Primary Subscription Sample Clauses
A Primary Subscription clause defines the initial allocation of securities or shares to investors during the first round of an offering. It typically outlines the terms under which existing or new investors can subscribe to a set number of shares at a specified price before any additional offerings are made. For example, in a rights issue, this clause would govern how much each investor is entitled to purchase based on their existing holdings. The core function of this clause is to ensure a fair and orderly process for distributing new shares, often protecting existing shareholders from dilution and providing clarity on the subscription process.
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Primary Subscription. The Company is offering to each registered holder (each a “Shareholder”) of shares of Company common stock, no par value (“Shares”), other than BioTime, Inc. the opportunity to subscribe to and purchase their respective pro rata percentage (“Allocation”) of a total of 3,000,000 Shares (the “Primary Subscription Shares”) at a price of $1.10 per Share (the “Subscription Price”). A Shareholder’s Allocation shall be the total number of Primary Subscription Shares multiplied by the percentage determined by dividing (A) the total number of Shares owned of record by the Shareholder immediately before the Subscription Offer, by (B) the total number of Shares owned by all Shareholders other than BioTime in the aggregate immediately before the Subscription Offer. Subscriber Pro Rata Percentage Shares in Allocation ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ 66.6666666666667% 2,000,000
Primary Subscription. Subject to the terms and conditions of this agreement, on Completion the Issuer is hereby obligated to and must allot and issue, and the Investor is hereby obligated to and must subscribe (either directly or through its nominee) for, the Primary Subscription Shares for the Primary Subscription Amount.