It's really uncommon to authorize blank check preferred. That's an interesting idea to keep things confidential, but the major stockholders will care more abou

It's really uncommon to authorize blank check preferred. That's an interesting idea to keep things confidential, but the major stockholders will care more about maintaining the power over the authorization of new shares. Blank check preferred is only really used, as far as I have heard, as a takeover defense for public companies worried about hostile takeovers, and even there I don't think it's that common anymore.