Termination of Certain Rights. The Company's obligations under Section 2.1 and 2.2 herein will terminate upon the closing of the Company's initial public offering of Common Stock pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "SECURITIES ACT") with a sales price per share of Common Stock (as adjusted for combinations, stock dividends, subdivisions or split-ups) of at least $9.75 and aggregate gross proceeds to the Company of at least $20,000,000 (the "COMPANY'S INITIAL PUBLIC REGISTRATION").
Appears in 2 contracts
Samples: Rights Agreement (Breakaway Solutions Inc), Rights Agreement (Breakaway Solutions Inc)
Termination of Certain Rights. The Company's obligations under ----------------------------- this Section 2.1 and 2.2 herein 2 will terminate upon the closing of the Company's initial public offering of Common Stock pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "SECURITIES ACTSecurities Act") with a sales price per share of Common Stock (as adjusted for combinations, stock dividends, subdivisions or split-ups) of at least $9.75 18.645 and aggregate gross proceeds to the Company of at least $20,000,000 15,000,000 (the "COMPANY'S INITIAL PUBLIC REGISTRATIONCompany's Initial Public Registration").
Appears in 2 contracts
Samples: Rights Agreement (Commerx Inc), Rights Agreement (Commerx Inc)
Termination of Certain Rights. The Company's obligations under ----------------------------- Section 2.1 and 2.2 herein will terminate upon the closing of the Company's initial public offering of Common Stock pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "SECURITIES ACTSecurities Act") with a sales price per share of Common Stock (as adjusted for combinations, stock dividends, subdivisions or split-ups) of at least $9.75 2.625 and aggregate gross proceeds to the Company of at least $20,000,000 5,000,000 (the "COMPANY'S INITIAL PUBLIC REGISTRATIONCompany's Initial Public Registration").
Appears in 1 contract
Samples: Rights Agreement (Commerx Inc)