Florida | Investment Law
Legal Question
I have an LLC. It is wholly owned by two partners. My partner would like to raise capital utilizing a format of 15,000 Shares of 12% Cumulative Non-Voting
Redeemable Series A Preferred Stock Offered at $100 per Share. There is no mandatory redemption.
I questioned whether we would be able to issue preferred stock at all considering we were a LLC. Let alone a third suggestion of a convertible debenture into common stock. An LLC doesn't even have common stock correct? Please Help.
Share This On:
Legal Answer
This area is very complicated and you really should see a lawyer. Raising capital by selling newly issued shares to others creates a whole host of issues. Be smart. Sit down with a corporate lawyer now.
Share This On:
Wagner, Vaughan & McLaughlin, P.A. 601 Bayshore Boulevard; Suite 910 Tampa, FL 33606
► Other answers from this attorney
