Minimum Gross Proceeds Clause Samples
The Minimum Gross Proceeds clause sets a required threshold for the total amount of funds that must be raised in a financing transaction before the deal can proceed or close. In practice, this means that if the specified minimum amount is not reached—such as in a securities offering or fundraising round—the transaction may be canceled or investors' commitments may be returned. This clause ensures that the issuer secures sufficient capital to meet its objectives and protects all parties from proceeding with an underfunded transaction.
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Minimum Gross Proceeds. The Company shall have received (or shall receive concurrently with the Closing) gross proceeds from the Private Placement (including, without limitation, the sale of the Shares to the Purchaser pursuant to this Agreement), at a price per share equal to the Purchase Price, in an aggregate amount of not less than $75,000,000.
Minimum Gross Proceeds. The Company shall simultaneously issue and deliver at such Closing to the Purchasers hereunder in the aggregate at least sufficient Common Shares against payment of an aggregate Purchase Price of at least $75.0 million.
Minimum Gross Proceeds. The Company shall receive at the Closing aggregate gross proceeds from the sale of Shares of at least $15,000,000 but no more than $21,000,000 at a price per share equal to the Purchase Price, and shall simultaneously issue and deliver at the Closing to the Purchasers hereunder an aggregate number of Shares equal to such gross proceeds divided by the Purchase Price.
Minimum Gross Proceeds. The Company shall have received (or shall receive concurrently with the Closing) aggregate gross proceeds from the sale of the Series C Preferred Shares to all Purchasers of not less than $50,000,000.
Minimum Gross Proceeds. The Company shall issue and sell pursuant to this Agreement and the Additional Agreements at least 1,000,000 shares of Common Stock at a price per share equal to the Purchase Price, and shall simultaneously issue and deliver such shares at the Closing to the Purchasers hereunder and the Additional Investors under the Additional Agreements.
Minimum Gross Proceeds. Issuer shall receive from the Escrow Agent and/or Investor via alternate direct settlement at the Closing aggregate gross proceeds from the sale of shares of Common Stock in the Private Placement of at least $10.0 million, at a price per share equal to the Purchase Price, and shall simultaneously issue and deliver at the Closing to the investors in the Private Placement, including the Investor, an aggregate number of shares of Common Stock equal to such gross proceeds divided by the Purchase Price.
Minimum Gross Proceeds. The Company shall simultaneously issue and deliver through the facilities of DTC on the Closing Date to the Purchasers hereunder Preferred Shares against payment of at least the Aggregate Subscription Amount and satisfaction by each Purchaser of all its other obligations pursuant to Sections 2.3 and 5.2.