Convertible preferred stock has a special provision that makes it convertible it to common stock if the corporation chooses to.

Name: Convertible preferred stock has a special provision that makes it convertible it to common stock if the corporation chooses to.
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Convertible preferred stock has a special provision that allows the holder, not the corporation, to convert it into a certain number of shares of common stock, typically at predetermined times and prices.

Convertible Preferred Stock Has a Special Provision That Makes It