The Rights Offering. Following the First Closing, the Company will commence a rights offering providing holders of record of the Common Stock on the day prior to the First Closing Date with the right to invest in Common Stock at the same price per share paid by the Purchasers and the Anchor Investors (the “Rights Offering” and together with the Equity Investment, the TARP Exchange and the Exchange Offers, the “Recapitalization”). The rights will be non-transferable and will provide for the purchase of a maximum of $20,000,000 worth of Common Stock by such existing stockholders.
The Rights Offering. (a) The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock shall receive one Right for each share of Common Stock held of record at the close of business on ________________. 2010 (the “Record Date”). Holders of Rights will be entitled to subscribe for and purchase, at the Subscription Price, one share of Common Stock and one Warrant for every Right granted to such holder on the Record Date (the “Basic Subscription Right”).
The Rights Offering a) The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock and Participating Securities shall receive one Right for each share of Common Stock and each share of Common Stock underlying each of the Participating Securities held of record at the close of business on September 23, 2022 (the “Record Date”). Holders of Rights will be entitled to subscribe for and purchase, at the Subscription Price, one (1) Unit for each Right held (the “Basic Subscription Right”). Rights may only be exercised for whole Right Shares and Rights Warrants; no fractional securities will be issued in the Rights Offering.
The Rights Offering. SCI shall distribute as a dividend to each holder of record of SCI Common Shares, as of the close of business on the SCI Shareholders' Approval Record Date, rights to purchase SCI Common Shares entitling such holder to subscribe for and purchase SCI Common Shares during the period commencing on the date the SCI Prospectus is mailed to such holders and expiring on the close of business on the date of the Merger Closing (the "Rights Offering Expiration Date). The issuance of such rights and the issuance of SCI Common Shares upon exercise of such rights shall be registered under the SCI Registration Statement and SCI shall use its best efforts to cause the rights to be tradeable on the Exchange on which the SCI Common Shares are listed. Each holder of SCI Common Shares shall receive one (1) right for every one (1) SCI Common Share held of record by such holder as of the SCI Shareholders' Approval Record Date. The exercise price per SCI Common Share for such rights shall be equal to the amount determined by the SCI Board (or a duly authorized committee thereof); provided, that in the event that the Fair Market Value of an SCI Common Share is more than $24.75, then the exercise price per SCI Common Share shall be $24.75; and provided, further, that the exercise price per SCI Common Share shall in no event (other than as described in the preceding proviso) be less than 94% of the Fair Market Value of an SCI Common Share. SCI shall make available for issuance in the rights offering, up to a maximum number of SCI Common Shares equal to the difference between (X) the amount determined by dividing (A) the number of SCI Common Shares issuable pursuant to Section 2.1 by (B) the percentage of all outstanding SCI Common Shares owned by SCG on the SCI Shareholders' Approval Record Date (the amount determined pursuant to this clause (X) being the "Rights Offering Amount") and (Y) the number of SCI Common Shares issuable to SCG pursuant to Section 2.1. Each holder shall be entitled to acquire one (1) SCI Common Share by paying the exercise price as determined above and surrendering that number of rights (rounded down to the nearest whole right) equal to the amount determined by dividing the aggregate number of SCI Common Shares outstanding on the SCI Shareholders' Approval Record Date by the Rights Offering Amount. SCG agrees that it shall not exercise or sell or otherwise transfer any rights issued to it pursuant to this Section 2.3 and SCG shall not purchase or otherwise...
The Rights Offering. The Rights Offering will be conducted as follows:
The Rights Offering. (a) The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock and Warrants shall receive ten Rights for each share of Common Stock held of record by such holder or for which a Warrant is exercisable, as the case may be, at the close of business on [________ ___], 2019 (the “Record Date”). Holders of Rights (each a “Holder”) will be entitled to subscribe for and purchase, at the Subscription Price, one share of Preferred Stock for every Right granted to Holders on the Record Date (the “Basic Subscription Right”).
The Rights Offering. Following the Closing, the Company will commence a rights offering providing holders of record of the Common Stock as of the close of business on the Business Day immediately preceding the Closing Date with the right to purchase Common Stock at the same price per share paid by the Investor. The rights will be transferable and will provide for the purchase of up to $20,000,000 of Common Stock by such existing shareholders.
The Rights Offering. The Company is contemplating commencing a rights offering on the following terms: (i) the Company shall distribute, at no charge to its stockholders, one Right to each holder of record of Common Stock for each share of Common Stock held by such holder as of the Record Date, (ii) each Right shall entitle the holder thereof to purchase, at the election of such holder, such number of shares of Common Stock at the Rights Subscription Price thereby entitling such holders of rights, in the aggregate, to subscribe for Common Stock worth an aggregate of up to $35.3 million, provided that no fractional shares of Common Stock shall be issued, (iii) each such Right shall be non-transferable, (iv) the rights offering shall remain open as set forth in the Registration Statement (the “Subscription Period”) and (v) each holder who fully exercises all Rights held by him shall be entitled to subscribe for additional shares of Common Stock that were not subscribed for in the Rights Offering (such exercising holders, the “Exercising Holders”), provided if an insufficient number of unsubscribed shares of Common Stock are available, all such over-subscription requests shall be honored proportionately among the Exercising Holders based on the number of shares of Common Stock each such holder subscribed for in accordance with clause (ii) (such rights offering, the “Rights Offering”). The Company hereby agrees to use commercially reasonable efforts to complete the Rights Offering as soon as reasonably practicable, subject to the terms and conditions set forth herein. Specifically, the Company hereby agrees, subject to the terms and conditions set forth herein, to use commercially reasonable efforts to complete its Registration Statement on Form S-1, as initially filed with the SEC on May 6, 2016 and as amended on August 22, 2016, and as may be subsequently amended from time to time (the “Registration Statement”), and use commercially reasonable efforts to cause such Registration Statement to be declared effective by the SEC as soon as reasonably practicable.
The Rights Offering. 2.1 In accordance with the terms and conditions of this Agreement, the Company agrees to make the Rights Offering and issue Rights to the holders of its outstanding Shares on the Record Date and Glencore agrees to exercise its Basic Subscription Right in full and has informed the Company that it has yet to determine whether or not it will exercise its Additional Subscription Privilege, and shall subscribe for the Standby Shares in accordance with the provisions of Schedule 2.
The Rights Offering. Following the Closing, the Company may commence a rights offering (the “Rights Offering”) providing holders of record of the Common Stock as of the close of business on a record date prior to the Closing to be selected by the Company with the right to purchase Common Stock at the same price per share as that paid by the Investor. The rights would not be transferable and would provide for the purchase of up to $2 million of Common Stock in the aggregate by such existing stockholders.
