Option Securities definition
Examples of Option Securities in a sentence
An Underwriter will not be under any obligation to purchase any Option Securities prior to the exercise of the Option by the Representative.
The purchase price per share for the Securities to be paid by the several Underwriters shall be $3.80, being an amount equal to the public offering price set forth above less $0.20 per share, subject to adjustment in accordance with Section 2(b) for dividends or distributions declared by the Company and payable on the Initial Securities but not payable on the Option Securities.
If requested by the Representatives, the opinion and negative assurance letter of Kirkland & Ellis LLP, counsel for the Company, in form and substance reasonably satisfactory to counsel for the Underwriters, dated such Date of Delivery, relating to the Option Securities to be purchased on such Date of Delivery and otherwise to the same effect as the opinion required by Section 5(b) hereof.
The option hereby granted may be exercised for 30 days after the date hereof and may be exercised in whole or in part at any time from time to time upon notice (an “Option Exercise Notice”) by the Representatives to the Selling Stockholders setting forth the number of Option Securities as to which the several Underwriters are then exercising the option and the time and date of payment and delivery for such Option Securities.
If requested by the Representatives, the opinion and negative assurance letter of Kirkland & Ellis LLP, counsel for the Selling Stockholders, in form and substance reasonably satisfactory to counsel for the Underwriters, dated such Date of Delivery, relating to the Option Securities to be purchased on such Date of Delivery and otherwise to the same effect as the opinion required by Section 5(c) hereof.