Share Allocation. Section 3 of the Agreement is hereby amended to provide that Creditor shall receive the number of membership units of ScanTech required to convert at the Conversion Ratio (as defined in the Business Combination Agreement, as amended) into 743,920 shares of Pubco Common Stock at the Closing of the Company Merger (the “Conversion Shares”), based on the value of the Pubco Common Stock at the present Conversion Ratio of $9.87.
Appears in 1 contract
Sources: Creditor Conversion Agreement (ScanTech AI Systems Inc.)
Share Allocation. Section 3 of the Agreement is hereby amended to provide that Creditor shall receive the number of membership units of ScanTech required to convert at the Conversion Ratio (as defined in the Business Combination Agreement, as amended) into 743,920 745,444 shares of Pubco Common Stock at the Closing of the Company Merger (the “Conversion Shares”), based on the value of the Pubco Common Stock at the present Conversion Ratio of $9.87.
Appears in 1 contract
Sources: Creditor Conversion Agreement (ScanTech AI Systems Inc.)
Share Allocation. Section 3 of the Agreement is hereby amended to provide that Creditor shall receive the number of membership units of ScanTech required to convert at the Conversion Ratio (as defined in the Business Combination Agreement, as amended) into 743,920 [ ] shares of Pubco Common Stock at the Closing of the Company Merger (the “Conversion Shares”), representing a return of approximately One Hundred Twenty-five percent (125.00%) of Creditor's original investment based on the value of the Pubco Common Stock at the present Conversion Ratio of $9.87.
Appears in 1 contract
Sources: Creditor Conversion Agreement (ScanTech AI Systems Inc.)