Initial Stockholder Shares means the 6,579,861 shares of Novus’s Class B common stock, initially purchased by the Novus Initial Stockholders in a private placement in connection with the IPO of which 657,986 shares will be forfeited upon the consummation of the Business Combination and the remaining 5,921,874 shares will automatically convert to Novus Common Stock upon consummation of a business combination by Novus.

Initial Stockholder Shares means the 2,875,000 shares of Adara’s Class B common stock, initially purchased by the Sponsor in a private placement in connection with the IPO of which (i) 50,000 shares were transferred to ThinkEquity and its designees and (ii) between 875,000 and 1,375,000 of such shares are subject to forfeiture by the Sponsor upon consummation of the Business Combination, the exact number to be determined by Alliance, which will automatically convert to Combined Company Common Stock upon consummation of a business combination by Adara.

Initial Stockholder Shares means the 2,500,000 shares of Novus common stock initially purchased by the Novus Initial Stockholders in a private placement in connection with the Novus IPO.

Examples of Initial Stockholder Shares in a sentence

Up to an additional 500,000 Initial Stockholder Shares are subject to forfeiture by the Sponsor at the discretion of Alliance.
This row assumes that the Sponsor forfeits 875,000 Initial Stockholder Shares.
Pursuant to the Sponsor Support Agreement, the Adara Initial Stockholders have agreed to vote all of their Initial Stockholder Shares and any Public Shares acquired by them in favor of the Business Combination and each of the Stockholder Proposals.
The Adara Initial Stockholders have no redemption rights in the event a business combination is not consummated in the required time period, and, accordingly, their Initial Stockholder Shares will be worthless.
Xxxxx proposed eliminating the escrow agreement and subjecting the Initial Stockholder Shares to the Sponsor Restricted Stock Escrow Agreement, initially with the same price targets and release terms as were contemplated in the letter of intent.

More Definitions of Initial Stockholder Shares

Initial Stockholder Shares has the meaning set forth in the preamble.

Initial Stockholder Shares means the 4,687,500 shares of Common Stock owned by the Initial Stockholder, prior to the Private Placement.

Initial Stockholder Shares means 1,500,000 shares of Class A common stock that currently are owned by the Adara Initial Stockholders, The Initial Stockholder Shares were shares of Class B common stock, par value $0.0001 per share, of Adara that automatically converted into shares of Class A common stock upon the closing of the Business Combination.

Initial Stockholder Shares has the meaning set forth in the recitals.

Initial Stockholder Shares means (i) any Common Stock held by Initial Stockholders on the date hereof, (ii) any capital stock or other Equity Securities issued or issuable directly or indirectly with respect to the Common Stock referred to in clause (i) above by way of stock dividend, stock split, merger reorganization, reclassification, whether voluntary or involuntary, or other similar transaction. For purposes of this Agreement, any Person who holds Initial Stockholder Shares as a result of a Transfer of Initial Stockholder Shares in accordance with the provisions of this Agreement shall be deemed to be a holder of Initial Stockholder Shares. As to any particular Initial Stockholder Shares, such shares shall cease to be Initial Stockholder Shares when they have been (A) effectively registered under the Securities Act and disposed of in accordance with the registration statement covering them, (B) distributed to the public through a broker, dealer or market maker pursuant to Rule 144 or (C) repurchased by the Company or any Subsidiary.