How many shares of City Wide's Class B nonvoting common stock are authorized?

According to City Wide's 2025 Franchise Disclosure Document, the company has authorized 30,000,000 shares of Class B nonvoting common stock with a par value of $.01. Of these authorized shares, 21,000,000 have been issued and are currently outstanding. This information is part of the broader financial overview presented in the FDD, specifically within the context of common stock details.

For a prospective franchisee, understanding the share structure of City Wide can provide insights into the company's capitalization and equity distribution. While nonvoting shares do not grant the holder voting rights in company matters, the large number of authorized and outstanding Class B shares suggests a significant portion of the company's equity may be held by nonvoting shareholders. This could include founders, employees, or other investors who have a financial stake in the company's success but do not participate in corporate governance decisions.

It is important to note that the FDD also lists 300,000 authorized shares of Class A voting common stock, with 210,000 shares issued and outstanding. The existence of both voting and nonvoting shares is a common corporate structure that allows the company to raise capital without diluting the control of the voting shareholders. A potential franchisee might want to inquire about the rights and preferences of each class of stock to fully understand the implications for the franchise system's long-term strategy and stability.

While the FDD provides a snapshot of the authorized and outstanding shares, it does not detail the specific ownership structure or the identities of the shareholders. A prospective franchisee may wish to ask City Wide for more information about the distribution of shares and the rights associated with each class of stock to gain a more complete understanding of the company's financial structure and governance.