BioDrain and Longport Holdings Post-Merger Capitalization Table and Term Sheet Amendment
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Summary
This document outlines the post-merger capitalization structure for BioDrain and Longport Holdings, detailing share allocations among original shareholders, bridge loan participants, private placement investors, option holders, and deal principals. It includes scenarios for different pre-money valuations, PIPE raises, and the effects of a reverse stock split. The agreement specifies the number and percentage of shares each group will hold after the merger and financing, as well as the terms for warrants and option pools. All figures are subject to change based on final financing terms. The document is signed by representatives of both companies.
EX-10.49 12 v145284_ex10-49.htm Unassociated Document
BioDrain Capitalization Table Post Merger, Post Financing*
$2 Million Pre-Money
$150K Bridge Loan at $750k Pre-Money
| Fully Diluted Outstanding | ||||||||
| Shares at Closing | ||||||||
| Number | Percent | |||||||
| BioDrain Original Shareholders | 2,400,000 | 18.52 | % | |||||
| Bridge Loan | 882,353 | 8.81 | % | |||||
| Bridge Loan Warrants | 882,353 | 8.81 | % | |||||
| Option Pool | 824,541 | 8.36 | % | |||||
| Executive Management Group Options | 600,000 | 4.63 | % | |||||
| Private Placement Investors | 2,824,137 | 21.79 | % | |||||
| Private Placement Warrants* | 2,824,137 | 21.79 | % | |||||
| Deal Principals | 1,723,314 | 13.30 | % | |||||
| Fully diluted shares, post merger, post financing* | 12,960,834 | 100.00 | % | |||||
*all share counts and percentages subject to change if PIPE table varies from $1 2 million,
Equity incentive plan is adjusted or if Bridge amount changes from $.150M
Warrants on bridge loan strike price equal to $0.42 cents
Deal principal shares equal to 17% of fully diluted shares outstanding at closing less
private placement warrants
**Warrants issued are equivalent to 100% of Pipe raise at $0.55 strike price
| Pre-Money | $ | 2,000,000 | ||
| Pre-Money Per share | 0.42 | |||
| Bridge Loan Conversion | 0.17 | |||
| Share Conversion - $150K | 882,363 | |||
| Pipe Raise | $ | 1,200,000 | ||
| Shares issued | 2,824,137 |
Agreed, /s/ Kevin Davidson 7/18/07
Kevin Davidson, President and CEO
Longport Holdings 7/19/07
/s/ Sean Fitzpatrick
[Amendment to 7/19/07 Capitalization Table Term Sheet]
| BioDrain Capitalization Table Post Merger, Post Financing* | BioDrain Capitalization Table Post Merger, Post Financing* | |||||||||||||||||
| $1.5 Million Pre-Money, $800k PIPE Raise | $1.5 Million Pre-Money, $1.2MM PIPE Raise | |||||||||||||||||
| $150K Bridge Loan at $750k Pre-Money | $150K Bridge Loan at $750k Pre-Money | |||||||||||||||||
| Adjusted for 1.25 reverse split | Adjusted for 1.25 reverse split | |||||||||||||||||
| Fully Diluted Outstanding | Fully Diluted Outstanding | |||||||||||||||||
| Shares at Closing | Shares at Closing | |||||||||||||||||
| Number | Percent | Number | Percent | |||||||||||||||
| BioDrain Original Shareholders | 1,920,000 | 18.52 | % | BioDrain Original Shareholders | 1,920,000 | 14.88 | % | |||||||||||
| Bridge Loan | 620,096 | 5.98 | % | Bridge Loan | 620,096 | 4.81 | % | |||||||||||
| Bridge Loan Warrants | 620,096 | 5.98 | % | Bridge Loan Warrants | 620,096 | 4.81 | % | |||||||||||
| Option Pool | 1,180,480 | 11.39 | % | Option Pool | 1,180,480 | 9.15 | % | |||||||||||
| Private Placement Investors | 2,285,715 | 22.05 | % | Private Placement Investors | 3,428,571 | 26.57 | % | |||||||||||
| Private Placement Warrants** | 2,285,715 | 22.05 | % | Private Placement Warrants** | 3,428,571 | 26.57 | % | |||||||||||
| Deal Principals | 1,454,573 | 14.03 | % | Deal Principals | 1,705,444 | 13.22 | % | |||||||||||
| Fully diluted shares, post merger, post financing* | 10,366,675 | 100.00 | % | Fully diluted shares, post merger, post financing* | 12,903,259 | 100.00 | % | |||||||||||
| *all share counts and percentages subject to change if PIPE raise varies from $800k, | *all share counts and percentages subject to change if PIPE raise varies from $1.2million, | |||||||||||||||||
| Equity Incentive plan is adjusted or if Bridge amount changes from $.150M | Equity Incentive plan is adjusted or if Bridge amount changes from $.150M | |||||||||||||||||
| Warrants on bridge loan strike price equal to $0.35 cents | Warrants on bridge loan strike price equal to $0.35 cents | |||||||||||||||||
| Deal principal shares equal to 18% of fully diluted shares outstanding at closing less | Deal principal shares equal to 18% of fully diluted shares outstanding at closing less | |||||||||||||||||
| private placement warrants | private placement warrants | |||||||||||||||||
| ** Warrants issued are equivalent to 100% of Pipe raise at $0.46 strike price | ** Warrants issued are equivalent to 100% of Pipe raise at $0.46 strike price | |||||||||||||||||
| Pre-Money | $ | 1,500,000 | Pre-Money | $ | 1,500,000 | |||||||||||||
| Pre-Money Per share | 0.35 | 0.345569 | Pre-Money Per share | 0.35 | 0.345569 | |||||||||||||
| Bridge Loan Conversion Price | 0.24 | Bridge Loan Conversion Price | 0.24 | |||||||||||||||
| Share Conversion - $150K | 620,096 | Share Conversion - $150K | 620,096 | |||||||||||||||
| Pipe Raise | $ | 800,000 | Pipe Raise | $ | 1,200,000 | |||||||||||||
| Shares Issued | 2,285,715 | 2,285,714.3 | Shares Issued | 3,428,571 | 3,428,571.4 | |||||||||||||
| Deal Principal Shares | 1,454,573 | Deal Principal Shares | 1,705,444 | |||||||||||||||
| Deal Principal Share % Excluding PIPE Warrants | 18.00 | % | Deal Principal Share % Excluding PIPE Warrants | 18.00 | % | |||||||||||||
| Reverse Split | 1.25 | Reverse Split | 1.25 | |||||||||||||||
