SUBSCRIPTION AGREEMENT IMPORTANT: PLEASE READ CAREFULLY BEFORE SIGNING SIGNIFICANT REPRESENTATIONS ARE CALLED FOR HEREIN
EXHIBIT
4.4
IMPORTANT:
PLEASE READ CAREFULLY BEFORE SIGNING
SIGNIFICANT REPRESENTATIONS
ARE
CALLED FOR
HEREIN
SpectraScience,
Inc.
00000-00
Xxxxxxxx Xxxxxx Xx.
Xxx
Xxxxx, XX 00000
Gentlemen:
The
undersigned, _______________________________ (“Investor”) hereby tenders this
subscription and applies for the purchase of ____________ Units (the
“Securities”) of SpectraScience, Inc. (the
“Company”) at $10.00 per unit.
The
aggregate subscription price, in the amount of $____________ is delivered
herewith by Wire or check made payable to SpectraScience. The
subscription price is the number of Units multiplied by $10.00. Wire
instructions are:
Chase
Manhattan Bank
The
Investor understands and agrees that this Subscription Agreement is not binding
upon the Company and that the Company may elect to reject this Subscription
Agreement in whole or in part for any reason, including without limitation,
unavailability of shares to fill this or other subscriptions.
By
execution below, the undersigned acknowledges that the Company is relying upon
the accuracy and completeness of the representations contained herein in
complying with its obligations under applicable securities laws.
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1.
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The
undersigned acknowledges and represents as
follows:
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(a)
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That
the undersigned has received, carefully reviewed, and is familiar with
certain information about the Company, including the Company’s annual
report on Form 10-K for the year ended December 31, 2008, and the
Company’s quarterly report on Form 10-Q for the period ended June 30,
2009;
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(b)
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That
the undersigned is in a financial position to hold the shares for an
indefinite period of time and is able to withstand a complete loss of his
or her investment in the shares.
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(c)
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That
the undersigned has substantial experiece in evaluating and investing in
securities in companies similar to the Company, so that he or she is
capable of reading and interpreting the business plan and evaluating the
merits and risks of his or her investment in the Company, and he or she
has the capacity to protect his or her own
interests;
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(d)
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That
by reason of his or her business or financial experience, the undersigned
has the capacity to protect his or her own interests in connection with
his or her purchase of the shares;
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(e)
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That
the undersigned has been given access to full and complete information
regarding the Company and has utilized such access to its satisfaction for
the purpose of obtaining information in addition to, or verifying
information included in, the Memorandum, and that the undersigned has
either met with or been given reasonable opportunity to meet with officers
of the Company for the purpose of asking questions of, and receiving
answers from, such officers concerning the terms and conditions of the
offering of the shares and the current and proposed business and
operations of the Company and to obtain any additional information, to the
extent reasonably available;
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(f)
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That
the undersigned acknowledges that he or she has made his or her own
investigation of the Company, its proposed business, personnel and
prospects; has had an opportunity to discuss the Company’s proposed
business, management and financial affairs with directors, officers, and
management of the Company; and has had the opportunity to review the
Company’s proposed operations to his or her
satisfaction;
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(g)
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That
the undersigned has such knowledge and experience in financial and
business matters that he or she is capable of evaluating the merits and
risks of the prospective investment in the shares and has the net worth to
undertake such risks;
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(h)
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That the undersigned believes
that the investment in the shares is suitable for him or her based upon
his or her investment objectives and financial needs, and the undersigned
has adequate means for providing for his or her current financial needs
and contingencies and has no need for liquidity of investment with respect
to the shares;
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(i)
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That the undersigned recognizes
that purchasing shares as an investment is highly speculative, and
involves a high degree of risk including, but not limited to, the risk of
economic losses from operations of the Company and the total loss of his
or her investment; and
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(j)
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If
an entity, that the undersigned was not formed for the purpose of
investing in the shares.
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2
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(k)
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The
undersigned is acquiring the shares of Stock solely for his, her or its
own account for investment and not with a view to resale or distribution
thereof, in whole or in part. The undersigned has no agreement
or arrangement, formal or informal, with any person to sell or transfer
all or any of the shares, and the undersigned has no plans to enter
into any such agreement or arrangement. The undersigned acknowledges that
Company has agreed to grant to the undersigned only the registration
rights described in the Registration Rights Agreement in the form annexed
to the Memorandum.
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(l)
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The
undersigned is unaware of, is in no way relying on, and did not become
aware of the offering of the shares through or as a result of, any form of
general solicitation or general advertising including, without limitation,
any article, notice, advertisement or other communication published in any
newspaper, magazine or similar media or broadcast over television, radio
or over the Internet, in connection with the offering and sale of the
shares and is not subscribing for the shares and did not become aware of
the offering of the shares through or as a result of any seminar or
meeting to which the undersigned was invited by, or any solicitation of a
subscription by, a person not previously known to the undersigned in
connection with investments in securities
generally;
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2.
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The
undersigned represents and warrants that, if an individual, he or she is a
bona fide resident of, and is domiciled in, the State/Country of
_________________; or, if an entity, that its executive offices are
located in the State/Country
of __________________; and that the shares are being purchased by him, her
or it in his, her or its name solely for his, her or its own beneficial
interest and not as nominee for, or on behalf of, or for the beneficial
interest of, or with the intention to transfer to, any other person, trust
or organization.
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INVESTORS
MUST REVIEW AND PROVIDE INFORMATION IN RESPONSE TO ITEM 3 BELOW.
The
undersigned agrees to furnish any additional information which the Company deems
necessary in order to verify the answers set forth below.
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3.
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The
undersigned understands that the representations contained below are made
for the purpose of qualifying him or her as an “accredited investor” as
that term is defined in Regulation D of the General Rules and Regulations
promulgated under the Act and for the purpose of inducing a sale of the
Securities to him or her. The undersigned hereby represents
that the statement or statements initialed or otherwise indicated below
are true and correct in all respects. The undersigned
understands that a false representation may constitute a violation of law,
and that any person who suffers damage as a result of a false
representation may have a claim against the undersigned for
damages.
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(a)
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Accredited
individual investors must initial or otherwise indicate one or both of the
following statements:
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_______(1)
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I
certify that I am an accredited investor because I had individual income
(exclusive of any income attributable to my spouse) of more than $200,000
in each of the most recent two years or joint income with my spouse of
more than $300,000 in each of such years and that I reasonably expect to
have such an income in excess of such amounts for the current
year.
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3
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_______(2)
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I
certify that I am an accredited investor because I have an individual net
worth, or my spouse and I have an individual net worth, in excess of
$1,000,000. For purposes of this Subscription Agreement and
Letter of Investment Intent, “individual net worth” means the excess of
total assets at fair market value, including home and personal property,
over total liabilities, except for Illinois residents who should exclude
the value of homes, home furnishings and
automobiles.
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_______(3)
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I
certify that I am an accredited investor because I am a director or
executive officer of the Company.
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(b)
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Accredited
partnerships, corporations or other entities must initial one or more of the
following statements:
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_______(1)
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The
undersigned hereby certifies that all of the beneficial equity owners of
the undersigned qualify as accredited individual investors under items
(a)(1) or (a)(2) above. (Investors attempting to qualify under
this item must complete the Certificate of Signatory to this Subscription
Agreement and Letter of Investment Intent and each equity owner must
complete a separate copy of this Subscription Agreement and Letter of
Investment Intent);
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_______(2)
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The
undersigned is a bank or savings and loan association as defined in
Sections 3(a)(2) and 3(a)(5)(A), respectively, of the Act acting either in
its individual or fiduciary
capacity.
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_______(3)
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The
undersigned is an insurance company as defined in Section 2(13) of the
Act.
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_______(4)
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The
undersigned is an investment company registered under the Investment
Company Act of 1940 or a business development company as defined therein,
in Section 2(a)(48).
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_______(5)
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The
undersigned is a Small Business Investment Company licensed by the U.S.
Small Business Administration under Section 301(c) or (d) of the Small
Business Investment Act of 1958.
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_______(6)
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The
undersigned is an employee benefit plan within the meaning of Title I of
the Employee Retirement Income Security Act of 1974 and either (check one
or more, as applicable):
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4
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_______(a)
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the
investment decision is made by a plan fiduciary, as defined therein, in
Section 3(21), which is either a bank, savings and loan association,
insurance company, or registered investment adviser;
or
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_______(b)
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the
employee benefit plan has total assets in excess of $5,000,000;
or
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_______(c)
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the
plan is a self-directed plan with investment decisions made solely by
persons who are “accredited investors” as defined
therein.
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_______(7)
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The
undersigned is a private business development company as defined in
Section 202(a)(22) of the Investment Advisers Act of
1940.
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_______(8)
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The
undersigned has total assets in excess of $5,000,000, was not formed for
the specific purpose of acquiring Securities and is one or more of the
following (check one or more, as
appropriate):
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_______(a)
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an
organization described in Section 501(c)(3) of the Internal Revenue Code
of 1986, as amended; or
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_______(b)
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a
corporation; or
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_______(c)
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a
Massachusetts or similar business trust;
or
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_______(d)
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a
partnership; or
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_______(e)
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a
limited liability company.
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_______(9)
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The
undersigned is a trust with total assets exceeding $5,000,000, which was
not formed for the specific purpose of acquiring Securities and whose
purchase is directed by a person who has such knowledge and experience in
financial and business matters that he or she is capable of evaluating the
merits and risks of the investment in the
Securities.
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4.
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The
undersigned, if other than an individual, hereby represents that this
Subscription Agreement has been duly authorized by all necessary action on
the part of the undersigned, has been duly executed by an authorized
officer or representative of the undersigned, and is a legal, valid, and
binding obligation of the undersigned enforceable in accordance with its
terms.
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5.
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Manner
in Which Title is to be Held. (check
one)
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(a)
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_______
Individual Ownership
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(b)
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_______
Community Property
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(c)
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_______
Joint Tenant with Right of Survivorship (both parties must
sign)
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(d)
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_______
Partnership
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(e)
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_______
Tenants in Common
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(f)
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_______
Corporation
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(g)
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_______
Trust
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(h)
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_______
Qualified Retirement Account (i.e. XXX)
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Dated: ____________
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6
INDIVIDUAL
INVESTORS
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ENTITY
INVESTORS
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______________________________________
Signature
(Individual)
______________________________________
Signature
(all
record holders should sign)
______________________________________
Name(s)
Typed or Printed
______________________________________
Address
to Which Correspondence
Should
be Directed
______________________________________
______________________________________
City,
State and Zip Code
______________________________________
Tax
Identification or Social Security Number
______________________________________
Phone
Number
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_____________________________________
Name
of Entity, if any
By
__________________________________
*Signature
Its
___________________________________
Title
______________________________________
Name
Typed or Printed
______________________________________
Address
to Which Correspondence
Should
be Directed
______________________________________
______________________________________
City,
State and Zip Code
______________________________________
Tax
Identification or Social Security Number
______________________________________
Phone
Number
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*
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If
Securities are being subscribed for by any entity, the Certificate of
Signatory must also be completed.
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7
CERTIFICATE
OF SIGNATORY
(To be
completed if Securities are being subscribed
for by an
entity)
I,
_________________________________ the ______________________________ of (the
“Entity”), hereby certify that I am empowered and duly authorized by the Entity
to execute and carry out the terms of the Subscription Agreement and to purchase
the Securities, and certify further that the Subscription Agreement has been
duly and validly executed on behalf of the Entity and constitutes a legal and
binding obligation of the Entity.
IN
WITNESS WHEREOF, I have set my hand this ____ day of ______________,
2009.
_________________________________
(Signature)
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8
ACCEPTANCE
The
Company hereby accepts the foregoing Subscription Agreement as of the date
indicated below for the following number of shares of Preferred B
Stock:
_______________________________.
SPECTRASCIENCE, INC. | |||||
Date: | By |
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