Subscription Contract Clauses (1,217)

Grouped Into 38 Collections of Similar Clauses From Business Contracts

This page contains Subscription clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Subscription. Subject to the terms and conditions hereof, at the Closing (as defined below), Subscriber hereby subscribes for and agrees to purchase, and the Company hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Subscribed Shares (such subscription and issuance, the "Subscription"). Subscriber acknowledges and agrees that, as a result of the Domestication, the Subscribed Shares that will be issued pursuant hereto will be shares of Class A common stock in a... Delaware corporation (and not shares in a Cayman Islands exempted company). View More Arrow
Subscription. Subject to On the terms and subject to the conditions hereof, at the Closing (as defined below), Subscriber hereby irrevocably subscribes for and agrees to purchase, purchase from the Company, and the Company hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, Price by or on behalf of Subscriber to the Company, the Subscribed Shares (such subscription and issuance, the "Subscription"). Subscriber acknowledges and agrees the Company acknowledge that, as a... result of the Domestication, the Subscribed Shares that will be issued pursuant hereto will be shares of Class A common stock in a Delaware corporation (and and will not be ordinary shares in of a Cayman Islands exempted company). company. View More Arrow
Subscription. Subject to the terms and conditions hereof, at the Closing (as defined below), Subscriber hereby subscribes agrees to subscribe for and agrees to purchase, and the Company Issuer hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Subscribed Acquired Shares (such subscription and issuance, the "Subscription"). Subscriber acknowledges and agrees that, as a result of the Domestication, the Subscribed Acquired Shares that will be purchased by the Subscriber... and issued by the Issuer pursuant hereto will shall be shares of Class A common stock in a Delaware corporation (and not not, for the avoidance of doubt, ordinary shares in a Cayman Islands exempted company). View More Arrow
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Subscription. The Subscriber hereby subscribes for ____________ Shares (hereinafter "Shares") of the Company's Common Stock, at a price of $1.00 per Share, and herewith tenders to the Company by certified bank funds for the subscription in the amount of US$________________, which the Subscriber tenders herewith as payment for the Shares. This offering will terminate 180 days from the effective date of the Prospectus (as such term is defined below), although we may close the offering on any date prior if the... offering is fully subscribed. As there is no minimum amount of proceeds to be raised, the funds will be deposited in the Company's operating account and used set forth in the Use of Proceeds section of this prospectus. If the Company does not sell all 19,081,038 Shares within 180 days from the date of the Prospectus, the offering for the balance of the Shares will terminate and we will sell no further shares pursuant to the offering. This Subscription Agreement (hereinafter "Subscription") is an offer by the Subscriber to subscribe for the securities offered by the Company, and, subject to the terms hereof, shall become a contract for the sale of said securities upon acceptance thereof by the Company. View More Arrow
Subscription. The Subscriber hereby subscribes for ____________ Shares (hereinafter "Shares") of the Company's Common Stock, at a price of $1.00 $0.50 per Share, and herewith tenders to the Company by certified bank funds for the subscription in the amount of US$________________, which the Subscriber tenders herewith as payment for the Shares. For every two (2) shares of Common Stock purchased, Subscriber shall receive, at no additional cost, a warrant to purchase one (1) share of Common Stock in the form... attached hereto as Exhibit A (the "Warrant"). The Warrant shall have a 5 year term and shall be exercisable at any time after issuance at a price of $1.00 per share. This offering will terminate 180 days from the effective date of the Prospectus (as such term is defined below), although we may close the offering on any date prior if the offering is fully subscribed. As there is no minimum amount of proceeds to be raised, the funds will be deposited in the Company's operating account and used set forth in the Use of Proceeds section of this prospectus. If the Company does not sell all 19,081,038 20,000,000 Shares within 180 days from the date of the Prospectus, the offering for the balance of the Shares will terminate and we will sell no further shares pursuant to the offering. This Subscription Agreement (hereinafter "Subscription") is an offer by the Subscriber to subscribe for the securities offered by the Company, and, subject to the terms hereof, shall become a contract for the sale of said securities upon acceptance thereof by the Company. View More Arrow
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Subscription. The Investor hereby irrevocably subscribes for and agrees to purchase from the Company the number of Shares set forth on the signature page of this Subscription Agreement on the terms and subject to the conditions provided for herein. The Investor acknowledges and agrees that the Company reserves the right to accept or reject the Investor's subscription for the Shares for any reason or for no reason, in whole or in part, at any time prior to its acceptance, and the same shall be deemed to be... accepted by the Company only when this Subscription Agreement is signed by a duly authorized person by or on behalf of the Company; the Company may do so in counterpart form. View More Arrow
Subscription. The Investor hereby irrevocably subscribes for and agrees to purchase from the Company the number of Shares set forth on the signature page of this Subscription Agreement on the terms and subject to the conditions provided for herein. The Investor acknowledges and agrees that the Company reserves the right to accept or reject the Investor's subscription for the Shares for any reason or for no reason, in whole or in part, at any time prior to its acceptance, and the same shall be deemed to be... accepted by the Company only when this Subscription Agreement is signed by a duly authorized person by or on behalf of the Company; Company and PFDR; the Company and PFDR may each do so in counterpart form. For purposes of clarity, the number of shares being subscribed for and the purchase price are established after giving effect to the stock split contemplated by the Business Combination Agreement that will be effected prior to the Closing of the sale of Shares contemplated hereby. View More Arrow
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Subscription. Each undersigned Subscriber hereby subscribes to purchase the number of shares of Common Stock equal to the Investment Amount set forth on its respective signature page attached hereto divided by the Per Share Price, subject to the terms and conditions of this Agreement and based on the representations, warranties, covenants and agreements contained herein. The Company may accept subscriptions and deposit funds in its corporate account in one or several closings (each a "Closing") that will... occur on or before August 31, 2017. No minimum amount must be raised for the Company to have a Closing and Subscriber funds will be deposited directly into the Company's operating bank account as no escrow account is being used for this Offering. View More Arrow
Subscription. Each undersigned Subscriber hereby subscribes to purchase the number of shares of Common Stock equal to the Investment Amount set forth on its respective signature page attached hereto divided by the Per Share Price, subject to the terms and conditions of this Agreement and based on the representations, warranties, covenants and agreements contained herein. The Company may accept subscriptions and deposit funds in its corporate account in one or several closings (each a "Closing") that will... occur on or before August March 31, 2017. 2018. No minimum amount must be raised for the Company to have a Closing and Subscriber funds will be deposited directly into the Company's operating bank account as no escrow account is being used for this Offering. View More Arrow
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Subscription. 2.2 The Investor (i) is, if a natural person, at least twenty-one (21) years of age, and (ii) is a bona fide permanent resident of and is domiciled in the state shown in the address line of Investor's signature page to this Agreement, and has no present intention of becoming a resident of any other state or jurisdiction. 2.3 The Investor has received if requested or has access to and has reviewed the Company's reports and filings required to be filed by the Company with the U.S. Securities and... Exchange Commission (the "SEC") under the Securities Exchange Act of 1934 (the "Exchange Act"), including, without limitation the Company's Form 10-K filed March 14, 2018, Form 10-K/A filed May 9, 2018, Form 10-Q filed November 7, 2018, and Forms 8-K filed November 7, 2018, November 13, 2018, December 3, 2018, December 6, 2018, January 2, 2019, and February 5, 2019. 2.5 The Investor is acquiring the Securities for his own account, for investment purposes only, and not with a view toward the resale, resyndication, distribution, subdivision or fractionalization thereof, and has no present intention of selling or transferring or otherwise distributing the same. 2.6 The Investor is aware that all documents, records and books pertaining to this investment are available at the offices of the Company at 100 Commerce Drive, Loveland, Ohio 45140, and acknowledges that all documents, records and books pertaining to this investment requested by the Investor have been made available to the Investor and the persons the Investor has retained, if any, to advise him with respect to this investment, and the Investor and such persons have been supplied with such additional information concerning this investment as has been requested. 2.7 The Investor has been given the opportunity to discuss his investment in, and the operation of, the Company with the Company's management and has been given all information that the Investor has requested and which the Investor deems relevant to his decision to invest in the Company. 2.8 The Investor agrees that the Securities (including any interest therein) will not be sold or otherwise disposed of by the Investor unless either (i) the sale or other disposition will be pursuant to a registration statement under the Securities Act of 1933, as amended (the "1933 Act"), and any applicable securities laws of any state or other jurisdiction; or (ii) the Investor shall have notified the Company in writing of any desire on the part of the Investor to sell or dispose of all or part of the such Securities and of the manner and terms of the proposed transaction, and the Company shall have been advised in writing by counsel acceptable to it that no registration of such Securities under the 1933 Act, or the rules and regulations then in effect thereunder, or any applicable state securities laws, is required in connection with the proposed sale or other disposition. 2.10 The Investor understands that no federal or state agency has passed on or made any recommendation or endorsement of the Securities and that the Company is relying on the truth and accuracy of the representations, warranties and agreements made by him in offering the Securities for sale to him without having first registered the same under the 1933 Act. 2.11 The Investor acknowledges that there have been no representations, guarantees or warranties made to him by the Company, its officers, directors, controlling persons, agents or employees or any other person, expressly or by implication, with respect to the amount of or type of consideration, profit or loss (including tax benefits) to be realized, if any, as a result of his investment. 2.12 Investor acknowledges and understands that the Company possesses material non-public information not known to Investor that may affect the value of the Securities (the "Information"), that the Company is unable to disclose to Investor. 2.13 Investor agrees that the Company and its affiliates, principals, stockholders, partners, employees and agents shall have no liability to Investor, whatsoever due to or in connection with Company's use or non-disclosure of the Information or otherwise as a result of the transaction contemplated hereby, and Investor hereby irrevocably waives any claim that he might have based on the failure of the Company to disclose the Information. 2.14 Investor has all requisite authority (and in the case of an individual, the capacity) to purchase the Securities, enter into this Agreement and to perform all the obligations required to be performed by Investor hereunder, and such purchase will not contravene any law, rule or regulation binding on Investor or any investment guideline or restriction applicable to Investor. View More Arrow
Subscription. 2.2 The Investor (i) is, if a natural person, at least twenty-one (21) years of age, and (ii) is a bona fide permanent resident of and is domiciled in the state shown in the address line of Investor's signature page to this Agreement, and has no present intention of becoming a resident of any other state or jurisdiction. 2.3 The Investor has received if requested or has access to and has reviewed the Company's reports and filings required to be filed by the Company with the U.S. Securities and... Exchange Commission (the "SEC") under the Securities Exchange Act of 1934 (the "Exchange Act"), including, without limitation the Company's Form 10-K filed March 14, 2018, Form 10-K/A filed May 9, 2018, Form 10-Q filed November 7, 2018, 21, 2017. 2.4 The Investor has such knowledge and Forms 8-K filed November 7, 2018, November 13, 2018, December 3, 2018, December 6, 2018, January 2, 2019, experience in financial and February 5, 2019. business matters that the Investor is capable of evaluating the merits and risks of an investment in the Securities and of making an informed investment decision, and is not utilizing any other person to be the Investor's representative in connection with evaluating such merits and risks. 2.5 The Investor is acquiring the Securities for his own account, for investment purposes only, and not with a view toward the resale, resyndication, distribution, subdivision or fractionalization thereof, and has no present intention of selling or transferring or otherwise distributing the same. 2.6 The Investor is aware that all documents, records and books pertaining to this investment are available at the offices of the Company at 100 Commerce Drive, Loveland, Ohio 45140, 7107 Industrial Road, Florence, Kentucky 41042, and acknowledges that all documents, records and books pertaining to this investment requested by the Investor have been made available to the Investor and the persons the Investor has retained, if any, to advise him with respect to this investment, and the Investor and such persons have been supplied with such additional information concerning this investment as has been requested. 2.7 The Investor has been given the opportunity to discuss his investment in, and the operation of, the Company with the Company's management and has been given all information that the Investor has requested and which the Investor deems relevant to his decision to invest in the Company. 2.8 The Investor agrees that the Securities (including any interest therein) will not be sold or otherwise disposed of by the Investor unless either (i) the sale or other disposition will be pursuant to a registration statement under the Securities Act of 1933, as amended (the "1933 Act"), and any applicable securities laws of any state or other jurisdiction; or (ii) the Investor shall have notified the Company in writing of any desire on the part of the Investor to sell or dispose of all or part of the such Securities and of the manner and terms of the proposed transaction, and the Company shall have been advised in writing by counsel acceptable to it that no registration of such Securities under the 1933 Act, or the rules and regulations then in effect thereunder, or any applicable state securities laws, is required in connection with the proposed sale or other disposition. 2.9 All information provided by the Investor to the Company is true and correct in all respects as of the date hereof, and if there should be any material change in such information either prior to the Company accepting the Investor's subscription or thereafter, the Investor will immediately furnish such revised or corrected information to the Company. 2.10 The Investor understands that no federal or state agency has passed on or made any recommendation or endorsement of the Securities and that the Company is relying on the truth and accuracy of the representations, representations warranties and agreements made by him in offering the Securities for sale to him without having first registered the same under the 1933 Act. 2.11 The Investor acknowledges that there have been no representations, guarantees or warranties made to him by the Company, its officers, directors, controlling persons, agents or employees or any other person, expressly or by implication, with respect to the amount of or type of consideration, profit or loss (including tax benefits) to be realized, if any, as a result of his investment. 2.12 Investor acknowledges and understands that the Company possesses material non-public information not known to Investor that may affect the value of the Securities (the "Information"), that the Company is unable to disclose to Investor. 2.13 Investor agrees that the Company and its affiliates, principals, stockholders, partners, employees and agents shall have no liability to Investor, whatsoever due to or in connection with Company's use or non-disclosure of the Information or otherwise as a result of the transaction contemplated hereby, and Investor hereby irrevocably waives any claim that he might have based on the failure of the Company to disclose the Information. 2.14 Investor has all requisite authority (and in the case of an individual, the capacity) to purchase the Securities, enter into this Agreement and to perform all the obligations required to be performed by Investor hereunder, and such purchase will not contravene any law, rule or regulation binding on Investor or any investment guideline or restriction applicable to Investor. 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Subscription. The Subscriber hereby subscribes for and agrees to purchase from the Company the number of Units set forth on the Signature Page, subject to acceptance by the Company, in whole or in part, in its absolute discretion.
Subscription. The Subscriber hereby subscribes for and agrees to purchase from the Company the number of Units dollar amount set forth on the Signature Page, subject to acceptance by the Company, in whole or in part, in its absolute discretion.
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Subscription. The undersigned (the "Purchaser"), intending to be legally bound, hereby irrevocably agrees to purchase from CytoDyn Inc., a Colorado corporation (the "Company"), the number of shares of common stock, no par value, of the Company (the "Common Stock") set forth on the signature page hereof at a purchase price of $0.75 per share (the "Subscribed Shares"), with a minimum investment of $50,000 ("Minimum Investment Amount"), or such lesser amount accepted by the Company in its sole discretion. In... addition, each Purchaser shall also receive a warrant (the "Warrants" and together with the Subscribed Shares, the "Securities"), substantially in the form attached hereto as Exhibit A, to purchase a number of shares of Common Stock equal to 50% of the number of Subscribed Shares. The Warrants will be exercisable for a 5-year period commencing at the Closing (as defined below) at which the Subscribed Shares are issued at an exercise price of $0.75 per share. The Securities are being sold in the Offering (as defined below), the initial closing of which may be scheduled at any time after subscriptions have been received and accepted for at least the Minimum Offering Amount (as defined below) and other conditions to closing have been satisfied. Thereafter, remaining Securities will continue to be offered and sold until the date on which the Offering (as defined below) expires, and additional closings (each a "Closing") may from time to time be conducted by the Company with respect to those additional Securities sold. View More Arrow
Subscription. The undersigned (the "Purchaser"), intending to be legally bound, hereby irrevocably agrees to purchase from CytoDyn Inc., a Colorado corporation (the "Company"), the number of shares of common stock, no par value, (i) convertible promissory notes (the "Notes") of the Company (the "Common Stock") in the principal amount set forth on the signature page hereof at a purchase price of $0.75 per share (the "Subscribed Shares"), hereof, with a minimum investment of $50,000 ("Minimum Investment... Amount"), or such lesser amount accepted by the Company in its sole discretion. In addition, each Purchaser shall also receive a warrant (the "Warrants" and together with the Subscribed Shares, Notes, the "Securities"), substantially in the form attached hereto as Exhibit A, "Securities") to purchase a number of shares of Common Stock common stock, no par value, of the Company (the "Common Stock"), equal to 50% 20% of the number of Subscribed Shares. shares of Common Stock issuable upon conversion of the Notes. The Warrants will be exercisable for a 5-year 5 year period commencing at the Closing (as defined below) at which the Subscribed Shares are issued at an exercise price of $0.75 per share. The Notes shall be convertible into shares of Common Stock at a conversion price of $0.75 per share. The Securities are being sold in the Offering (as defined below), the initial closing of which may be scheduled at any time after subscriptions have been received and accepted for at least the Minimum Offering Amount (as defined below) and other conditions to closing have been satisfied. Thereafter, remaining Securities will continue to be offered and sold until the date on which the Offering (as defined below) expires, and additional closings (each a "Closing") may from time to time be conducted by at times mutually agreed to between the Placement Agent (as defined below) and the Company with respect to those additional Securities units sold. View More Arrow
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Subscription. (a) The closing shall be deemed to have occurred on or about April 24, 2014 (the "Closing Date" or a "Closing") provided however, that the transactions contemplated by the Agreement and Plan of Reorganization between the Company and American Cannabis Consulting, Inc., and all of its subsidiaries have been completed ("Acquisition") (b) Upon receipt by the Company of the requisite payment for the Debenture being purchased, the Debenture so purchased will be forwarded by the Company to the Holder... or its broker, as listed on the signature page, and the name of the Holder will be registered on the Debenture transfer books of the Company as the record owner of such Debentures. (c) As long as the Holder owns the Debenture, the Holder shall have the right, to change the terms and conditions for the balance of the Debenture it then holds, to match the terms of any other offering of securities made by the Company. (d) The Holder shall fund (i) ___________________ dollars ($_________) upon Closing of the Acquisition, which shall be paid directly to the Company. View More Arrow
Subscription. (a) The (a)The closing shall be deemed to have occurred on or about April March 24, 2014 (the "Closing Date" or a "Closing") provided however, that the transactions contemplated by the Agreement and Plan of Reorganization between the Company and American Cannabis Consulting, Inc., and all of its subsidiaries have been completed ("Acquisition") "Closing"). (b) Upon receipt by the Company of the requisite payment for the Debenture being purchased, the Debenture so purchased will be forwarded by... the Company to the Holder or its broker, as listed on the signature page, and the name of the Holder will be registered on the Debenture transfer books of the Company as the record owner of such Debentures. (c) As long as the Holder owns the Debenture, the Holder shall have the right, to change the terms and conditions for the balance of the Debenture it then holds, to match the terms of any other offering of securities made by the Company. (d) The Holder shall fund (i) ___________________ _________ dollars ($_________) ($_____) upon the Closing of the Acquisition, which shall be paid directly to the Company. (e) The Holder shall be granted a security interest in all of the Company's and its " Subsidiaries' " (as defined in Section 3(a) of this Subscription Agreement), assets, currently owned or hereinafter acquired, (as defined in Schedule 3(a) of this Subscription Agreement), as more fully set forth in the Security Agreement (attached hereto as Exhibit A). View More Arrow
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Subscription. On the basis of the representations and warranties and subject to the terms and conditions set forth herein, the undersigned (the "Subscriber") hereby irrevocably agrees to convert the entire amount of principal and accrued interest due held by Subscriber in the aggregate amount of $198,653.74, and as more specifically described in Exhibit 1 hereto (the "Debt") into shares of Class B Convertible Preferred Stock of the Company (such subscription and agreement to convert being the... "Subscription"), for an aggregate of 1,000,000 shares of Class B Convertible Preferred Stock of the Company (the "Shares"). The features of the Class B Convertible Preferred Stock are contained in the Certificate of Designation for the creation of the Class B Convertible Stock, which has been delivered to, and approved by, Subscriber. 1.2. On the basis of the representations and warranties and subject to the terms and conditions set forth herein, the Company hereby irrevocably agrees to issue the Shares to the Subscriber in exchange for and upon the conversion of the Debt. The Subscriber hereby agrees that upon delivery of the Shares by the Company in accordance with the provisions of this Subscription Agreement, all amounts outstanding under the Debt, including unpaid principal and any accrued interest will be fully satisfied and extinguished, and the Subscriber will remise, release and forever discharge the Company and its respective directors, officers, employees, successors, solicitors, agents and assigns from any and all obligations relating to the Debt and any prior or related obligation or agreement. Subscriber agrees to indemnify and hold harmless the Company for any loss, liability, claim, damage, or expense arising from or in connection with any claim relating to or arising out of any portion of the Debt. 1.3. Unless otherwise provided, all dollar amounts referred to in this Subscription Agreement are in lawful money of the United States of America. View More Arrow
Subscription. On the basis of the representations and warranties and subject to the terms and conditions set forth herein, the undersigned (the "Subscriber") hereby irrevocably agrees to convert the entire amount of principal and accrued interest due held by Subscriber in the aggregate amount of $198,653.74, and as more specifically described in Exhibit 1 hereto (the $350,000(the "Debt") into shares of Class B Convertible Preferred Common Stock of the Company (such subscription and agreement to convert being... the "Subscription"), for an aggregate of 1,000,000 3,500,000 shares of Class B Convertible Preferred Common Stock of the Company (the "Shares"). The features of the Class B Convertible Preferred Stock are contained in the Certificate of Designation for the creation of the Class B Convertible Stock, which has been delivered to, and approved by, Subscriber. 1.2. On the basis of the representations and warranties and subject to the terms and conditions set forth herein, the Company hereby irrevocably agrees to issue the Shares to the Subscriber in exchange for and upon the conversion of the Debt. The Subscriber hereby agrees that upon delivery of the Shares by the Company in accordance with the provisions of this Subscription Agreement, all amounts outstanding under the Debt, including unpaid principal and any accrued interest will be fully satisfied and extinguished, and the Subscriber will remise, release and forever discharge the Company and its respective directors, officers, employees, successors, solicitors, agents and assigns from any and all obligations relating to the Debt and any prior or related obligation or agreement. Subscriber agrees to indemnify and hold harmless the Company for any loss, liability, claim, damage, or expense arising from or in connection with any claim relating to or arising out of any portion of the Debt. 1.3. Unless otherwise provided, all dollar amounts referred to in this Subscription Agreement are in lawful money of the United States of America. View More Arrow
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Subscription. Subject to the terms and conditions set forth in this Agreement, in the event that any holder of the Issuer's ordinary shares, contemporaneously with or prior to the vote of the Issuer's shareholders in the extraordinary general meeting of the Issuer to approve the Transaction, elects to have such holder's ordinary shares redeemed by the Issuer, the Backstop Investor hereby irrevocably subscribes for and agrees to purchase from the Issuer, at the Per Share Subscription Price, up to the lesser... of (x) 5,000,000 Backstop Shares, and (y) the aggregate number of Backstop Shares with a Subscription Amount equal to the shortfall in the Minimum Available Acquiror Cash Amount (as defined in the Transaction Agreement) immediately prior to the consummation of the Transaction, and the Issuer agrees to sell such Backstop Shares to the Backstop Investor at the Per Share Subscription Price. The Backstop Investor acknowledges and agrees that, as a result of the Domestication, the Backstop Shares that will be issued pursuant hereto shall be shares of common stock in a Delaware corporation (and not shares in a Cayman Islands exempted company). View More Arrow
Subscription. Subject to the terms and conditions set forth in this Backstop Subscription Agreement, in the event that any holder of the Issuer's ordinary shares, contemporaneously with or prior to the vote of the Issuer's shareholders in the extraordinary general meeting of the Issuer to approve the Transaction, elects to have such holder's ordinary shares redeemed by the Issuer, then, if immediately prior to the consummation of the Transaction: (a) the PIPE Investment Amount (as defined in the Transaction... Agreement) actually received by Acquiror prior to or substantially concurrently with the Closing equals or exceeds $107,000,000; (b) the Available Credit Amount (as defined in the Transaction Agreement) equals or exceeds $52,000,000; and (c) the condition precedent to the closing of the Transaction set forth in Section 9.3(d) of the Transaction Agreement (the "Minimum Cash Condition") would not be satisfied if the Subscription Amount were equal to $0 (the amount of additional cash required to satisfy the Minimum Cash Condition, the "Cash Shortfall Amount"), the Backstop Investor hereby irrevocably subscribes for and agrees to purchase from the Issuer, at the Per Share Subscription Price, up to the lesser of (x) 5,000,000 Backstop Shares, and (y) the aggregate number of Backstop Shares with a Subscription Amount equal to the shortfall in quotient of (x) the Minimum Available Acquiror lesser of (A) the Cash Shortfall Amount (as defined in the Transaction Agreement) immediately prior and (B) $25,000,000 divided by (y) $10.00, with such number of Backstop Shares to be rounded up to the consummation of the Transaction, nearest whole number, and the Issuer agrees to sell such Backstop Shares to the Backstop Investor at the Per Share Subscription Price. The Backstop Investor acknowledges and agrees that, as a result of the Domestication, the Backstop Shares that will be issued pursuant hereto shall be shares of common stock in a Delaware corporation (and not shares in a Cayman Islands exempted company). View More Arrow
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