March 18, 2004Redemption and Waiver of Payments • March 25th, 2004 • Immersion Corp • Computer peripheral equipment, nec
Immersion and Microsoft entered into a Series A Preferred Stock Purchase Agreement dated as of July 25, 2003 (the "Purchase Agreement"), pursuant to which Microsoft purchased 2,185,792 shares of the Company's Series A Redeemable Convertible Preferred Stock (the "Series A Preferred Stock"). The parties also entered into a Registration Rights Agreement dated as of July 25, 2003 (the "Registration Rights Agreement"). Under the Registration Rights Agreement, Immersion agreed to file a registration statement to register those shares of Immersion common stock to be issued upon conversion of the Series A Preferred Stock (the "Registration Statement"). Pursuant to Article 7(a) of Immersion's Certificate of Designation of the Series A Preferred Stock (the "Certificate of Designation"), Immersion has the option to redeem all of the shares of the Series A Preferred Stock under certain circumstances.
