Document:

exv4w3

 

Exhibit 4.3

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM,
OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. SEE REVERSE SIDE.

12% MANDATORILY CONVERTIBLE

PREFERRED STOCK

QUINTANA MARITIME LIMITED

INCORPORATED UNDER THE LAWS OF THE REPUBLIC OF THE MARSHALL ISLANDS

THIS CERTIFICATE IS TRANSFERABLE IN CANTON, MA, JERSEY CITY, NJ OR NEW YORK, NY

CUSIP Y7169G 12 5

SEE REVERSE FOR CERTAIN DEFINITIONS

THIS CERTIFIES that

SPECIMEN

is the owner of

FULLY PAID AND NON-ASSESSABLE SHARES OF THE 12% MANDATORILY CONVERTIBLE PREFERRED STOCK, PAR VALUE $.01 PER SHARE, OF

Quintana Maritime Limited

(hereinafter called the “Corporation”) transferable on the books of the
Corporation by the holder hereof, in person or by duly authorized attorney, upon surrender of this
Certificate properly endorsed. This Certificate is not valid unless countersigned by the Transfer
Agent and registered by the Registrar.

     The Corporation will furnish without charge to each shareholder who so requests a full statement of
the designations, preferences, limitations and relative rights of each class of stock or series
thereof of the Corporation and the variations in the relative rights and preferences between the
shares of any series of preferred stock, so far as the same have been fixed and determined, and the
authority of the board of directors to fix and determine the relative rights and preferences of any
series of preferred stock. Such requests may be made to the Corporation or to the transfer agent.

     This Certificate and the shares represented hereby are issued and shall be subject to all of the
provisions of the Restated and Amended Articles of Incorporation of the Corporation and Statement
of Designations providing for the issue of shares of the 12% Mandatorily Convertible Preferred
Stock (copies of which are on file with the office of the Secretary of the Corporation) to all of
which the holder by acceptance hereof assents. The 12% Mandatorily Convertible Preferred Stock
represented by this certificate is non-voting.

     WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized
officers.

Dated:

CHIEF EXECUTIVE OFFICER

(SEAL)

CHIEF FINANCIAL OFFICER

	 
	COUNTERSIGNED AND REGISTERED

	COMPUTERSHARE TRUST COMPANY, N.A.

	TRANSFER AGENT AND REGISTRAR

	By 

	 AUTHORIZED SIGNATURE

	AMERICAN BANK NOTE COMPANY

 

ABBREVIATIONS

     The
following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	TEN COM

	 	—
	 	as tenants in common
	 	UNIF GIFT MIN ACT
	—	 	 	Custodian	 	 
	 

	 	 	 	 	 	 	 	 
	 	 	 	 
	TEN ENT

	 	—
	 	as tenants by the entireties
	 	 	 	(Cust)
	 	 	 	(Minor)
	JT TEN

	 	—
	 	as joint tenants with right of
	 	 	 	under Uniform Gifts to Minors

	 

	 	 	 	survivorship and not as tenants
	 	 	 	Act	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 	 
	 	 
	 

	 	 	 	in common
	 	 	 	 	 	(State)	 	 

Additional abbreviations may also be used though not in the above list.

     FOR VALUE RECEIVED,                                                     
                                                                     hereby sell, assign and
transfer unto

	 	 	 
	PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE

	 	 

	 	 	 
	 	 	 

	 
	 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

	 

	 

	 

	 

	 

	 

	 

	                                                               
                                                                                    
                      Shares

	of the Preferred Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint.

	 

	            
                                                                           
            
             
                                                Attorney

	to transfer the said Shares on the books of the within named Corporation with full power of substitution in the premises.

	 	 	 	 	 
	Dated  
	 	 	 	 
	 
	 
	 
	 	 	 	 
	 

	 	 	 	Signature(s):
	 
	 	 	 	 
	 

	 	X	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	X	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	Signature(s) Guaranteed

	 	NOTICE:
	 	THE SIGNATURE OF THIS ASSIGNMENT
MUST CORRESPOND WITH THE NAME AS WRITTEN
UPON THE FACE OF THE CERTIFICATE IN
EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT OR ANY
CHANGE WHATEVER.

	 	 	 
	By
 

	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.
	 	 

THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT IT IS AN INSTITUTIONAL
“ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPHS
(a)(1), (2), (3) AND (7) OF RULE 501
UNDER THE SECURITIES ACT OR AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) WHO IS AN OFFICER
OR DIRECTOR OF THE CORPORATION AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
PRIOR TO THE DATE WHICH IS TWO YEARS (OR SUCH SHORTER PERIOD AS MAY BE PRESCRIBED BY RULE 144(K)
(OR ANY SUCCESSOR PROVISION THEREOF UNDER THE SECURITIES ACT) AFTER THE LATER OF THE ORIGINAL ISSUE
DATE HEREOF (OR ANY PREDECESSOR OF THIS SECURITY) AND THE LAST DATE ON WHICH THE CORPORATION OR ANY
AFFILIATE OF THE CORPORATION WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),
ONLY (A) TO THE CORPORATION OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT (C) TO AN “ACCREDITED INVESTOR” WITHIN
THE MEANING OF SUBPARAGRAPH (a) OF RULE 501 UNDER THE SECURITIES ACT OF THE TYPE REFERRED TO IN
CLAUSE (1) ABOVE THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN
ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN
CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT
OR (D) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND THE SECURITIES
LAWS OF ANY OTHER JURISDICTION, INCLUDING ANY STATE OF THE UNITED STATES, SUBJECT TO THE
CORPORATION’S OR TRANSFER AGENT’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
PURSUANT TO CLAUSES (C) OR (D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND DELIVERED BY THE TRANSFEROR TO THE
TRUSTEE OR TRANSFER AGENT, AND SHALL OTHERWISE COMPLY WITH THE REQUIREMENTS OF THE SUBSCRIPTION
AGREEMENT AND REGISTRATION RIGHTS AGREEMENT. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE
HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

THIS SECURITY WAS INITIALLY ISSUED AS PART OF AN ISSUANCE OF UNITS, EACH OF WHICH CONSISTS OF
$93.75 AMOUNT OF THE CORPORATION’S 12% MANDATORILY CONVERTIBLE PREFERRED STOCK AND FOUR CLASS A
WARRANTS TO PURCHASE A SHARE OF THE CORPORATION’S COMMON STOCK. PRIOR TO THE EARLIEST TO OCCUR OF
(I) 180 DAYS AFTER THE CLOSING OF THE OFFERING OF THE UNITS, (II) THE DATE ON WHICH A REGISTRATION
STATEMENT WITH RESPECT TO THE SECURITIES IS DECLARED EFFECTIVE UNDER THE SECURITIES ACT OF 1933 AND
(III) SUCH DATE AS DAHLMAN ROSE & COMPANY, LLC IN ITS SOLE DISCRETION SHALL DETERMINE, THE SECURITY
EVIDENCED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED OR CONVERTED SEPARATELY FROM EACH OTHER, BUT
MAY BE TRANSFERRED OR CONVERTED ONLY AS A UNIT.exv4w4

 

     

Exhibit 4.4

THIS WARRANT IS EXERCISABLE AT ANY TIME IF THE HOLDERS OF THE CORPORATION’S COMMON STOCK APPROVE
THE CONVERSION REFERRED TO BELOW AND TERMINATES AT 5:00 PM, NEW YORK CITY TIME, ON MAY 11, 2009.

THIS SECURITY AND THE WARRANT SHARES TO BE ISSUED UPON ITS EXERCISE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933. AS AMENDED, OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY, THE
WARRANT SHARES TO BE ISSUED UPON ITS EXERCISE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE
REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE
OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO REGISTRATION. SEE
REVERSE SIDE.

QUINTANA MARITIME LIMITED

INCORPORATED UNDER THE LAWS OF THE REPUBLIC OF THE MARSHALL ISLANDS
THIS CERTIFICATE IS
TRANSFERABLE IN CANTON, MA, JERSEY CITY, NJ OR NEW YORK, NY

CLASS A WARRANT

CUSIP Y7169G 13 3

SEE REVERSE FOR CERTAIN DEFINITIONS

THIS CERTIFIES that

SPECIMEN

is the registered holder of a Warrant or Warrants expiring May 11, 2009 (the “Warrant”) to purchase
one fully paid and non-assessable share of Common Stock, par value $0.1 per share (“Shares”), of
Quintana Maritime Limited, a Marshall Islands corporation (the “Corporation”), for each Warrant
evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase from the
Corporation, commencing on the date the holders of the Shares approve the conversion (the
“Conversion”) of the Corporation’s 12% Mandatorily Convertible Preferred Stock, Shares of the
Corporation at the price of $8.00 per share (the “Warrant
Price”), subject to adjustment, upon
surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of
the Warrant Agent (such payment to be made by check made payable to the Warrant Agent), subject to
the conditions set forth herein and in the Warrant Agreement, dated May 11, 2006 (the “Warrant
Agreement”), between the Corporation and Computershare Trust Company, N.A. (the “Warrant Agent”).

     No fraction of a Share will be issued upon any exercise of a Warrant. If the holder of a
Warrant would be entitled to receive a fraction of a Share upon any exercise of a Warrant, the
Corporation shall, upon such exercise, round up to the nearest whole number the number of Warrant
Shares to be issued to such holder. The Warrant represented by this Warrant Certificate is
non-voting.

     Upon any exercise of the Warrant for less than the total number of shares provided for herein,
there shall be issued to the registered holder hereof or his assignee a new Warrant Certificate
covering the number of Shares for which the Warrant has not been exercised. Warrant Certificates,
when surrendered at the office or agency of the Warrant Agent by the registered holder hereof in
person or by attorney duly authorized in writing, may be exchanged in the manner and subject to the
limitations provided in the Warrant Agreement, but without payment of any service charge, for
another Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate
a like number of Warrants.

     Upon due presentment for registration of transfer of the Warrant Certificate at the office or
agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and
evidencing in the aggregate a like number of Warrants shall be issued to the transferee in
exchange for this Warrant Certificate, subject to the limitations provided in the Warrant
Agreement, without charge except for any applicable tax or other governmental charge.

     The Corporation and the Warrant Agent may deem and treat the registered holder as the absolute
owner of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon
made by anyone), for the purpose of any exercise hereof, of any distribution to the registered
holder and for all other purposes, and neither the Corporation nor the Warrant Agent shall be
affected by any notice to the contrary.

     This Warrant does not entitle the registered holder to any of the rights of a stockholder of the
Corporation. The number of Warrants represented by this Warrant Certificate may be adjusted from
time to time as set forth in the Warrant Agreement.

     If the holders of the Corporation’s Shares do not approve the Conversion on or prior to
December 31, 2006, the Corporation will be required to redeem the Warrants at a redemption price
of $0.50 per Warrant. Any Warrant either not exercised or tendered back to the Corporation by the
end of the date specified in the notice of redemption call shall be canceled on the books of the
Corporation and have no further value except for the applicable redemption price.

     WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.

Dated:

COUNTERSIGNED AND REGISTERED:

          COMPUTERSHARE TRUST COMPANY, N. A.

WARRANT AGENT

By 

AUTHORIZED SIGNATURE

(SEAL)

AMERICAN BANK NOTE COMPANY

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

 

 

EXERCISE FORM

(To Be Executed by the Registered Holder in Order to Exercise Warrants)

     THE UNDERSIGNED REGISTERED HOLDER hereby irrevocably elects to exercise___Warrants
represented by this Warrant Certificate, and to purchase the securities
issuable upon the exercise of such Warrants, and requests that certificates for such securities
shall be issued in the name of:

 

PLEASE
INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER

	 	 	 
	and be delivered to:
	 	 
	 

	 	 
	 

	 	(PLEASE PRINT OR TYPE NAME AND ADDRESS)

 

and, if such number of Warrants shall not be all the Warrants evidenced by this Warrant
Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in
the name of, and delivered to, the Registered Holder at the address stated below:

 

(PLEASE PRINT OR TYPE ADDRESS)

	 	 	 	 	 
	Dated:                                  , 20                     
..

	 	 	 	                                                                                                                        
	 

	 	 	 	Signature(s)
	 
	 	 	 	 
	 

	 	 	 	                                                                                                                        
	 
	 	 	 	 
	                                                            

	 	 	 	         
                                                                                                               
	Signature(s) Guaranteed

	 	 	 	(Social Security or Taxpayer Identification Number)

ASSIGNMENT

(To Be Executed by the Registered Holder or Order to Assign Warrants)

FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER

 

 

(PLEASE PRINT OR TYPE NAME AND ADDRESS)

                                                                  
              
              
             
              
             
            
           of the Warrants

represented by this Warrant Certificate, and hereby irrevocably constitutes and appoints

     
                                                                                                                                attorney to

to transfer this Warrant Certificate on the books of the Corporation, with full power of
substitution in the premises.

	 	 	 	 	 
	Dated:                                         , 20                     
..

	 	 	 	       
                                                                                                                 
	 

	 	 	 	Signature(s)
	 
	 	 	 	 
	 

	 	 	 	       
                                                                                                                 
	 
	 	 	 	 
	                                                            

	 	 	 	        
                                                                                                                
	Signature(s) Guaranteed

	 	 	 	(Social Security or Taxpayer Identification Number)

 

THE SIGNATURE TO THE ASSIGNMENT OR THE EXERCISE FORM MUST CORRESPOND TO THE NAME AS WRITTEN
UPON THE FACE OF THIS CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER FIRM OF A NATIONAL OR REGIONAL OR OTHER RECOGNIZED STOCK EXCHANGE IN CONFORMANCE
WITH A SIGNATURE GUARANTEE MEDALLION PROGRAM.

THE HOLDER OF THIS SECURITY AND THE WARRANT SHARES TO BE ISSUED UPON ITS EXERCISE BY ITS
ACCEPTANCE HEREOF (1) REPRESENTS THAT IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF SUBPARAGRAPH (a)(l), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, OR AN
“ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) WHO IS AN OFFICER OR DIRECTOR OF THE CORPORATION
AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY AND THE WARRANT SHARES TO BE
ISSUED UPON ITS EXERCISE, PRIOR TO THE DATE WHICH IS TWO YEARS (OR SUCH SHORTER PERIOD AS MAY BE
PRESCRIBED BY RULE 144(K) (OR ANY SUCCESSOR PROVISION THEREOF) UNDER THE SECURITIES ACT) AFTER THE
LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR ANY PREDECESSOR OF THIS SECURITY) AND THE LAST DATE ON
WHICH THE CORPORATION OR ANY AFFILIATE OF THE CORPORATION WAS THE OWNER OF THIS SECURITY (OR ANY
PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE CORPORATION OR ANY OF ITS SUBSIDIARIES, (B)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT,
(C) TO AN “ACCREDITED INVESTOR” ABOVE WITHIN THE MEANING OF SUBPARAGRAPH (a) OF RULE 501 UNDER THE
SECURITIES ACT OF THE TYPE REFERRED TO IN CLAUSE (1) ABOVE THAT IS ACQUIRING THE SECURITY AND THE
WARRANT SHARES TO BE ISSUED UPON ITS EXERCISE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN
ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN
CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (D) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND THE SECURITIES
LAWS OF ANY OTHER JURISDICTION, INCLUDING ANY STATE OF THE UNITED STATES, SUBJECT TO THE
CORPORATION’S, OR TRANSFER AGENT’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
PURSUANT TO CLAUSES (C) OR (D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND SHALL OTHERWISE COMPLY WITH THE
REQUIREMENTS OF THE SUBSCRIPTION AND REGISTRATION RIGHTS AGREEMENT. THIS LEGEND WILL BE REMOVED
UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

THIS SECURITY WAS INITIALLY ISSUED AS PART OF AN ISSUANCE OF UNITS, EACH OF WHICH CONSIST OF $93.75
AMOUNT OF THE CORPORATION’S 12% MANDATORILY CONVERTIBLE PREFERRED STOCK AND FOUR CLASS A WARRANTS
TO PURCHASE A SHARE OF THE CORPORATION’S COMMON STOCK. PRIOR TO THE EARLIEST TO OCCUR OF (I) 180
DAYS AFTER THE CLOSING OF THE OFFERING OF THE UNITS, (II) THE DATE ON WHICH A REGISTRATION
STATEMENT WITH RESPECT TO THE SECURITIES IS DECLARED EFFECTIVE UNDER THE SECURITIES ACT OF 1933
AND (III) SUCH DATE AS DAHLMAN ROSE & COMPANY, LLC IN ITS SOLE DISCRETION SHALL DETERMINE, THE
SECURITY EVIDENCED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED OR CONVERTED SEPARATELY FROM EACH
OTHER, BUT MAY BE TRANSFERRED OR CONVERTED ONLY AS A UNIT. THIS SECURITY MAY NOT BE EXERCISED
UNLESS THE HOLDERS OF THE CORPORATION’S COMMON STOCK APPROVE THE CONVERSION OF THE 12%
MANDATORILY CONVERTIBLE PREFERRED STOCK INTO COMMON STOCK IN ACCORDANCE WITH THE STATEMENT OF
DESIGNATIONS OF THE 12% MANDATORILY CONVERTIBLE PREFERRED STOCK.

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