What is the par value of the preferred stock issued by Southern Steer?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
ny had a balance of $0 and $249.
5. Preferred Stock
At multiple dates in fiscal year 2024, the company issued preferred stock to each of its three stockholders. The stock has a par value of $1,000 and the company issued
Source: Item 5 — and 7 of the FDD, Section 3.1 of the Franchise Agreement and Section 4.1 of the Multi-Unit Development Agreement are hereby amended to state that payment of the initial franchise fee and development fee will be deferred until We have satisfied Our pre-opening obligations, and You have commenced business operations. (FDD pages 168–290)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the company issued preferred stock to its three stockholders at multiple dates in fiscal year 2024. The par value of this stock is $1,000. Southern Steer authorized and issued 365 shares between the three stockholders.