company's outstanding shares of Class A Common Stock and Class C Common Stock announced on November 8, 2006.
Pink Sheets:NMCX) announced today that during the audit of the company's financial statements for the years ended December 31, 2004 and 2005, by the Public Companies Accounting Oversight Board (PCAOB)-registered accounting firm, the Company discovered that the number of shares issued by its in-house transfer agent exceeded the company's authorized shares of common stock.
In addition to the name change, the Schedule 14c also includes the Company's intention to increase the Company's authorized shares of capital stock from 200 million to 500 million, consisting of 400 million authorized shares of common stock and 100 authorized shares of preferred stock.
The second closing will occur within five business days after the date that the Company files a preliminary proxy statement with the SEC with respect to stockholder approval of an increase in the number of its authorized shares of common stock to at least 575,000,000 and a one-for-fifty reverse stock split of its common stock.

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