Amendment to Stock Purchase Agreement dated January 25, 2023

Contract Categories: Business Finance - Stock Agreements
EX-10.11 6 ueec_ex1011.htm PURCHASE AGREEMENT ueec_ex1011.htm

EXHIBIT 10.11

 

AMENDMENT TO COMMON STOCK PURCHASE AGREEMENT

 

Reference is made to that certain Common Stock Purchase Agreement (the “Agreement”) dated September 1, 2022 by and between United Health Products, Inc., a Nevada corporation (the “Company”), and White Lion Capital, LLC, a Nevada limited liability company (the “Investor”). The Company and the Investor hereby agree to amend the Agreement as set forth herein (the “Amendment”.) All capitalized terms not defined herein shall carry the meaning ascribed to them in the Agreement.

 

1. The definition of “Purchase Price” shall be amended in its entirety to read as follows:

 

“Purchase Price” shall mean 93% multiplied by the lower of the (i) average daily VWAP of the Common Stock during the Valuation Period or (ii) the most recent closing price of the Company’s Common Stock prior to receipt of Purchase Notice; provided, however, if the Common Stock is trading on any National Exchange, the Purchase Price shall mean 95% multiplied by the lower of the (i) average daily VWAP of the Common Stock during the Valuation Period or (ii) the most recent closing price of the Company’s Common Stock prior to receipt of Purchase Notice, provided that, in the event the Investor agrees to waive the Floor Price restriction set forth in Section 2.1 for any Purchase Notice, the 93% and 95% multiplicands referenced above shall be reduced to 90% and 92%, respectively, for the associated Purchase Notice Shares.

 

All other terms of the Agreement shall remain unchanged.

 

In witness hereof, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized effective as of January 25, 2023.

 

 

UNITED HEALTH PRODUCTS, INC.

 

 

 

 

 

By:

/s/ Brian Thom

Name:

Brian Thom

Title:

Chief Executive Officer

    

 

WHITE LION CAPITAL, LLC

 

 

 

 

 

 

By:

/s/ Nathan Yee

 

 

Name:

Nathan Yee

 

 

Title:

Managing Partner