Examples of IPO Units in a sentence
Only holders of IPO Units shall be entitled to receive liquidating distributions with respect to the IPO Units they beneficially own and the Company shall pay no liquidating distributions with respect to any other shares of capital stock of the Company.
With respect to the Business Combination Vote, the Company shall cause the Initial Stockholders to vote the shares of Common Stock owned by them immediately prior to the consummation of the offering in accordance with the vote of the holders of a majority of the IPO Units present, in person or by proxy, at a meeting of the Company’s stockholders called for such purpose.
In the event that the Business Combination is consummated, for each holder of IPO Units who affirmatively requested that such Units be converted and who voted against the Business Combination, the Company will convert such holder’s IPO Units into cash at the Conversion Price.
If holders of 30% or more in interest of the IPO Units vote against approval of a potential Business Combination and elect to convert their IPO Units into cash at the Conversion Price, the Company will not proceed with such Business Combination and will not convert such IPO Units.
Furthermore, each transfer of a IPO Unit on the register relating to such IPO Units shall operate also to transfer the Public Warrants included in such IPO Unit.