Sponsor Shares definition

Sponsor Shares shall have the meaning given in the Recitals hereto.

Sponsor Shares is defined in the recitals to this Agreement.

Sponsor Shares means the shares of Common Stock comprising part of the Sponsor Units.

Examples of Sponsor Shares in a sentence

• The Company shall not invest or otherwise use the proceeds received by the Company from its sale of the Offered Securities and the Sponsor Shares in such a manner as would require the Company to register as an investment company under the Investment Company Act.

• The Company shall apply the net proceeds from the sale of the Offered Securities and the Sponsor Shares sold by it in a manner consistent in all material respects with the applications described under the caption “Use of Proceeds” in the Registration Statement, the Time of Sale Prospectus and the Prospectus.

• The Sponsor Shares Purchase Agreement has been duly authorized, executed and delivered by the Company and the Sponsor, and is a valid and binding agreement of the Company and the Sponsor, enforceable against the Company and the Sponsor in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.

• The Sponsor Shares have the general voting powers of the Company and the holders of Participating Shares are entitled to receive notice of and attend all general meetings of the members.

• The Participating Shares are entitled to receive, to the exclusion of the Sponsor Shares, any dividends which may be declared by the Board of the Company and, upon the winding up of the Company, their par value and any surplus remaining after paying to the holders of the Sponsor Shares the par value of the Sponsor Shares (to the extent actually paid up in cash).

More Definitions of Sponsor Shares

Sponsor Shares has the meaning set forth in Section 5.4(c).

Sponsor Shares means the 100 Opco Class A Units and corresponding number of shares of Class B Common Stock (which together will be exchangeable into shares of Class A Common Stock after the Business Combination on a one-for-one basis, subject to adjustment) and the 2,500 shares of Class A Common Stock purchased by the Sponsor in a private placement prior to the Public Offering.

Sponsor Shares means (a) all shares of Common Stock originally issued to, or issued with respect to shares originally issued to, or held by, a Sponsor, whenever issued, including all shares of Common Stock issued upon the exercise, conversion or exchange of any Options, Warrants or Convertible Securities and (b) all Options, Warrants and Convertible Securities originally granted or issued to a Sponsor (treating such Options, Warrants and Convertible Securities as a number of shares of Common Stock equal to the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except as otherwise specifically set forth herein).

Sponsor Shares means Shares held by the Sponsors.

Sponsor Shares means shares of 10X Capital Class B Common Stock, 5,031,250 of which are currently outstanding and were issued to the Sponsor prior to the IPO, which shall convert into 7,931,250 shares of 10X Capital Class A Common Stock immediately prior to the Merger based on the Conversion Ratio.

Sponsor Shares means the aggregate of 43,125,000 SRNG Class B ordinary shares held by the Sponsor.

Sponsor Shares means 5,527,093 shares of common stock (net of cancellations from the original 5,750,000 shares of common stock sold) in the aggregate originally sold to the Sponsor and Metric at $0.004 per share, and subsequently sold to the anchor investors at the same purchase price or transferred other shareholders as an inducement to complete and finance the Business Combination.