The Placement Securities Clause Samples
The Placement Securities clause defines the specific securities being offered or sold in a placement transaction. It typically outlines the type, number, and characteristics of the securities, such as shares, warrants, or convertible notes, that are being issued to investors. For example, it may specify that a certain number of common shares are being sold at a set price per share. This clause ensures clarity for all parties by precisely identifying what is being transacted, thereby reducing the risk of misunderstandings or disputes regarding the nature of the securities involved.
The Placement Securities. The Placement Units, the shares of Common Stock (the “Placement Shares”), Warrants (the “Placement Warrants”) and Rights (the “Placement Rights”) underlying the Placement Units, and the shares of Common Stock issuable upon exercise of the Placement Warrants and Placement Rights are hereinafter referred to collectively as the “Placement Securities.” No underwriting discounts, commissions or placement fees have been or will be payable in connection with the Placement Securities sold in the Unit Private Placement. The Placement Units are identical to the Firm Units except that (i) the Placement Warrants will be non-redeemable by the Company, (ii) the Placement Warrants may be exercised on a cashless basis so long as they are held by the initial purchasers or their permitted transferees, and (iii) none of the Placement Securities may be sold, assigned or transferred by the Sponsor, the Underwriters or their permitted transferees until thirty (30) days after consummation of the Company’s initial Business Combination.
The Placement Securities. The Placement Units, the shares of Common Stock (the “Placement Shares”) and Warrants (the “Placement Warrants”) underlying the Placement Units, and the shares of Common Stock issuable upon exercise of the Placement Warrants are hereinafter referred to collectively as the “Placement Securities.” No underwriting discounts, commissions, or placement fees have been or will be payable in connection with the Placement Securities sold in the Unit Private Placement. The Placement Units are identical to the Firm Units except that (i) the Placement Warrants will be non-redeemable by the Company, (ii) the Placement Warrants may be exercised on a cashless basis so long as they are held by the initial purchasers or their permitted transferees, and (iii) none of the Placement Securities may be sold, assigned or transferred by the Sponsor, the Underwriters or their permitted transferees until thirty (30) days after consummation of the Company’s initial Business Combination. The Public Securities, the Placement Units, and the Founder Shares are hereinafter referred to collectively as the “Securities.”