Confirmation of SEDA Termination and Warrant Status between YA Global Investments, LP and Power of the Dream Ventures, Inc.

Contract Categories: Business Finance › Equity Distribution Agreements
Summary

YA Global Investments, LP confirms receipt of Power of the Dream Ventures, Inc.'s request to terminate their Standby Equity Distribution Agreement (SEDA) dated October 8, 2008. The SEDA will officially end 15 trading days after the notice, around October 15, 2010. However, the Warrant to purchase 4,027,386 shares, issued to the investor in connection with the SEDA, remains valid and cannot be canceled by the company before its expiration on October 8, 2013.

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EX-1.0 2 ex1_0.htm EXHIBIT 1.0 ex1_0.htm
Exhibit 1.0
 
YA GLOBAL INVESTMENTS, LP
101 Hudson Street, Suite 3700
Jersey City, NJ 07302

October 5, 2010

Mr. Victor Rozsnyay
Power of the Dream Ventures, Inc.
1095 Budapest
Soroksari ut 94-96
Hungary
Fax: +36-1 ###-###-####

 
Re:
Standby Equity Distribution Agreement ("SEDA") between YA Global Investments, LP ("Investor") and Power of the Dream Ventures, Inc. (the "Company") dated October 8, 2008 and Warrant to purchase 4,027,386 shares of common stock (the "Warrant") issued to the Investor on October 8, 2008.

Dear Mr. Rozsnyay:

This letter is to confirm that we received your SEDA Termination Request letter dated September 24, 2010. Pursuant to the terms of the SEDA, the SEDA will officially be terminated 15 trading days from the date of your notice, on or about October 15, 2010.

Please note that the Warrant issued in connection with the SEDA may not be canceled unilaterally by the Company. The Warrant expires pursuant to its terms on October 8, 2013.

If you have any questions concerning the foregoing, please feel free to call me at ###-###-####.

 
Sincerely,
 
/s/ David Fine
 
David Fine

cc:
Loeb & Loeb LLP
 
345 Park Avenue
 
New York, NY 10154
 
Attention: Lloyd L. Rothenberg, Esq.
 
Fax ###-###-####