Mandatory Conversion Upon Initial Public Offering. If, prior to the Calendar Due Date, the Maker closes a firm commitment underwritten initial public offering of its common stock that raises gross proceeds of at least $10 million (the “IPO Financing”), the amounts payable hereunder shall be repaid with shares of the Maker’s Common Stock in accordance with the terms of paragraph 5.1 of this Note.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Ideal Power Inc.), Senior Secured Convertible Promissory Note (Ideal Power Inc.)
Mandatory Conversion Upon Initial Public Offering. If, prior to the Calendar Due Date, the Maker closes a firm commitment underwritten initial public offering of its common stock that raises gross proceeds of at least $10 million (the “"IPO Financing”"), the amounts payable hereunder shall be repaid with shares of the Maker’s 's Common Stock in accordance with the terms of paragraph 5.1 of this Note.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Ideal Power Inc.), Senior Secured Convertible Promissory Note (Ideal Power Inc.)
Mandatory Conversion Upon Initial Public Offering. If, prior to the Calendar Due Date, the Maker closes a firm commitment underwritten initial public offering of its common stock that raises gross proceeds of at least $10 million (the “"IPO Financing”"), the amounts payable hereunder shall be repaid with shares of the Maker’s 's Common Stock in accordance with the terms of paragraph 5.1 of this Note.
Appears in 1 contract
Samples: Senior Secured Convertible Promissory Note (Ideal Power Inc.)
