Smart for Life, Inc.Future Equity Agreements • January 21st, 2022 • Smart for Life, Inc. • Medicinal chemicals & botanical products
Smart for Life, Inc., formerly Bonne Santé Group, Inc. (the “Company”), has entered into Future Equity Agreements with you and Ionic Ventures, LLC (the “Purchasers”), dated March 6, 2018 and May 14, 2018, respectively, both of which were amended on March 8, 2019 and February 5, 2020 (these agreements may be referred to as “transaction documents,” each a transaction document”), pursuant to which the Company has agreed to issue shares of its common stock to the Purchasers upon closing of its initial public offering (the “IPO”) as described therein based on the price per share at which common stock is sold in the IPO (the “IPO Price”). We understand that you have agreed that the IPO Price shall not be less than $4.00 per share. We have also agreed that Section 3 of the transaction documents, which addresses restrictions on resale at the IPO is also superseded by this side letter and is of no longer of any force or effect. We have agreed that this side letter will be considered a transacti
