Next Financing definition
Next Financing means an equity financing by the Company after the date hereof.
Next Financing means the closing of a sale of equity or convertible debt securities by the Company or any Subsidiary, or series of closings, as part of the same transaction, of equity or convertible debt securities within a period of three months, in the gross amount of at least $11,000,000.
Next Financing means the Company's next sale of its Common Stock or Preferred Stock (with or without other securities of the Company or some combination thereof) in one transaction or series of related transactions, occurring at any time before the earlier of (a) the date the Note becomes due and (b) the Closing of an Initial Public Offering, for an aggregate purchase price paid to the Company of no less than Ten Million Dollars ($10,000,000) (excluding the principal amount of any Notes converted into capital stock and issued therein).
Examples of Next Financing in a sentence
Any Major Investor will remain a Major Investor for all purposes in the Next Financing Documents to the extent such concept exists.
Any Major Purchaser will remain a Major Purchaser for all purposes in the Next Financing Documents to the extent such concept exists.
Notwithstanding anything herein to the contrary, upon the execution and delivery of the Next Financing Documents by Investors holding a majority of the then outstanding Shares held by all Investors, this Agreement (excluding any then-existing obligations) shall be amended and restated by and into such Next Financing Documents.
Upon the conversion of this Note, fractional shares representing New Securities shall be issued only if fractional shares are issuable in connection with the Next Financing to investors generally.
The “Common Stock Equivalent Price” shall initially be the closing offering price in the Next Financing and shall be adjusted as set forth in Section 2.2(d) below.
More Definitions of Next Financing
Next Financing is a transaction or series of related transactions after the date of this Note that is approved by the board of directors of the Company in which the Company issues and sells shares of its capital stock in exchange for aggregate gross proceeds of at least $1,500,000 (excluding any amounts received upon conversion or cancellation of the Notes).
Next Financing means the first round of preferred stock financing (including if issued in combination with other securities) of Licensee after the last and final sale of Series B Preferred Stock and all obligations and rights to purchase Series B Preferred Stock have expired or been satisfied.
Next Financing means the first public or private offering of equity, including convertible debt, of the Company following the Effective Date hereof and any other public or private offering of equity of the Company occurring within four (4) months of such first offering. Provided however, that if the first offering is an acquisition of the company, then "Next Financing" refers to that acquisition and does not include additional financings of any kind following that acquisition. And further provided that Next Financing does not apply to bridge loan financing that is intended as an interim bridge financing to the Next Financing and that totals less than $5 Million. The Warrant may be exercised in whole or in part, may be exercised at any time and shall give NBC registration rights consistent with existing registration rights held by preferred stock holders (including 180 day lockup upon an IPO) in connection with any capital stock that it acquires. The consideration for the Warrants shall be NBC's agreement to enter into this Letter Agreement. The Warrant shall terminate on the fifth anniversary of its issuance. When exercising the Warrant, NBC shall have the right to either (i) purchase the total number of shares of common stock which the Warrant entitles NBC to purchase at the exercise price described above or (ii) receive the net number of shares of common stock arising from the difference between the market price of such stock at the date of exercise and the exercise price for the Warrant, as established above. Recognizing that time is of the essence, this Section 8(b) shall serve as the initial binding agreement of the parties with respect to the Warrant, and the parties hereto shall use their good faith efforts to complete a more formal agreement for the issuance, sale and purchase of the Warrant (a "Warrant Purchase Agreement"), which shall include representations, warranties and covenants of the Company at least as extensive as those provided in the most recent securities purchase agreement entered into by the Company and consistent with the terms hereof; provided, however, that, if no such -------- --------- formal agreement is reached, the terms and conditions contained in this Section 8(b) and Section 13 shall govern the relationship of the parties hereto with respect to the Warrant.
Next Financing means any transaction (or series of related transactions) after the date of this Warrant and before Maturity in which the Company issues and sells its equity securities in any transaction; provided however, that none of the following issuances of securities shall constitute a “Next Financing”: (i) the Note or the other Notes; (ii) securities issued in connection with any stock or unit split of or stock or unit dividend on the Company’s securities; (iii) securities issued to the Company’s employees, officers, directors, consultants, advisors or service providers pursuant to any plan, agreement or similar arrangement unanimously approved by the Company’s board of directors or managers, as applicable; (iv) securities issued to banks or equipment lessors; (v) securities issued in connection with sponsored research, collaboration, technology license, development, OEM, marketing or other similar agreements or strategic partnerships; (vi) securities issued in a firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”); (vii) securities issued in connection with a bona fide business acquisition of or by the Company (whether by merger, consolidation, sale of assets, sale or exchange of stock or otherwise); (viii) securities issued for a charitable purpose; (ix) securities issued in connection with the conversion of the Company to a corporation; (x) securities issued in connection with or pursuant to that Investment Unit dated October 1, 2010, issued by the Company to the Office of the Governor Economic Development and Tourism; or (xi) any right, option or warrant to acquire any security convertible into or exercisable for the securities listed in clauses (i) through (x) above.
Next Financing shall have the meaning assigned to such term in Section 4.7.
Next Financing has the meaning ascribed to it in the Note.
Next Financing means the next equity financing transaction or series of related transactions involving aggregate gross proceeds to the Company of at least $4,000,000 (or any lesser amount if consented to in writing by the Company and the holders of a majority of the then outstanding principal amount of the Notes (as defined in the Agreement)) excluding amounts received pursuant to the conversion of any outstanding Notes.