convertible preferred stock
noun
preferred stock that can be exchanged for a fixed number of shares of the common stock of the issuing company at the holder's option.
Words Nearby convertible preferred stock
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use convertible preferred stock in a sentence
In January 2020, Penn National Gaming bought a 36% stake in Barstool Sports for approximately $163 million cash and convertible preferred stock, according to the company’s announcement.
‘We are the media company’: Sportsbooks are spending millions on media deals, but publishers should hedge their bets | Kayleigh Barber | November 1, 2021 | Digiday
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