SECURITIES PURCHASE AGREEMENT
Exhibit 10.9.3
This Securities Purchase Agreement (this “Agreement”), effective as of July 26, 2010, is made
and entered into by and between L&L Acquisition Corp., a Delaware corporation (the “Company”), and
LLM Investors L.P., a Delaware limited partnership (“Buyer”).
RECITALS:
WHEREAS, Buyer wishes to purchase from the Company 27,123 shares of the Company’s Common
Stock, par value $0.0001 per share (the “Shares”); and
WHEREAS, the Company wishes to sell the Shares to the Buyer on the terms and subject to the
conditions set forth in this Agreement.
AGREEMENT:
NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual
covenants contained in this Agreement, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
DEFINITIONS
The terms defined in this Article I shall have for all purposes of this Agreement the
respective meanings set forth below:
“Buyer” shall have the meaning set forth in the preamble to this Agreement.
“Closing” shall have the meaning set forth in Section 2.3 of this Agreement.
“Closing Date” shall have the meaning set forth in Section 2.3 of this Agreement.
“Common Stock” shall mean the Common Stock, $0.0001 par value per share, of the Company.
“Company” shall have the meaning set forth in the preamble to this Agreement.
“Consent” means any consent, approval, notification, waiver, or other similar action that is
necessary or convenient.
“Governmental Body” shall mean any legislature, agency, bureau, branch, department, division,
commission, court, tribunal or other similar recognized organization or body of any federal, state,
county, municipal, local or foreign government or other similar recognized organization or body
exercising similar powers or authority.
“Law” shall mean any law (statutory, common or otherwise), constitution, ordinance, rule,
regulation, executive order or other similar authority enacted, adopted, promulgated or applied by
any Governmental Body.
“Lien” shall mean a mortgage, deed of trust, pledge, hypothecation, assignment, encumbrance,
charge, restriction, lien (statutory or otherwise, including, without limitation, any lien for
taxes), security interest, preference, participation interest, priority or security agreement or
preferential arrangement of any kind or nature whatsoever, including, without limitation, any
conditional sale or other title retention agreement, any financing lease having substantially the
same economic effect as any of the foregoing and the filing of any document under the law of any
applicable jurisdiction to evidence any of the foregoing, other than (i) statutory, mechanics’ or
other Liens incurred in the Company’s ordinary course of business or (ii) Liens for taxes incurred
but not yet due.
“Order” shall mean an order, ruling, decision, award, judgment, injunction or other similar
determination or finding by, before or under the supervision of any Governmental Body or
arbitrator.
“Permit” shall mean a permit, license, certificate, waiver, notice or similar authorization to
which Buyer is a party or by which Buyer is bound or any of its assets are subject.
“Purchase Price” shall have the meaning set forth in Section 2.2 of this Agreement.
“SEC” shall mean the United States Securities and Exchange Commission.
“Securities Act” shall mean the Securities Act of 1933, as amended, or any successor federal
statute, and the applicable rules and regulations promulgated and in effect from time to time
thereunder.
“Shares” shall have the meaning set forth in the recitals to this Agreement.
ARTICLE II
PURCHASE OF THE SHARES
PURCHASE OF THE SHARES
Section 2.1 Purchase and Sale of the Shares. Subject to the terms and conditions
hereof and in reliance upon the representations and warranties of the parties contained or
incorporated by reference herein, simultaneous with the execution hereof, the Company shall sell
and deliver to Buyer, and Buyer shall purchase from the Company, the Shares, in consideration of
the payment of the Purchase Price noted herein.
Section 2.2 Purchase Price. As payment in full for the Shares being purchased under
this Agreement and against delivery of the certificates therefor, simultaneous with the execution
hereof, Buyer shall pay an aggregate of $471.71 ($0.0173913 per share) to the Company by wire
transfer of immediately available funds or by such other method as may be reasonably acceptable to
the Company (the “Purchase Price”).
Section 2.3 Closing. The closing of the purchase and sale of the Shares (the
“Closing”) shall be held on the date of this Agreement (“Closing Date”) at the offices of Xxxxxxx
Procter LLP, The New York Times Building, 000 Xxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, or such
other place as may be agreed upon by the parties hereto.
Section 2.4 Closing Deliveries. All actions taken at the Closing shall be deemed to
have been taken simultaneously.
(a) Buyer Deliveries. At the Closing, Buyer shall deliver to the Company the Purchase
Price by wire transfer of immediately available funds.
(b) Company Deliveries. At the Closing, or within a reasonable time after the Closing
but in no event later than thirty (30) days after Closing, the Company shall deliver to Buyer the
certificates representing the Shares.
Section 2.5 Further Assurances. The parties hereto shall execute and deliver such
additional documents and take such additional actions as any party reasonably may deem to be
practical and necessary in order to consummate the transactions contemplated by this Agreement.
ARTICLE III
REPRESENTATIONS AND WARRANTIES OF THE BUYER
REPRESENTATIONS AND WARRANTIES OF THE BUYER
Buyer represents and warrants to the Company that the statements contained in this ARTICLE
III are correct and complete as of the date of this Agreement.
Section 3.1 Organization and Good Standing. Buyer is a limited partnership duly
organized, validly existing, and in good standing under the laws of the state of Delaware.
Section 3.2 Power and Authority; Enforceability. This Agreement constitutes the
legal, valid, and binding obligation of Buyer, enforceable against Buyer in accordance with its
terms. Buyer has full entity power and authority to execute and deliver this Agreement and to
perform its obligations hereunder. Buyer has taken all actions necessary to authorize the execution
and delivery of this Agreement, the performance of its obligations hereunder
and the consummation of the transactions contemplated hereby. This Agreement has been duly
authorized, executed and delivered by, and is enforceable against, Buyer.
Section 3.3 Investment Representations.
(a) Buyer is an “accredited investor” as defined in Rule 501 of Regulation D under the
Securities Act.
(b) Buyer has received, has thoroughly read, is familiar with and understands the contents of
this Agreement.
(c) Buyer hereby acknowledges that an investment in the Shares involves certain significant
risks. Buyer acknowledges that there is a substantial risk that it will lose all or a portion of
its investment and that it is financially capable of bearing the risk of such investment for an
indefinite period of time. Buyer has no need for liquidity in its investment in the Shares for the
foreseeable future and is able to bear the risk of that investment for an indefinite period. Buyer
understands that there presently is no public market for the Shares and none is anticipated to
develop in the foreseeable future. Buyer’s present financial condition is such that Buyer is under
no present or contemplated future need to dispose of any portion of the Shares subscribed for
hereby to satisfy any existing or contemplated undertaking, need or indebtedness. Buyer’s overall
commitment to investments which are not readily marketable is not disproportionate to its net worth
and the investment in the Company will not cause such overall commitment to become excessive.
(d) Buyer acknowledges that the Shares have not been and will not be registered under the
Securities Act, or any state securities act, and are being sold on the basis of exemptions from
registration under the Securities Act and applicable state securities acts, except those state
securities acts that require registration of the Shares thereunder. Reliance on such exemptions,
where applicable, is predicated in part on the accuracy of the Buyer’s representations and
warranties set forth herein. Buyer acknowledges and hereby agrees that the Shares will not be
transferable under any circumstances unless Buyer either registers the Shares in accordance with
federal and state securities laws or finds and complies with an available exemption under such
laws. Accordingly, Buyer hereby acknowledges that there can be no assurance that it will be able to
liquidate its investment in the Company.
(e) There are substantial risk factors pertaining to an investment in the Company. Buyer
acknowledges that it has read the information set forth above regarding certain of such risks and
is familiar with the nature and scope of all such risks, including, without limitation, risks
arising from the fact that the Company is an entity with limited operating history and financial
resources; and Buyer is fully able to bear the economic risks of such investment for an indefinite
period, and can afford a complete loss thereof.
(f) Buyer has been given the opportunity to (i) ask questions of and receive answers from the
Company and its designated representatives concerning the terms and conditions of the offering, the
Company and the business and financial condition of the Company and (ii) obtain any additional
information that the Company possesses or can acquire without unreasonable effort or expense that
is necessary to assist Buyer in evaluating the advisability of the purchase of the Shares and an
investment in the Company. Buyer further represents and warrants that, prior to signing this
Agreement, it has asked such questions, received such answers and obtained such information as it
has deemed necessary or advisable to evaluate the merits and risks of the purchase of the Shares
and an investment in the Company. Buyer is not relying on any oral representation made by any
person as to the Company or its operations, financial condition or prospects.
(g) Buyer understands that no federal, state or other governmental authority has made any
recommendation, findings or determination relating to the merits of an investment in the Company.
ARTICLE IV
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
Section 4.1 Organization and Good Standing. The Company is a corporation duly
organized, validly existing, and in good standing under the laws of the State of Delaware.
Section 4.2 Power and Authority; Enforceability. This Agreement constitutes the
legal, valid, and binding obligation of the Company, enforceable against the Company in accordance
with its terms. The Company has full power and authority to execute and deliver this Agreement and
to perform its obligations hereunder. The Company has taken all actions necessary to authorize the
execution and delivery of this Agreement, the performance of its obligations hereunder, and the
consummation of the transactions contemplated hereby. This Agreement has been duly authorized,
executed, and delivered by, and is enforceable against, the Company.
Section 4.3 No Violation; Necessary Approvals. Neither the execution and delivery of
this Agreement by the Company, nor the consummation or performance by the Company of any of
transactions contemplated hereby, will: (a) with or without notice or lapse of time, constitute,
create or result in a breach or violation of, default under, loss of benefit or right under or
acceleration of performance of any obligation required under any Law, Order, contract or Permit to
which the Company is a party or by which it is bound or any of its assets are subject, or any
provision of the Company’s organizational documents as in effect on the Closing Date, (b) result in
the imposition of any lien, claim or encumbrance upon any assets owned by the Company; (c) require
any Consent under any contract or organizational document to which the Company is a party or by
which it is bound; or (d) require any Permit under any Law or Order other than (i) required
filings, if any, with the SEC and (ii) notifications or other filings with state or federal
regulatory agencies after the Closing that are necessary or convenient and do not require approval
of the agency as a condition to the validity of the transactions contemplated hereunder; or (e)
trigger any rights of first refusal, preferential purchase or similar rights with respect to any of
the Shares.
Section 4.4 Authorization of the Shares. The Shares have been duly authorized and,
when issued in accordance with this Agreement, the Shares will be duly and validly issued, fully
paid and non-assessable shares of Common Stock and will be free and clear of all Liens and claims,
other than restrictions on transfer imposed by the Securities Act and applicable state securities
laws.
ARTICLE V
FORFEITURE OF SHARES; ESCROW OF SHARES
FORFEITURE OF SHARES; ESCROW OF SHARES
Section 5.1. Failure to Consummate Business Combination; Partial or No Exercise of the
Over-allotment Option. In the event the over-allotment option granted to the underwriters of
the Company’s IPO is not exercised in full, the Buyer acknowledges and agrees that it shall forfeit
any and all rights to such number of Shares (up to an aggregate of 3,538 Shares and pro rata based
upon the percentage of the over-allotment option exercised) such that immediately following such
forfeiture, the Buyer and all other initial stockholders prior to the IPO will own an aggregate
number of shares of Common Stock (not including shares of common stock issuable upon exercise of
any warrants or any shares purchased by Buyer in the Company’s IPO or in the aftermarket) equal to
20% of the issued and outstanding shares of Common Stock of the Company immediately following the
IPO.
Section 5.2. Termination of Rights as Stockholder. If any of the Shares are forfeited
in accordance with this Section 5, then after such time the Buyer (or successor in interest), shall
no longer have any rights as a holder of such Shares, and the Company shall take such action as is
appropriate to cancel such Shares. In addition, the Buyer hereby irrevocably grants the Company a
limited power of attorney for the purpose of effectuating the foregoing and agrees to take any and
all action reasonably requested by the Company necessary to effect any adjustment in this Section
5.
Section 5.3. Escrow. Upon consummation of the IPO, the Buyer, and its designees,
shall enter into a securities escrow agreement (the “Escrow Agreement”) with Continental Stock
Transfer & Trust Company (the “Escrow Agent”), whereby the Shares (and any Shares of Common Stock
which may be issued as a dividend as a result of a stock split) shall be held in escrow as follows:
(i) 12,055 shares (up to 1,572 of which will be forfeited if the underwriters’ over-allotment
option is not exercised in full) will be held in escrow until the first anniversary of our
initial business combination and (ii) 15,068 shares (up to 1,965 of which will be forfeited if the
underwriter’s over-allotment option is not exercised in full) will be held in escrow and forfeited
on the fifth anniversary of our initial business combination unless, prior to such time, either
(x) the last sales price of our stock equals or exceeds $18.00 per share (as adjusted for stock
splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days
within any 30-trading day period or (ii) a transaction is consummated following our initial
business combination in which all stockholders have the right to exchange their common stock for
cash consideration which equals or exceeds $18.00 per share.
Section 5.4 Waiver of Liquidation Distributions; Redemption Rights. In connection
with the Shares purchased pursuant to this Agreement and any other Company securities purchased on
a private placement basis, the Buyer hereby waives any and all right, title, interest or claim of
any kind in or to any distributions by the Company from the Trust Account (as such term is defined
in the Investment Management Trust Agreement to be entered by and between the Company and the
trustee thereunder), in the event of a liquidation of the Company upon the Company’s failure to
timely complete its initial business combination. For purposes of clarity, in the event the Buyer
purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so
purchased shall be eligible to receive any liquidating distributions by the Company. However, in
no event will the Buyer have the right to redeem any Shares into funds held in the Trust Account
with the Escrow Agent upon the successful completion of a business combination.
ARTICLE VI
RESTRICTIONS ON TRANSFER
RESTRICTIONS ON TRANSFER
Section 6.1. Securities Law Restrictions. In addition to the restrictions contained
in the Escrow Agreement, Buyer agrees not to sell, transfer, pledge, hypothecate or otherwise
dispose of all or any part of the Shares unless, prior thereto (a) a registration statement on the
appropriate form under the Securities Act and applicable state securities laws with respect to the
Shares proposed to be transferred shall then be effective or (b) the Company shall have received an
opinion from counsel reasonably satisfactory to the Company, that such registration is not required
because such transaction is exempt from registration under the Securities Act and the rules
promulgated by the Securities and Exchange Commission (“SEC”) thereunder and with all applicable
state securities laws.
Section 6.2 Restrictive Legends. All certificates representing the Shares shall have
endorsed thereon legends substantially as follows:
“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY
INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL
FOR THIS CORPORATION, IS AVAILABLE.”
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS CONTAINED
IN A STOCK ESCROW AGREEMENT (THE “ESCROW AGREEMENT”) AND MAY NOT BE OFFERED, SOLD, TRANSFERRED,
PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE ESCROW PERIOD (AS DEFINED IN THE ESCROW
AGREEMENT).”
Section 6.3. Additional Shares or Substituted Securities. In the event of the
declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form
other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding capital stock without receipt of
consideration, any new, substituted or additional securities or other property which are by reason
of such transaction distributed with respect to any Shares subject to this Section 6 or into which
such Shares thereby become convertible shall immediately be subject to this Section 6. Appropriate
adjustments to reflect the distribution of such securities or property shall be made to the number
and/or class of Shares subject to this Section 6.
Section 6.4. Registration Rights. Buyer acknowledges that the Shares are being
purchased pursuant to an exemption from the registration requirements of the Securities Act and
will become freely tradable only after they are registered pursuant to a Registration Rights
Agreement. Buyer is entitled to make up to two demands that Company registers the Shares pursuant
to the terms and restrictions as set forth in the Registration Rights Agreement to be entered into
with the Company prior to the closing of the IPO.
ARTICLE VII
MISCELLANEOUS
MISCELLANEOUS
Section 7.1 Entire Agreement. This Agreement, together with the certificates,
documents, instruments and writings that are delivered pursuant hereto, constitutes the entire
agreement and understanding of the parties hereto in respect of its subject matter and supersedes
all prior understandings, agreements, or representations by or among the parties hereto, written or
oral, to the extent they relate in any way to the subject matter hereof or the transactions
contemplated hereby.
Section 7.2 Successors. All of the terms, agreements, covenants, representations,
warranties, and conditions of this Agreement are binding upon, and inure to the benefit of and are
enforceable by, the parties hereto and their respective successors. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no
person or entity shall be regarded as a third-party beneficiary of this Agreement.
Section 7.3 Assignments. Except as otherwise provided herein, no party hereto may
assign either this Agreement or any of its rights, interests, or obligations hereunder without the
prior written approval of the other party. Any purported assignment in violation of this
Section 7.3 shall be void and ineffectual and shall not operate to transfer or assign any
interest or title to the purported assignee.
Section 7.4 Waiver of Jury Trial. THE PARTIES HERETO EACH HEREBY AGREE TO WAIVE THEIR
RESPECTIVE RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY
OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS. THE SCOPE
OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL ACTIONS THAT MAY BE FILED IN ANY
COURT AND THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS, INCLUDING, CONTRACT CLAIMS, TORT
CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THE PARTIES HERETO
EACH ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP
AND THAT THEY WILL CONTINUE TO RELY ON THE WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY
HERETO FURTHER REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND
THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT
IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING
HERETO. IN THE EVENT OF AN ACTION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO TRIAL BY A
COURT.
Section 7.5 Counterparts. This Agreement may be executed in two or more counterparts,
each of which will be deemed an original but all of which together will constitute one and the same
instrument.
Section 7.6 Headings. The article and section headings contained in this Agreement
are inserted for convenience only and will not affect in any way the meaning or interpretation of
this Agreement.
Section 7.7 Governing Law. This Agreement, the entire relationship of the parties
hereto, and any litigation between the parties (whether grounded in contract, tort, statute, law or
equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of
the State of Delaware, without giving effect to its choice of laws principles.
Section 7.8 Amendments. This Agreement may not be amended, modified or waived as to
any particular provision, except by a written instrument executed by all parties hereto.
Section 7.9 Severability. The provisions of this Agreement will be deemed severable
and the invalidity or unenforceability of any provision will not affect the validity or
enforceability of the other provisions hereof; provided that if any provision of this Agreement, as
applied to any party hereto or to any circumstance, is adjudged by a Governmental Body, arbitrator,
or mediator not to be enforceable in accordance with its terms, the parties hereto agree that the
Governmental Body, arbitrator, or mediator making such determination will have the power to modify
the provision in a manner consistent with its objectives such that it is enforceable, and/or to
delete specific words or phrases, and in its reduced form, such provision will then be enforceable
and will be enforced.
Section 7.10 Expenses. Except as otherwise expressly provided in this Agreement, each
party hereto will bear its own costs and expenses incurred in connection with the preparation,
execution and performance of this Agreement and the consummation of the transactions contemplated
hereby, including all fees and expenses of agents, representatives, financial advisors, legal
counsel and accountants.
Section 7.11 Construction. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof will arise favoring or disfavoring any party hereto because of the
authorship of any provision of this Agreement. Any reference to any federal, state, local, or
foreign Law will be deemed also to refer to Law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,” and
"including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine,
and neuter genders will be construed to include any other gender, and words in the singular form
will be construed to include the plural and vice versa, unless the context otherwise requires. The
words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of similar import
refer to this Agreement as a whole and not to any particular subdivision unless expressly so
limited. The parties hereto intend that each representation, warranty, and covenant contained
herein will have independent significance. If any party hereto has breached any representation,
warranty, or covenant contained herein in any respect, the fact that there exists another
representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or
mitigate the fact that such party hereto is in breach of the first representation, warranty, or
covenant.
Section 7.12 Waiver. No waiver by any party hereto of any default, misrepresentation,
or breach of warranty or covenant hereunder, whether intentional or not, may be deemed to extend to
any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or
affect in any way any rights arising because of any prior or subsequent occurrence.
Section 7.13 Further Assurances. Buyer agrees to execute such further instruments and
to take such further action as may reasonably be necessary to carry out the intent of this
Agreement.
Section 7.14 Survival of Representations and Warranties. All representations and
warranties made by the parties hereto in this Agreement or in any other agreement, certificate or
instrument provided for or contemplated herby, shall survive the execution and delivery hereof and
any investigations made by or on behalf of the parties.
Section 7.15 No Broker or Finder. Each of the parties hereto represents to the other
that no broker, finder or other financial consultant has acted on its behalf in conjunction with
this Agreement or the transactions contemplated hereby in such a way as to create any liability on
the other. Each of the parties hereto agrees to indemnify and save the other harmless from any
claim or demand for commission or other compensation by any broker, finder, financial consultant or
similar agent claiming to have been employed by or on behalf of such party and to bear the cost of
legal expenses incurred in defending against any such claim.
IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the date
first set forth above.
| COMPANY: | ||||||
| L&L ACQUISITION CORP. | ||||||
| By: | /s/ Xxxxxxx X. Xxxxxxx
|
|||||
| President | ||||||
| BUYER: | ||||||
| LLM INVESTORS L.P. | ||||||
| By: LLM Advisors L.P., its General Partner | ||||||
| By: LLM Advisors LLC, its General Partner | ||||||
| By: LLM Capital Partners LLC, its Manager | ||||||
| By: | /s/ Xxxxxxxxx X. Xxxxxxx, XX | |||||
| Name: | Xxxxxxxxx X. Xxxxxxx, XX | |||||
| Title: | Managing Director | |||||
Securities Purchase Agreement Signature Page
