Extension to Escrow Deposit Agreement among Organovo, Inc., Organovo Holdings, Inc., Spencer Trask Ventures, Inc., and Signature Bank

Contract Categories: Business Finance › Escrow Agreements
Summary

Organovo, Inc., Organovo Holdings, Inc., and Spencer Trask Ventures, Inc. have notified Signature Bank, as escrow agent, that the termination date for their existing escrow deposit agreement has been extended to March 30, 2012. This extension modifies the original agreement, allowing the escrow arrangement to remain in effect until the new final termination date. All parties have agreed to this change and have signed the notice accordingly.

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EX-10.5(3) 13 f8k031912ex10v3_organovo.htm EXTENSION TO ESCROW AGREEMENT f8k031912ex10v3_organovo.htm
Exhibit 10.5(iii)
 
Date: As of January 25, 2012


Signature Bank
261 Madison Avenue
New York, NY 10016
Attention:  Cliff Broder, Group Director and Vice President


Re:           Escrow Account No. 1501725427


Dear Mr. Broder:
 
In accordance with the terms of Section 2(b) of an Escrow Deposit Agreement dated December 1, 2011 by and among ORGANOVO, INC. (the “Company”), SPENCER TRASK VENTURES, INC. (“Spencer Trask”) and SIGNATURE BANK (the “Escrow Agent”), and that certain Joinder Agreement dated January 23, 2012, by an among the Company, Spencer Trask and ORGANOVO HOLDINGS, INC. (“Pubco”), the Company, Pubco and Spencer Trask hereby notify the Escrow Agent that the Termination Date has been extended to March 30, 2012, the Final Termination Date.
 
Very truly yours,

ORGANOVO, INC.
 
By:            /s/ Keith Murphy                                                      
       Name: Keith Murphy                                                                           
       Title:   Chief Executive Officer
 
ORGANOVO HOLDINGS, INC.
 
By:            /s/ Deborah Lovig                                                      
       Name: Deborah Lovig                                                                           
       Title:   President & CEO
 
SPENCER TRASK VENTURES, INC.
 
By:              /s/ John Heidenreich                                                                
        Name: John Heidenreich
        Title:   President