Examples of ASSAC Ordinary Shares in a sentence
In addition, the 5% dividend on the ASSAC Series A Preferred Shares will also be payable in additional ASSAC Ordinary Shares at the Conversion Date and will reflect the Adjusted Purchase Price Values based upon the NAV Appraisals.
ASSAC is duly authorized to issue the ASSAC Ordinary Shares and the ASSAC Preferred Shares pursuant to its Organizational Documents.
As at the date of this Agreement, there are issued and outstanding (i) 14,000,000 ASSAC Ordinary Shares, of which 11,500,000 are held by public shareholders, and (ii) warrants to purchase 17,225,000 additional ASSAC Ordinary Shares at an exercise price of $7.50 per share (the “ASSAC Warrants”), of which (A) 5,725,000 ASSAC Warrants are owned of record by Ho Capital Management LLC, and (B) 11,500,000 ASSAC Warrants are owned by public shareholders.
As at the Effective Time, each issued and outstanding share of ASSAC Ordinary Shares, if any, that is owned of record by CHTL immediately prior to the Effective Time of the Merger shall automatically be cancelled and returned and shall cease to exist and no consideration shall be delivered in exchange therefor.
On the Effective Time, ASSAC shall have sufficient authorized ASSAC Ordinary Shares to complete the Merger and issue the maximum number of shares of ASSAC Ordinary Shares that may constitute Merger Consideration.
Each of the 17,225,000 issued and outstanding warrants to purchase ASSAC Ordinary Shares (the “ASSAC Warrants”) that are issued and outstanding as at the Effective Time of the Merger shall remain issued and outstanding following the Effective Time of the Merger, except as otherwise provided in Section 1.7(i) below.
In addition, the 5% dividend on the ASSAC Series A Preferred Shares will also be payable in additional ASSAC Ordinary Shares at the Conversion Date and will reflect the Adjusted Purchase Values based upon the NAV Appraisals.
As of the Effective Time, all shares of CHTL Preferred Stock shall no longer be issued or outstanding and shall automatically be canceled and retired and shall cease to exist, and each holder of a certificate representing any such shares of CHTL Preferred Stock shall cease to have any rights with respect thereto, except the right to receive the ASSAC Ordinary Shares, without interest, based on the Class A Common Stock Exchange Ratio.
As at the Execution Date and immediately prior to the Closing, the issued and outstanding share capital of ASSAC will consist of (a) 14,000,000 ASSAC Ordinary Shares, (b) warrants to issue an additional 18,000,000 ASSAC Ordinary Shares, and (c) 10,706,667 ASSAC Executive Shares.
In addition, subject to their agreement to become Chief Executive Officer of ASSAC and a member of the ASSAC Board of Directors following consummation of the Closing, ASSAC presently intends to issue additional ASSAC Ordinary Shares and options to Xxxxxxxx Xxxxxx and Xxxxxx X.