Newly Issued Shares definition
Examples of Newly Issued Shares in a sentence
Subject to the terms and conditions of this Agreement, the Company agrees to sell to the Investor and the Investor agrees to purchase from the Company a total of 3,280,000 Shares (the "Newly Issued Shares") for an aggregate purchase price of $3,444,000, or $1.05 per share, in cash.
It is understood that the certificates evidencing the Newly Issued Shares, the Warrants and the Common Stock underlying the Warrants may bear a legend in substantially the following form: "THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT").
Within three business days of the execution of this Agreement, the Company will deposit with the Escrow Agent (iii) one or more duly stamped and executed certificates for the Newly Issued Shares; (iv) duly executed Warrants; and (v) any other documents that may be necessary to consummate the purchase and sale of the Newly Issued Shares in accordance with this Agreement.
On the Closing Date, the Company shall have delivered, or shall have caused to be delivered, to the Investor one or more certificates representing the Newly Issued Shares and the Warrants.
All authorizations, approvals or permits, if any, of any governmental authority or regulatory body, including the Nasdaq Stock Market, that are required in connection with the lawful issuance and sale of the Newly Issued Shares and Warrants pursuant to this Agreement shall have been duly obtained and shall be effective on and as of the Closing.