Examples of Qualified Private Offering in a sentence
In the event that prior to the consummation of or in connection with a Qualified Private Offering, the Corporation shall issue or sell any Additional Shares of Common Stock, other than Permitted Issuances, for a consideration per Additional Share of Common Stock less than the applicable Conversion Price, then the applicable Conversion Price shall be reduced to the consideration per Additional Share of Common Stock paid for such Additional Shares of Common Stock.
If the Company completes a private offering of its equity securities in which (i) the Company receives gross proceeds of no less than three million ($3,000,000) dollars from the sale of such equity securities, and (ii) the effective purchase price of the Common Stock sold (the conversion price and/or exercise price if Common Stock is not sold directly) in the Qualified Private Offering is $1.50 (subject to stock splits or other events) or more per share of Common stock (a "QUALIFIED PRIVATE OFFERING").
The Project development objectives are to: (a) increase the electricity supply and the reliability and cost-effectiveness of electricity services; and (b) enhance the performance of key energy sector institutions.Revised Project Development Objectives (as approved by original approving authority):The project development objectives were not revised during the life of the project.
The term "Qualified Private Offering" shall mean a private offering of the Corporation's securities raising gross proceeds of at least $20,000,000 where the pre-money valuation is at least 2.5 times the post-private placement valuation of the Corporation and where the offering price per share is at least 2.5 times the then Conversion Price.
Each Preferred Share shall automatically be converted into fully paid Ordinary Shares of the Company on the basis set forth in Article 7(5)(a) immediately upon the consummation of (i) a Qualified IPO or (ii) a Qualified Private Offering.
The transaction contemplated by this Agreement shall constitute a Qualified Private Offering in accordance with the terms of the Current Certificate and the Second Amended and Restated Stockholders' Agreement.
No Seller shall take any action necessary or required to render or cause the transactions contemplated in this Agreement to fail to constitute a Qualified Private Offering in accordance with the terms of the Current Certificate and the Second Amended and Restated Stockholders' Agreement.
At the time of conversion of any Series B Preferred Shares upon a Qualified IPO pursuant to Article 7(5)(g) or in the event of a Qualified Private Offering, the Series B Cumulative Annual Dividend Amount shall not be payable by the Company and shall be deemed forfeited as of the effective date of such event.
This Warrant and all rights hereunder shall -------------------------- expire automatically if the Holder (as defined in the Note) fails to exercise its Optional Conversion Right within thirty (30) days of the later of (a) date a registration statement registering the Underlying Shares (as defined in the Note) is declared effective with the Securities and Exchange Commission; and (b) the date the Company has consummated a Qualified Private Offering (as defined in the Note).
Each outstanding share of Preferred Stock shall automatically be converted, without any further act of the Corporation or its stockholders, into fully paid and nonassessable shares of Common Stock at the Conversion Price then in effect upon the closing of (i) a Qualified Public Offering or (ii) a Qualified Private Offering.