EXHIBIT 4.11
[SYQUEST LOGO APPEARS HERE]
June 30, 1998
VIA FACSIMILE
CC Investments LDC
RE: EXERCISE OF WARRANTS/ISSUANCE OF COMMON STOCK
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Gentlemen:
This letter confirms that SyQuest Technology, Inc. ("SyQuest") and CC
Investments LDC ("Warrant Holder") agree as follows:
1. Warrant Holder will exercise 1,000,000 shares of Warrant No. 81A it
received in connection with its purchase of the Company's Convertible Preferred
Stock, Series 5 at $3.0469 per share to acquire 1,000,000 shares of the
Company's common stock, for total proceeds of $3,046,900 (the "Proceeds").
2. Upon receipt of the Proceeds, plus an additional $204.69 representing
the par value for an additional 2,046,900 shares (the "Additional Common
Shares") of the Company's common stock, the Company will issue a total of
3,046,900 shares of common stock to Warrant Holder.
3. The Additional Common Shares shall have piggy-back registration rights
so that they will be registered in a future registration statement consistent
with existing Company contractual obligations regarding registrations, provided
however that the Company agrees to register such shares no later than September
25, 1998, subject to delays caused by reasonable business considerations.
4. The Proceeds plus the additional $204.69 will be wire-transferred to the
following account: Bank of America, 0000 Xxxxxxx Xxxx., 0xx Xxxxx, Xxxxxxx, XX
00000, ABA # 000-000-000, Account # 12334-56287.
5. The Company will deliver the shares of common stock issued upon exercise
of the warrant in accordance with the terms of the warrants, and it will direct
its transfer agent to deliver such shares electronically without a restrictive
legend provided that Warrant Holder complies with the applicable prospectus
delivery requirements under the Securities Act of 1933 and provides notice to
the Company using the attached form.
The Company further acknowledges that Warrant Holder is relying on
information disclosed in the Company's public filings with the SEC and confirms
that it is aware of no material misstatements or omissions in those filings.
ACKNOWLEDGED AND ACCEPTED
SyQuest Technology, Inc. CC Investments LDC
/s/ XXXXXX X. XXXXX /s/ (illegible)
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Xxxxxx X. Xxxxx Authorized representative
Vice President, General
Counsel and Secretary
