COMMON STOCK PURCHASE AGREEMENT
Exhibit 10.1
AGREEMENT entered into as of
the 8th day of
July, 2010, by and between Pantheon China Acquisition Corp. II, a Cayman Island
corporation with an address at 10-102 #9 Jianwai Ave., Beijing, China (the
“Company”) and the purchasers listed on Schedule I annexed
hereto (each a “Purchaser” and collectively the “Purchasers”).
WHEREAS,
the Purchasers desire to purchase, and the Company desires to sell, an aggregate
of 1,679,999 shares (the “Shares”) of the Company’s common stock, par value
$0.0001 per share (the “Common Stock”), allocated among the Purchasers as set
forth on Schedule
I annexed hereto, and upon the terms and conditions hereof.
NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein
contained, the Purchaser and the Company hereby agree as follows:
SECTION
1: SALE OF THE SHARES
1.1 Sale of the
Shares. Subject to the terms and conditions hereof, the
Company will sell and deliver to the Purchaser and the Purchasers will purchase
from the Company, upon the execution and delivery hereof, an aggregate of
1,679,999 shares of Common Stock for an aggregate purchase price of $15,000 (the
“Purchase Price”). The allocation of the Shares and the Purchase
among the Purchasers shall be as set forth on Schedule I annexed
hereto.
SECTION
2: CLOSING DATE; DELIVERY
2.1 Closing
Date. The closing of the purchase and sale of the Shares
hereunder (the “Closing”) shall be held immediately following the execution and
delivery of this Agreement.
2.2 Delivery at Closing.
At the Closing, or promptly thereafter, the Company will deliver to each
Purchaser a stock certificate registered in each such Purchaser’s name,
representing the number of Shares to be purchased by such Purchaser hereunder,
against payment of the purchase price therefore as indicated on Schedule I annexed
hereto.
SECTION
3: REPRESENTATIONS, WARRANTIES AND COVENANTS OF PURCHASERS
The
undersigned Purchasers hereby represent and warrant to the Company, severally
and not jointly, as follows:
3.1 Transfer of
Shares. Each Purchaser, with respect to the Shares being
issued to it, hereby understands and acknowledges that such Shares have not been
registered under the Securities Act of 1933, as amended (the “Securities Act”)
and cannot be sold or otherwise transferred without an effective registration or
an exemption therefrom and may not be sold pursuant to the exemption provided by
Section 4(1) of the Securities Act, prior to date that the Company is no longer
deemed to be a Shell Company, in accordance with the letter from Xxxxxxx X.
Xxxxx, Chief of the Office of Small Business Policy of the Securities and
Exchange Commission’s Division of Corporation Finance, to Xxx Worm of NASD
Regulation, Inc., dated January 21, 2000, and can only be sold thereafter,
pursuant to such exemption in compliance with the provisions of Rule 144
promulgated under the Securities Act.
3.2 Experience. Each
Purchaser has such knowledge and experience in financial and business matters
that such Purchaser is capable of evaluating the merits and risks of investment
in the Company and of making an informed investment decision. Each
Purchaser has adequate means of providing for its current needs and possible
future contingencies and has no need, and anticipates no need in the foreseeable
future, to sell the Shares for which such Purchaser subscribes. Each
Purchaser is able to bear the economic risks of its investment and,
consequently, without limiting the generality of the foregoing, such Purchaser
is able to hold the Shares for an indefinite period of time and has sufficient
net worth to sustain a loss of its entire investment in the Company in the event
such loss should occur. Except as otherwise indicated herein, each Purchaser is
the sole party in interest as to its investment in the Company, and it is
acquiring the Shares solely for investment for its own account and has no
present agreement, understanding or arrangement to subdivide, sell, assign,
transfer or otherwise dispose of all or any part of the Shares subscribed for to
any other person.
3.3 Investment; Access to
Data. Each Purchaser has carefully reviewed and understands
the risks of, and other considerations relating to, a purchase of the Shares and
an investment in the Company. Each Purchaser has been furnished materials
relating to the Company, the private placement of the Shares or anything else
that it has requested and has been afforded the opportunity to ask questions and
receive answers concerning the terms and conditions of the offering and obtain
any additional information which the Company possesses or can acquire without
unreasonable effort or expense. Representatives of the Company have
answered all inquiries that such Purchaser has made of them concerning the
Company, or any other matters relating to the formation and operation of the
Company and the offering and sale of the Shares. No offering literature has been
furnished to such Purchaser other than the materials that the Company may have
provided at the request of such Purchaser; and such Purchaser has relied only on
such information furnished or made available to it by the Company as described
in this Section
3.3. Each Purchaser is acquiring the Shares for investment for its own
account, not as a nominee or agent and not with the view to, or for resale in
connection with, any distribution thereof. Each Purchaser
acknowledges that the Company is a start-up company with no current operations,
assets or operating history, which may possibly cause a loss of such Purchaser’s
entire investment in the Company.
3.4 Authorization. (a)
This Agreement, upon execution and delivery thereof, will be a valid and binding
obligation of each Purchaser, enforceable in accordance with its terms, subject
to applicable bankruptcy, insolvency, reorganization and moratorium laws and
other laws of general application affecting enforcement of creditors' rights
generally.
(b) The
execution, delivery and performance by each Purchaser of this Agreement and
compliance therewith and the purchase and sale of the Shares will not result in
a violation of and will not conflict with, or result in a breach of, any of the
terms of, or constitute a default under, any provision of state or federal law
to which such Purchaser is subject, or any mortgage, indenture, agreement,
instrument, judgment, decree, order, rule or regulation or other restriction to
which such Purchaser is a party or by which such Purchaser is bound, or result
in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of
the properties or assets of such Purchaser pursuant to any such
term.
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3.5 Accredited
Investor. Each Purchaser is an accredited investor as defined
in Rule 501(a) of Regulation D promulgated under the Securities Act or a
“non-U.S. person” as defined in Regulation S.
SECTION
4: MISCELLANEOUS
4.1 Governing
Law. This Agreement shall be governed in all respects by the
laws of the Cayman Islands, without regard to conflicts of laws principles
thereof.
4.2 Survival. The
terms, conditions and agreements made herein shall survive the
Closing.
4.3 Successors and
Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties
hereto.
4.4 Entire Agreement; Amendment;
Waiver. This Agreement constitutes the entire and full
understanding and agreement between the parties with regard to the subject
matter hereof. Neither this Agreement nor any term hereof may be
amended, waived, discharged or terminated, except by a written instrument signed
by all the parties hereto.
4.5 Counterparts. This
agreement may be executed in one or more counterparts, each of which shall
constitute an original and all of which taken together shall constitute one and
the same agreement.
Remainder
of Page Intentionally Left Blank
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IN WITNESS WHEREOF, the
undersigned have hereunto set their hands as of the day and year first above
written.
COMPANY:
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PANTHEON
CHINA ACQUISITION CORP. II
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By:
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/s/
Xxxxxxx Xxxxx
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Xxxxxxx
Xxxxx – Director, Secretary,
Chief
Financial Officer
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By:
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/s/
Xxxxxxxx Xxxx
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Xxxxxxxx
Xxxx – Director, President
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PURCHASERS:
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By:
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/s/
Xxxxxxxx Xxxx
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Entity:
Super Castle Investments Limited
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Name:
Xxxxxxxx Xxxx
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Title:
President
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By:
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/s/
Xxxxxxx Xxxxx
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Entity: Xxxxx
Consulting, LLC
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Name:
Xxxxxxx Xxxxx
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Title: President
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SCHEDULE
I
Name of Purchaser
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Number of Shares
Purchased
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Purchase Price
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Super
Castle Investments Limited
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1,327,200 | $ | 11,850 | |||||
Xxxxx
Consulting, LLC
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352,799 | $ | 3,150 | |||||
Total
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1,679,999 | $ | 15,000 |
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