Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”). (ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 8 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 5 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 5 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
(1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 5 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d1(b)-(e) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock Preferred Securities sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock Preferred Securities shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d1(b)-(e) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
(1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock Preferred Securities sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock Preferred Securities shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 4 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock Preferred Securities sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock Preferred Securities shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Stock Preferred Securities sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Stock Preferred Securities shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 4 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal (a) if the pre-money valuation of the Company is less than or equal to the Valuation Cap, the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price; or (b) if the pre-money valuation of the Company is greater than the Valuation Cap, the quotient obtained by dividing the Purchase Amount by the Safe Price (such applicable either the Conversion Price or the Safe Price, as applicable, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 3 contracts
Samples: Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity, Crowdfunding Simple Agreement for Future Equity
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital StockCF Shadow Series Units of the Company; or (2) issue convert the Purchase Amount to the Investor a number of shares of the CF Shadow Series Units of Capital Stock sold in the First Equity FinancingCompany. The number of shares of the CF Shadow Series Units issued to Investor upon conversion of such Capital Stock the Purchase Amount shall equal (a) if the pre-money valuation of the Company is less than or equal to the Valuation Cap, the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price; or (b) if the pre-money valuation of the Company is greater than the Valuation Cap, the quotient obtained by dividing the Purchase Amount by the Safe Price (such applicable either the Conversion Price or the Safe Price, as applicable, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital StockCF Shadow Series Units of the Company; or (2) issue convert the Investor’s Purchase Amount to the Investor a number of shares of the CF Shadow Series of Capital Stock sold in Unitsof the Subsequent Equity FinancingCompany. The number of shares of the CF Shadow Series Units issued to Investor up the Conversion of such Capital Stock the Investor’s Purchase Amount shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 1 contract
Equity Financing. (i) If an Equity Financing occurs before this instrument terminates in accordance with Sections 1(b)-(d1(b) through 1(d) (“First Equity Financing”), the Company shall notify the Investor of the closing of the First Equity Financing and of the Company’s discretionary decision to either (1) continue the term of this Crowd Safe without converting the Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the First Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal the quotient obtained by dividing (x) the Purchase Amount by (y) the applicable Conversion Price (such applicable Conversion Price, the “First Financing Price”).
(ii) If the Company elects to continue the term of this Crowd Safe past the First Equity Financing and another Equity Financing occurs before the termination of this Crowd Safe in accordance with Sections 1(b)-(d1(b) through 1(d) (each, a “Subsequent Equity Financing”), the Company shall notify the Investor of the closing of the Subsequent Equity Financing and of the Company’s discretionary decision to either
either (1) continue the term of this Crowd Safe without converting the Investor’s Purchase Amount to Capital Stock; or (2) issue to the Investor a number of shares of the CF Shadow Series of Capital Preferred Stock sold in the Subsequent Equity Financing. The number of shares of the CF Shadow Series of such Capital Preferred Stock shall equal to the quotient obtained by dividing (x) the Purchase Amount by (y) the First Financing Price.
Appears in 1 contract
