Exact(12)
Many funds that have issued preferred stock in the last year say they have done so to bolster returns.
Polaroid has been deep in debt since 1988, when it bought back shares, created an employee stock ownership plan and issued preferred stock, all to fight off a takeover by Shamrock Holdings, an investor group led by Walt Disney's nephew, Roy E. Disney.
Venture investors are typically issued preferred stock that, in the event of an IPO, converts to common shares, based on a given formula.
This could make the LLC's tax situation far more complex than expected, especially if the LLC ignored John Frankel's advice and issued convertible notes as an LLC before it converted to a corporation and issued preferred stock.
The proceeds have also enabled PCPI to pay off $92,500 in overdue dividends owed to holders of previously issued preferred stock, spokesman Don Irby said Wednesday.
In exchange, the banks issued preferred shares to the government.
Similar(48)
Mr. Einhorn, though, wants Apple to consider issuing preferred stock.
But a second amendment proposed to eliminate the ability of directors to issue preferred stock.
Apple has said that even with the charter change, it could issue preferred stock with shareholder approval.
A judge in Manhattan is scheduled to hear arguments in Greenlight Capital's effort to prevent Apple from limiting its ability to issue preferred stock.
Last week, the investor David Einhorn sued Apple, in which his hedge fund has a large stake, over how the company can issue preferred stock.
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