IPO Conditions Sample Clauses
The IPO Conditions clause sets out the specific requirements and prerequisites that must be satisfied before a company can proceed with an initial public offering (IPO). These conditions may include obtaining necessary regulatory approvals, meeting financial reporting standards, or securing shareholder consent. By clearly outlining these steps, the clause ensures that all parties understand what must be accomplished before the IPO can take place, thereby reducing uncertainty and helping to prevent disputes or delays in the public offering process.
IPO Conditions. The IPO Conditions Satisfaction Date shall have occurred.
IPO Conditions. The IPO Conditions time shall be deemed to have occurred at such time as all of the following shall have been satisfied (such time, the “IPO Conditions Satisfaction Date”):
IPO Conditions. (a) On the Funding Date (following the consummation of the transactions under the Portfolio Sellers Purchase and Sale Agreements and the funding of the Loan), the Borrower shall, or shall cause the following to occur (except that the registration statement referred to in clause (iii) of this Section 5.09(a) may be filed prior to the Funding Date):
(i) the filing of a Form N-54A electing the Borrower to be regulated as a “business development company” under the Investment Company Act (the “BDC Election”);
(ii) the final amendments to the Registration Statement, in form and substance reasonably satisfactory to the Lender, to be filed with the SEC, and the Registration Statement, as amended thereby, to be declared effective by the SEC; and
(iii) the filing of a registration statement on Form 8-A, in form and substance reasonably satisfactory to the Lender, with the SEC.
(b) Within one (1) Business Day after the Funding Date the Borrower shall cause the pricing of the IPO to occur and the Underwriting Agreement (in the form attached hereto as Exhibit B with such changes as to which the Lender shall consent (such consent not to be unreasonably withheld if such changes are not adverse to the Lender)) to have been duly executed and delivered by each party thereto and to be effective, and a fully executed copy of the Underwriting Agreement to be delivered to Lender along with any other evidence reasonably requested by the Lender to prove that such agreement is effective (the “IPO Pricing”).
(c) Within two (2) Business Days after the Funding Date, the Borrower’s common stock shall have commenced trading on the NASDAQ exchange on a “when-issued” basis.
(d) Within four (4) Business Days after the IPO Pricing:
(i) the Borrower shall, or shall cause each other document or action to be taken as may be required by the Underwriters to expedite or facilitate the settlement of the IPO; and
(ii) the IPO shall have been consummated, whereby the aggregate cash proceeds thereof received by the Borrower (net of all fees, commissions, costs and other expenses incurred in connection therewith) are not less than $60,000,000 (the covenants set forth in clauses (a) – (d) of this Section 5.09 are referred to herein as, the “IPO Conditions”).
IPO Conditions. As of the Initial Funding Date, the IPO Conditions have been consummated and the IPO has resulted in aggregate net cash proceeds to the Borrower of not less than $75,000,000.