Conversion of Merger Sub Stock. At the Effective Time, by virtue of the Merger and without any action on the part of SXAN, AVTX, the Merger Sub, or the holders of any of their respective securities, each share of capital stock of Merger Sub outstanding immediately prior to the Effective Time shall be converted into one share of the common stock of the Surviving Entity and the shares of common stock of the Surviving Entity so issued in such conversion shall constitute the only outstanding shares of capital stock of the Surviving Entity and the Surviving Entity shall be a wholly owned subsidiary of AVTX.
Appears in 4 contracts
Samples: Share Purchase and Merger Agreement, Share Purchase and Merger Agreement (Infrared Systems International), Share Purchase and Merger Agreement (Infrared Systems International)
