AMENDMENT NO. 1 TO THE SECURITIES PURCHASE AGREEMENT, DATED AS OF DECEMBER 27, 2007, BETWEEN MARINE PARK HOLDINGS, INC.
EXHIBIT
4.6
AMENDMENT
NO. 1 TO THE SECURITIES PURCHASE AGREEMENT,
DATED
AS OF DECEMBER 27, 2007, BETWEEN MARINE PARK HOLDINGS, INC.
AND
EACH OF THE SEVERAL PURCHASERS SIGNATORY THERETO
This
Amendment No. 1, dated as of February 6, 2008, between New Cardio, Inc.
(formerly Marine Park Holdings, Inc.), Vision Opportunity Master Fund, Ltd.
(“Vision”) and Platinum Montaur Life Sciences, LLC (“Platinum” and collectively
with Vision, the “Majority Holders”) amends the Securities Purchase
Agreement made and entered into as of December 27, 2007, among the parties
thereto (the “Agreement”). All the terms of the Agreement are incorporated
herein by reference, except as otherwise stated herein. Capitalized terms used
herein that are not defined herein shall have the meaning ascribed to them in
the Agreement.
WHEREAS,
the Agreement may be amended in a writing signed by the Company and the
Purchasers holding 67% in interest of the Securities then outstanding pursuant
to Section 5.5 of the Agreement; and
WHEREAS,
the Company and the Majority Holders desire to amend the Agreement.
NOW,
THEREFORE, for good and valuable consideration the receipt and adequacy of which
are hereby acknowledged, the Company and each of the Majority Holders agree as
follows:
1. Section 2.2(a)(v) of the
Agreement is hereby amended and replaced in its entirety with the
following:
Intentionally
Omitted
2. Section 2.2(a)(vi) of the
Agreement is hereby amended and replaced in its entirety with the
following:
Intentionally
Omitted
3. Section 2 of the
Agreement is hereby amended to incorporate the following Section 2.2(c) in the
appropriate order:
On the
Closing Date, the Company shall deliver or cause to be delivered to each
Purchaser that delivers to the Company a Subscription Amount, equal to
$2,000,000 or more, the following:
(i) a Series
J Warrant registered in the name of such Purchaser to purchase up to a number of
shares of Common Stock equal to 70% of the number of Conversion Shares issuable
upon conversion of the Preferred Stock purchased by such Purchaser, as set forth
therein; and
(ii) a Series
X-X Warrant registered in the name of such Purchaser to purchase up to a number
of shares of Common Stock equal to 60% of the number of shares of Common Stock
issuable upon exercise of such Purchaser’s Series J Warrant.
3. Except as expressly set
forth herein, all other terms and conditions of the Agreement remain in full
force and effect and this Amendment shall be governed by all other terms
contained therein.
********************
IN
WITNESS WHEREOF, the parties have executed this Amendment as of the date first
written above.
NEW CARDIO, INC. | ||
By: | /s/ Xxxxxxx Xxxxxxxxxx | |
Name: Xxxxxxx Xxxxxxxxxx | ||
Title: CFO | ||
VISION OPPORTUNITY MASTER FUND, LTD. | ||
By: | /s/ Xxxx Xxxxxxxx | |
Name: Xxxx Xxxxxxxx | ||
Title: Director | ||
PLATINUM MONTAUR LIFE SCIENCES, LLC | ||
By: | /s/ Xxxxxxx Xxxxxxxx | |
Name: Xxxxxxx Xxxxxxxx | ||
Title: Portfolio Manager |
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