Examples of Initial Public Offering in a sentence
The principal balance and unpaid accrued interest on this Note will automatically, and without any further action on the part of the Company or the Holder, convert into shares of Common Stock immediately prior to the closing of an Initial Public Offering.
In furtherance of the foregoing, and except in connection with an Initial Public Offering, the Company shall neither elect, pursuant to Regulations Section 301.7701-3(c), to be treated as an entity other than a partnership nor elect, pursuant to Code Section 761(a), to be excluded from the provisions of subchapter K of the Code.
Except in connection with an Initial Public Offering, the Members intend, and the Company shall take no position inconsistent with such intent, to treat, the Company as a partnership for Federal, state and local income and franchise tax purposes.
The number of shares of Common Stock into which this Notes so converts will equal the quotient (rounded down to the nearest whole share) obtained by dividing (x) the sum of (i) the outstanding principal balance and unpaid accrued interest under this Note as of the date prior to the closing of the Initial Public Offering, plus (ii) the applicable Make-Whole Amount, by (y) the Conversion Price as in effect on such date.