Examples of Founder Holders in a sentence
Pursuant to the Founder Holders Forfeiture Agreement, the Founders have agreed to forfeit for no consideration up to 1,035,000 Class A Shares (which Class A Shares are issued immediately prior to the Closing upon the automatic conversion of the Class B Shares held by the Founders), in the aggregate, to the extent that the Minimum Cash is less than $415,000,000, as more fully described in the Founder Holders Forfeiture Agreement.
At Closing, each currently issued and outstanding Class B Share will convert into a Class A Share in accordance with the terms of the Current Charter and the Founder Holders Consent Letter.
If, at any time on or prior to December 31, 2022, the daily volume-weighted average price of shares of TDAC Common Stock equals or exceeds $16.00 per share for 20 of any 30 consecutive trading days commencing after the Closing, each Seller shall receive its pro rata portion of 3,000,000 Seller Earnout Shares and the Founder Holders shall receive an aggregate of 2,000,000 shares of TDAC Common Stock.
Please clarify if the TDAC Founder Holders and initial stockholders can earn a positive rate of return on their investment, even if other TDAC shareholders experience a negative rate of return in the post-business combination company.
Please include the current value of loans extended, fees due, and out-of-pocket expenses for which the Founder Holders, their affiliates and officers and directors are awaiting reimbursement.