Review Certificate of Designation of Series A Convertible Preferred Stock (CD) of Riffpad, Inc. and then...

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Review Certificate of Designation of Series A Convertible Preferred Stock ("CD") of Riffpad, Inc. and then answer the following questions. Assume that Riffpad filed the CD with the Delaware Division of Corporations on January 1, 2016 and issued all 10,000 shares of Series A Preferred Stock on that date to Sjo- Time Fund IX, LP ("Slo-Time") and all 10,000 shares remain outstanding, 1. What is the dollar amount of Accruing Dividends per share of Series A Preferred Stock on June 30, 2018 assuming that Riffpad has never paid a dividend on its Series A Preferred Stock? 2. If Riffpad were to liquidate on June 30, 2019, and assuming that Riffpad had never paid a dividend on its Series A Preferred Stock as of that date, what is the dollar amount per share of the preferential payment described in section 2.1 of the Certificate of Designation? Review Certificate of Designation of Series A Convertible Preferred Stock ("CD") of Riffpad, Inc. and then answer the following questions. Assume that Riffpad filed the CD with the Delaware Division of Corporations on January 1, 2016 and issued all 10,000 shares of Series A Preferred Stock on that date to Sjo- Time Fund IX, LP ("Slo-Time") and all 10,000 shares remain outstanding, 1. What is the dollar amount of Accruing Dividends per share of Series A Preferred Stock on June 30, 2018 assuming that Riffpad has never paid a dividend on its Series A Preferred Stock? 2. If Riffpad were to liquidate on June 30, 2019, and assuming that Riffpad had never paid a dividend on its Series A Preferred Stock as of that date, what is the dollar amount per share of the preferential payment described in section 2.1 of the Certificate of Designation?

Answer rating: 100% (QA)

1 According to section 22 of the typical Certificate of Designation the Accruing Dividend p... View the full answer