Examples of Initial Per Share Purchase Price in a sentence
On the Initial Closing Date, Seaside shall purchase from the Company, and the Company shall issue and sell to Seaside, 1,500,000 Shares at the Initial Per Share Purchase Price.
Upon the terms and subject to the conditions set forth in this Agreement, the Company agrees to sell to Purchaser, and Purchaser agrees to purchase from the Company, additional shares (the “Secondary Shares” and, together with the Initial Shares, the “Shares”) of Common Stock at the Initial Per Share Purchase Price for an aggregate purchase price of One Hundred and Fifty Thousand Dollars ($150,000) (the “Secondary Purchase Price”).
Seaside understands and acknowledges that the Company has an existing financing agreement with Cantor Xxxxxxxxxx and the existence of such agreement in any Lock-Up Period does not represent a breach of this Section 4.10; provided, however, that any equity takedown from such agreement during any Lock-Up Period must be priced at more than 130% of the Initial Per Share Purchase Price or Subsequent Per Share Purchase Price, as applicable.
On each Closing Date, Seaside shall deliver or cause to be delivered to the Company an amount equal to the Initial Per Share Purchase Price or Per Share Purchase Price, as applicable, times 500,000, by wire transfer to the account as specified in writing by the Company, less the amount due Seaside for reimbursement of its expenses as described in Section 5.2 hereof.
Such secondary purchase and sale shall be referred to herein as the “Secondary Investment” and, together with the Initial Investment, the “Investments.” The number of Secondary Shares so purchased shall be equal to the quotient (rounded to the nearest whole number) obtained by dividing (a) the Secondary Purchase Price by (b) the Initial Per Share Purchase Price.