Examples of Series C Investor in a sentence
In connection with the above transactions, MP CardioFlow Cayman also intends to write put options to the CardioFlow Series C Investor and certain other original shareholders (or its subsidiary) of MP CardioFlow Shanghai (the “Investors”) upon adoption of its first amended and restated memorandum and articles of association (the “Restated Memorandum and Articles”).
On 22 March 2019, the Group, the other original shareholders (or its subsidiary) of MP CardioFlow Shanghai and the CardioFlow Series C Investor also entered into a share purchase agreement (the “CardioFlow Series C SPA”), pursuant to which, among others, the CardioFlow Series C Investor agreed to subscribe for, and MP CardioFlow Cayman agreed to sell and issue 12,500,000 preferred shares of MP CardioFlow Cayman to the CardioFlow Series C Investor at a price of US$50,000,000.
The put options will give the CardioFlow Series C Investor the rights to require MP CardioFlow Cayman to re-acquire the redeemable preferred shares from the CardioFlow Series C Investor under certain conditions at a consideration specified under the Restated Memorandum and Articles of MP CardioFlow Cayman.
The CardioFlow Series C Investor will hold 12.5% of enlarged share capital (including ordinary shares and preferred shares) of MP CardioFlow Cayman and Group’s effective interest in MP CardioFlow Shanghai will decrease from 64.72% as at 31 December 2018 to 56.63% upon the completion of the Restructuring (including investment by CardioFlow Series C Investor under the CardioFlow Series C SPA).
Upon the completion of the Restructuring (without consideration of the investment by Series C Investor) (i) MicroPort CardioFlow Medtech Corporation (the “MP CardioFlow Cayman”, a subsidiary of the Group) will indirectly hold the entire equity interest in MP CardioFlow Shanghai; and (ii) the original shareholders of MP CardioFlow Shanghai will, directly or indirectly, hold shares of MP CardioFlow Cayman in the same proportion to their shareholdings in MP CardioFlow Shanghai before the Restructuring.