AMENDMENT TO WARRANT TO PURCHASE SERIES D PREFERRED STOCK OF ARTES MEDICAL, INC. (Issued in Connection with Interim Credit Facility 2005)
EXHIBIT 4.17
AMENDMENT TO
WARRANT TO PURCHASE SERIES D PREFERRED STOCK
OF ARTES MEDICAL, INC.
(Issued in Connection with Interim Credit Facility 2005)
WARRANT TO PURCHASE SERIES D PREFERRED STOCK
OF ARTES MEDICAL, INC.
(Issued in Connection with Interim Credit Facility 2005)
This Amendment dated as of June 23, 2006 (this “Amendment”), to each of the Warrants to
Purchase Series D Preferred Stock (each, a “Warrant” and collectively, the “Warrants”) for the
purchase of shares of Series D Preferred Stock of Artes Medical,
Inc. (the “Company”), is made by
and between the Company and each of the holders of one or more Warrants listed on Exhibit A
(each, a “Holder” and collectively, the
“Holders”).
RECITALS
Whereas, pursuant to the Preamble of each Warrant, each of the Warrants expires and
ceases to be exercisable on the earlier of (i) 5:00 P.M. Pacific Standard Time, on the date set
forth under “Original Expiration Date” on Exhibit A hereto or (ii) the closing of (a) a
Corporate Transaction (as defined in the Warrant) or (b) the initial underwritten public offering
of the Company’s common stock pursuant to a registration statement filed under the Securities Act
of 1933, as amended;
Whereas, pursuant to Section 3 of each Warrant, each Holder is entitled to exercise
such Holder’s Warrant through a “cashless exercise” feature by converting the Warrant into Warrant
Shares (as defined in each of the Warrants) at any time or from time to time during the exercise
period, the number of Warrant Shares to be computed using the Net Issuance formula provided in
Section 3.1 of the Warrant; and
Whereas, the Company and each of the Holders desire to amend the Warrants held by the
Holders as set forth below.
AGREEMENT
NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:
1. Amendment to Preamble. The first paragraph of the Preamble of each of the Warrants
is hereby amended and restated in its entirety to read as follows:
“Artes Medical USA, Inc., a Delaware corporation (the “Company”), hereby certifies that, for
value received, ___(including any successors and assigns, “Holder”), is entitled,
subject to the terms set forth below, to purchase from the Company at any time or from time to time
before the earlier of (i) 5:00 P.M. Pacific Standard Time, on the date set forth with respect to
this Warrant under “Original Expiration Date” on Exhibit A of this Amendment or (ii) the
closing of a Corporate Transaction (the earlier to occur of (i) or (ii) the “Expiration Date”),
fully paid and nonassessable shares of the Company’s Series D Preferred Stock (the “Warrant
Shares”) under the terms set forth herein:”
2. Amendment to Section 3. Section 3 of each of the Warrants is hereby deleted in its
entirety.
3. Governing Law. This Amendment shall be governed by and construed in accordance
with the laws of the State of California as applied to agreements among California residents,
entered into and to be performed entirely within California.
4. Successors and Assigns. This Amendment shall be binding upon, and inure to the
benefit of, the parties hereto, their respective successors and legal representatives and their
permitted assigns.
5. Warrant Terms to Remain in Effect. Except as specifically otherwise modified
herein, each Warrant as previously executed remains in full force and effect.
6. Effectiveness; No Amendment to Other Warrants. This Amendment shall become
effective as to each of the Warrants upon the execution and delivery by each Holder of a Warrant
Holder Election Form in the form provided by the Company to the Holder with respect to the
applicable Warrant, indicating such Holder’s agreement to be bound by this Amendment.
Notwithstanding Section 8.5 of each Warrant, this Amendment shall be effective only as to each
Warrant that the applicable Holder has elected to amend as set forth in this Section 6, and shall
not be effective as to any other warrant. Each Warrant so amended by this Amendment shall be
listed on Exhibit A.
7. Counterparts. This Amendment may be executed in any number of counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.
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Acknowledged and agreed: | ARTES MEDICAL, INC., | |||||
a Delaware corporation | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
[Signature Page to Amendment to Warrant to Purchase Series D Preferred Stock]
EXHIBIT A
WARRANT HOLDERS
Number of | ||||||||||||
Shares | ||||||||||||
Underlying | Original | |||||||||||
Name of Warrant Holder | Warrant | Exercise Price | Expiration Date | |||||||||
Xxxxxxx X. Xxxxx |
75,000 | $ | 2.00 | 05/10/10 | ||||||||
IC-1, LLC |
145,500 | $ | 2.00 | 05/13/10 | ||||||||
First Roseland Pension
& Profit Sharing Plan |
75,000 | $ | 2.00 | 05/18/10 |