Qualified Initial Public Offering definition

Qualified Initial Public Offering means a firm underwritten offering of the Company pursuant to a registration statement under the Securities Act (i) of common Capital Stock having an aggregate gross offering price of at least $50,000,000 and (ii) reasonably expected to result in more than 100 holders of record of Voting Stock of the Company (exclusive of holdings of Affiliates and employees of the Company).

Qualified Initial Public Offering means the initial sale by the Company of any class or classes of the Common Stock in an offering registered under the Securities Act, other than an offering made solely in connection with a business acquisition or combination or an employee benefit plan, but only if the aggregate gross proceeds received by the Company and/or its majority stockholder in such initial sale or series of such sales in the aggregate are in excess of $40 million.

Qualified Initial Public Offering means the completion of an underwritten Public Offering representing at least 10% of the Fully Diluted Eligible Shares of the Company, other than registrations on Form S-4 (business combinations) or Form S-8 (employee benefit plans).

Examples of Qualified Initial Public Offering in a sentence

• In the process of business, a decision was taken by the petitioner company to make a Qualified Initial Public Offering (‘QIPO’ for short).

• Term of Conversion: Upon the earlier of (i) a period of 20 (twenty) years from the date of issue of the respective tranche of Series A Preference Shares; or (ii) the occurrence of a Qualified Initial Public Offering of the Shares of the Company or at the discretion of Investors.

• In the event that the Company consummates an Initial Public Offering, which does not qualify as a Qualified Initial Public Offering, the Board may still, in its discretion, apply a multiplier of up to 200% to the Executive’s Annual Bonus.

• Under regulation 5(2) of the Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018 [SEBI ICDR Regulations], any company which has any outstanding convertible securities or any other right which would entitle any person with any option to receive equity shares of the issuer, is not entitled to make a Qualified Initial Public Offering (QIPO).

• Subject to applicable Law, the Investors shall not be required to provide any representations or warranties, other than in respect of its title to the equity shares and the Investors capacity to Transfer the equity shares, in respect of any Transfer of equity shares pursuant to these Articles and the Agreement, including pursuant to this Article 64 (Qualified Initial Public Offering).

More Definitions of Qualified Initial Public Offering

Qualified Initial Public Offering means a public offering of the securities of Parent pursuant to an effective registration statement filed under the Securities Act, that is fully underwritten pursuant to a firm commitment contract and with respect to which the product of (a) the price to the public per share multiplied by (b) the aggregate number of offered shares will yield Net Offering Proceeds of at least $50,000,000.

Qualified Initial Public Offering means the closing of the Company’s first firm commitment underwritten public offering of its Common Stock at a price per share of not less than four times the Original Purchase Price pursuant to an effective S-1 registration statement under the Securities Act which generates aggregate proceeds to the Company (net of underwriting discounts and commissions) of at least ten million dollars.

Qualified Initial Public Offering means an Initial Public Offering that generates net proceeds to the Company and selling stockholders of at least $35,000,000.

Qualified Initial Public Offering means the closing of a firm commitment underwritten public offering, pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”), covering the offer and sale of Common Stock to the public that raises gross proceeds for the Corporation of at least $75,000,000 and at an initial price per share to the public at least equal to two and one-half (2½) times the then-applicable Series CC Conversion Price (as defined in Article Eighth).

Qualified Initial Public Offering means the initial offering and sale by the Partnership of Limited Partnership Interests to the public pursuant to a registration statement that has been declared effective by the Commission and which results in the listing or quotation of such Limited Partnership Interests on a national securities exchange or quotation system.

Qualified Initial Public Offering means a registered public offering or registered public offerings on a national securities exchange of any class of common shares of the Company or TP Re under the United States securities laws or any amalgamation, scheme of arrangement or consolidation as a result of which the members of the Company receive, as the consideration in such amalgamation, scheme of arrangement or consolidation, equity securities of a class that (i) has been registered as part of a public offering under the United States securities laws and (ii) is publicly traded on a national securities exchange, immediately following which the Company and TP Re together shall have received no less than U.S. $150,000,000.

Qualified Initial Public Offering has the meaning set forth in the Certificate of Incorporation.