Examples of SPAC Class B Ordinary Shares in a sentence
All outstanding SPAC Class A Ordinary Shares and SPAC Class B Ordinary Shares have been duly authorized, validly issued, fully paid and are non-assessable and are not subject to, nor have been issued in violation of, any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right.
Age is less important and (shown) competencies are expressed in labour market value.
Sponsor hereby consents to the conversion of its SPAC Class B Ordinary Shares (and any shares into or for which such shares are converted or exchanged in connection with the Domestication) into shares of Surviving Pubco Class B Common Stock on a one-for-one basis after giving effect to the automatic conversion contemplated in the SPAC Organizational Documents upon the Closing.
The calculation of return on assets is based on net profit divided by total assets and multiplied by 100%.
Immediately prior to the First Effective Time, each SPAC Class B Ordinary Share shall be automatically converted into one SPAC Class A Ordinary Share in accordance with the terms of the SPAC Charter (such automatic conversion, the “SPAC Class B Conversion”) and each SPAC Class B Ordinary Share shall no longer be issued and outstanding and shall be cancelled, and each former holder of SPAC Class B Ordinary Shares shall thereafter cease to have any rights with respect to such shares.
The term "conversion" shall mean the completed process whereby Bethel Savings, FSB Bank will be converted from a federally chartered mutual savings bank to a federally charted stock savings bank and Bethel Bancorp shall become the holding company for Bethel Savings Bank, FSB.
Immediately following the completion of the Sponsor Share Forfeiture and before the First Merger Effective Time, Sponsor will hold an aggregate of 3,853,475 SPAC Class B Ordinary Shares, and all such shares will be exchanged for ordinary shares of the Company, par value $0.00002 per share, on a one-for-one basis in connection with the First Merger (the “Sponsor Share Conversion”).
Schedule 3.5(a) sets forth a true and complete list of the holders of the SPAC Class B Ordinary Shares, along with the number of Class B Ordinary shares held by each of them, and the number and type of shares of capital stock of the SPAC held by Sponsor and each of its Affiliates.
As of the date of this Agreement, the authorized share capital of SPAC consists of (i) 50,000,000 SPAC Class A Ordinary Shares, 40,000,000 of which are issued and outstanding as of the date of this Agreement, (ii) 50,000,000 SPAC Class B Ordinary Shares, of which 10,000,000 shares are issued and outstanding as of the date of this Agreement, and (iii) 5,000,000 preference shares of par value $0.0001 each, of which no shares are issued and outstanding as of the date of this Agreement.
For the purposes of Sections 4.1, 4.2, 4.3 and 4.6 hereof, the Subject Shares shall not include the 400,000 SPAC Class B Ordinary Shares to be Transferred by the Sponsor to Fuji Solar after the date hereof and before the Merger Closing upon completion of such Transfer.