Initial Closing Shares definition

Initial Closing Shares has the meaning set forth in Section 2.1.

Initial Closing Shares shall have the meaning set forth in Section 1 of the Subscription Agreement;

Initial Closing Shares means a number of Shares equal to 9.9% of the outstanding common stock of the Company on the Initial Closing Date (or on the most recent practicable date prior to the Initial Closing Date as of which such share count is ascertainable by the parties).

Examples of Initial Closing Shares in a sentence

• For the avoidance of doubt, in the event that a Qualified Financing occurs after the 2019 Closing, the Qualified Financing Shares will be issued in accordance with the terms hereof in addition to the Initial Closing Shares and the 2019 Shares.

• Furthermore, the subject of traffic safety inside tunnels should be addressed from the standpoint of infrastructure and in terms of the measures taken to handle emergencies.

• The obligation of the Company to sell and issue to the Purchaser and the Purchaser to purchase and acquire the Initial Closing Shares at the Initial Closing is subject to delivery by the Company to the Purchaser of evidence reasonably satisfactory to the Purchaser that $12 million has been funded under the Commitment or that there is a binding subscription for $12 million that will be funded under the Commitment.

• On or about the date hereof, the Company shall deliver to the Escrow Agent the executed Subscription Agreement, the Initial Closing Shares, Initial Closing Warrants, and Initial Closing Legal Opinion (collectively, the "Initial Closing Company Documents").

• Seller agrees to deliver any and all share certificates representing Initial Closing Shares and, if any, the Subsequent Closing Shares sold hereunder to Purchaser, properly endorsed to Purchaser, at the Initial Closing and Subsequent Closing, as applicable.

More Definitions of Initial Closing Shares

Initial Closing Shares means, in aggregate, the shares of Common Stock purchased by the Purchaser on the Initial Closing Date in accordance with the terms and conditions herein.

Initial Closing Shares means 216,000 (two hundred sixteen thousand) Preferred Shares.

Initial Closing Shares means 9,310,749 Series D Shares of the Company purchased by the Investor and 4,432,003 of the Existing Shares purchased from the Selling Shareholders at the Initial Closing.

Initial Closing Shares shall be that number of shares of Parent Common Stock equal to 25% of the Parent Share Amount (it being understood and agreed upon that the number of Initial Closing Shares is equal to 15,622,549 on the date hereof), such number of shares to be subject to adjustment pursuant to Section 2.11, and such shares to be issued, in accordance with Section 2.12.

Initial Closing Shares means that number of shares of Common Stock equal to Twenty Five Million ($25,000,000) divided by the Bloomberg volume-weighted average price for a share of Common Stock on the NASDAQ Global Select Market for the 30 trading day period ending on the last day on which the NASDAQ Global Select Market is open (a “Trading Day”) prior to the Execution Date, as defined in the Collaboration Agreement, rounded to the nearest whole share. For the avoidance of doubt, the Initial Closing Consideration represents Twenty Five Million Dollars ($25,000,000) worth of Common Stock plus a Fifteen Million Dollar ($15,000,000) premium, which premium represents the consideration paid in return for certain rights under the Collaboration Agreement, including rights under Sections 8.1 and 8.3 of the Collaboration Agreement.

Initial Closing Shares has the meaning set forth in the recitals to this Agreement.

Initial Closing Shares. “Second Closing Date,” “Second Closing Shares” and “Warrants” shall have the meanings given them in the Securities Purchase Agreement.