Common use of Equity Purchase Clause in Contracts

Equity Purchase. On the Execution Date, Licensee and Company shall execute (a) a Stock Purchase Agreement, pursuant to which (i) Licensee will purchase 3,000,000 shares (the “Purchased Shares”) of common stock, par value $0.01 per share, of Company (“Common Stock”) for an aggregate purchase price of $14,691,930 and (ii) Company will execute and deliver to, and in favor of, Licensee, a warrant on customary terms reasonably acceptable to Licensee (the “Warrant”), pursuant to which Licensee will have the right, until February 10, 2020, to purchase up to 8,655,804 shares (the “Warrant Shares”) of Common Stock at an exercise price of $4.90 per share (in each case, subject to adjustment in accordance with the terms of the Warrant), and (b) a Registration Rights Agreement, pursuant to which Company will agree to register the Purchased Shares and the Warrant Shares.