tZERO Group Preferred Equity Series A
Security Type: Non-Cumulative Perpetual Preferred Stock
Ticker Symbol: TZROP
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CUSIP: 87320A206
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Exchange: OTC (tZERO)
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TZROP ERC-20 tokens each representing an interest in a share of tZERO Group Preferred Stock, Series A, liquidation preference $0.10 per share, redeemable at the issuer’s option at the higher of $10 per share or fair market value, plus declared and unpaid dividends, and with no stated maturity.
Non-cumulative distributions of 10% of Gross Profit will be paid quarterly on a pro rata basis across the shares of Series A to holders of record on the declaration date, but shall only be declared and paid if the company's consolidated GAAP net income for such quarter exceeds 10% of the company's consolidated GAAP gross profit for such quarter.
A dividend, if any, is declared on the last business day of the second calendar month after the end of the fiscal quarter for which the dividend relates, and shall generally be paid within five calendar days of declaration.
At the sole discretion of the company, each dividend may be paid in US dollars, Bitcoin, Ether, or additional shares of Series A (a PIK dividend). The company shall be permitted to pay each dividend in one or any combination of the foregoing methods.
Non-cumulative distributions of 10% of Gross Profit will be paid quarterly on a pro rata basis across the shares of Series A to holders of record on the declaration date, but shall only be declared and paid if the company's consolidated GAAP net income for such quarter exceeds 10% of the company's consolidated GAAP gross profit for such quarter.
A dividend, if any, is declared on the last business day of the second calendar month after the end of the fiscal quarter for which the dividend relates, and shall generally be paid within five calendar days of declaration.
At the sole discretion of the company, each dividend may be paid in US dollars, Bitcoin, Ether, or additional shares of Series A (a PIK dividend). The company shall be permitted to pay each dividend in one or any combination of the foregoing methods.
First f
First Issuance: 12 Oct 2018 (private placement)
Shares Outstanding: 21,199,208 at 30 Sep 2023 (26,228,711 authorized)
First Issuance: 12 Oct 2018 (private placement)
Shares Outstanding: 21,199,208 at 30 Sep 2023 (26,228,711 authorized)
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