SPAC Class A Common Stock definition

SPAC Class A Common Stock means the Class A common stock, par value $0.0001 per share, of SPAC.

SPAC Class A Common Stock shall have the meaning set forth in the Recitals.

SPAC Class A Common Stock underlying the units of the SPAC issued in SPAC’s initial public offering (“IPO”) (the “Public Warrants”), (ii) warrants to purchase shares of SPAC Class A common stock underlying the units of SPAC acquired by Avalon Acquisition Holdings LLC (the “Sponsor”), in a private placement concurrent with the IPO (the “Sponsor Private Warrants”), (iii) warrants to purchase shares of SPAC Class A common stock underlying the units of SPAC issuable to the Sponsor or an affiliate of the Sponsor or certain officers and directors of SPAC upon conversion of up to $1,500,000 of working capital loans (the “Working Capital Warrants”), and (iv) all other warrants issued by SPAC after the IPO, in connection with or following the Transactions (the “Post-IPO Warrants” and together with the Public Warrants, the Sponsor Private Warrants, and the Working Capital Warrants, the “Warrants”);

Examples of SPAC Class A Common Stock in a sentence

• The Investor may elect at the time of such repayment to receive such payments in cash or shares of SPAC Class A Common Stock at a rate of 1 SPAC Class A Common Stock share for each $10 of then outstanding, unpaid Investor Capital Contribution previously funded by the Investor.

• Each of the Holdings Public Warrants shall have, and be subject to, substantially the same terms and conditions set forth in the SPAC Warrant Agreement, except as set forth in the Warrant Amendment, including, without limitation, that the Holdings Public Warrants shall represent the right to acquire shares of Holdings Class A Common Stock in lieu of shares of SPAC Class A Common Stock.

• The issued and outstanding SPAC Units are Registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the OTCQX under the symbol “IRRXU.” The issued and outstanding shares of SPAC Class A Common Stock are Registered pursuant to Section 12(b) of the Exchange Act and are listed for trading on the OTCQX under the symbol “IRRX”.

• None of SPAC or its Affiliates has taken any action in an attempt to terminate the registration of the SPAC Units, SPAC Class A Common Stock or SPAC Warrants under the Exchange Act except as contemplated by this Agreement.

• As of the date of this Agreement, SPAC intends to list on the NASDAQ on or before the Closing and there is no material Action pending, or to SPAC’s knowledge, threatened against SPAC by OTCQX, NYSE, NASDAQ or the SEC with respect to any intention by such entity to deregister SPAC Class A Common Stock or prohibit or terminate the listing of SPAC Class A Common Stock on OTCQX or any future listing on NASDAQ.

• Immediately prior to the Effective Time, every issued and outstanding SPAC Unit shall be automatically separated and the holder thereof shall be deemed to hold one share of SPAC Class A Common Stock and one-half of one SPAC Public Warrant in accordance with the terms of the applicable SPAC Unit, and such underlying SPAC securities shall be converted in accordance with the applicable terms of this Section 2.08.