Financings of the Company. (a) At all times that the Entities within the Sumitomo Group satisfy the Voting Threshold and until the occurrence of a Standstill Termination Event, if the Company proposes to issue New Securities primarily for cash consideration in a financing transaction (except in any transaction specifically described in Section 6.3) and the effect of consummating such transaction would result in a reduction in the percentage interest of the Total Outstanding Company Equity held by the Sumitomo Group (a “Financing Transaction”), Sumitovant Bio will have the right to purchase for cash up to a number of New Securities sold in such Financing Transaction that is equal to the Sumitomo Group Pro Rata Share, or any part thereof, at the same price per New Security at which such New Securities are sold in such Financing Transaction to the other investors (the “Purchase Price”), as further described in this Section 6.2.
Financings of the Company. Subject to existing rights held by other parties, each Investor may participate in any financings completed on a private placement basis by the Company on a pro rata basis with their investment at the Initial Closing for the first three years following the Initial Closing (the “Right of Participation in Financings”). During such period, the Investors shall have the right to purchase up to 80% of any subsequent financings on a pro rata basis with their initial investment at the Initial Closing. Bank loans and Excluded Securities are excluded from the Right of Participation in Financings.
