The Rights Offering. Following the First Closing, the Company will commence a rights offering providing holders of record of the Common Stock on the day prior to the First Closing Date with the right to invest in Common Stock at the same price per share paid by the Purchasers and the Anchor Investors (the “Rights Offering” and together with the Equity Investment, the TARP Exchange and the Exchange Offers, the “Recapitalization”). The rights will be non-transferable and will provide for the purchase of a maximum of $20,000,000 worth of Common Stock by such existing stockholders.
The Rights Offering. (a) The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock shall receive one Stock Right for each share of Common Stock held of record at the close of business on August 15, 2016 (the “Record Date”). Holders of Rights (each a “Holder”) will be entitled to subscribe for and purchase, at the Subscription Price, one share of Common Stock for every Stock Right granted to Holders on the Record Date (the “Basic Subscription Right”); provided that, the Rights may only be exercised for a maximum of $100,000,000 of subscription proceeds.
The Rights Offering a) The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock and Participating Securities shall receive one Right for each share of Common Stock and each share of Common Stock underlying each of the Participating Securities held of record at the close of business on September 23, 2022 (the “Record Date”). Holders of Rights will be entitled to subscribe for and purchase, at the Subscription Price, one (1) Unit for each Right held (the “Basic Subscription Right”). Rights may only be exercised for whole Right Shares and Rights Warrants; no fractional securities will be issued in the Rights Offering.
The Rights Offering. ATLANTIC shall distribute as a dividend to each holder of record of ATLANTIC Common Shares, as of the close of business on the ATLANTIC Shareholders' Approval Record Date, rights to purchase ATLANTIC Common Shares entitling such holder to subscribe for and purchase ATLANTIC Common Shares during the period commencing on the date the ATLANTIC Prospectus is mailed to such holders and expiring on the close of business on the date of the Merger Closing (the "Rights Offering Expiration Date). The issuance of such rights and the issuance of ATLANTIC Common Shares upon exercise of such rights shall be registered under the ATLANTIC Registration Statement and ATLANTIC shall use its best efforts to cause the rights to be tradeable on the Exchange on which the ATLANTIC Common Shares are listed. Each holder of ATLANTIC Common Shares shall receive one (1) right for every one (1) ATLANTIC Common Share held of record by such holder as of the ATLANTIC Shareholders' Approval Record Date. The exercise price per ATLANTIC Common Share for such rights shall be equal to the amount determined by the ATLANTIC Board (or a duly authorized committee thereof); provided, that in the event that the Fair Market Value of an ATLANTIC Common Share is more than $25.8633, then the exercise price per ATLANTIC Common Share shall be $25.8633; and provided, further, that the exercise price per ATLANTIC Common Share shall in no event (other than as described in the preceding proviso) be less than 94% of the Fair Market Value of an ATLANTIC Common Share. ATLANTIC shall make available for issuance in the rights offering, up to a maximum number of ATLANTIC Common Shares equal to the difference between (X) the amount determined by dividing (A) the number of ATLANTIC Common Shares issuable pursuant to Section 2.1 by (B) the percentage of all outstanding ATLANTIC Common Shares owned by SCG on the ATLANTIC Shareholders' Approval Record Date (the amount determined pursuant to this clause (X) being the "Rights Offering Amount") and (Y) the number of ATLANTIC Common Shares issuable to SCG pursuant to Section 2.1. Each holder shall be entitled to acquire one (1) ATLANTIC Common Share by paying the Fair Market Value and surrendering that number of rights (rounded down to the nearest whole right) equal to the amount determined by dividing the aggregate number of ATLANTIC Common Shares outstanding on the ATLANTIC Shareholders' Approval Record Date by the Rights Offering Amount. SCG agrees that it shall not exer...
The Rights Offering. The Rights Offering will be conducted as follows:
The Rights Offering. (a) The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock shall receive one Right for every share of Common Stock held of record by such holder at the close of business on [January ___], 2018 (the “Record Date”). Holders of Rights (each a “Holder”) will be entitled to subscribe for and purchase, at the Subscription Price, one Unit for every Right granted to Holders on the Record Date (the “Basic Subscription Right”); provided that, the Rights may only be exercised for a maximum of $5,000,000 of subscription proceeds.
The Rights Offering. Following the Closing, the Company will commence a rights offering providing holders of record of the Common Stock as of the close of business on the Business Day immediately preceding the Closing Date with the right to purchase Common Stock at the same price per share paid by the Investor. The rights will be transferable and will provide for the purchase of up to $20,000,000 of Common Stock by such existing shareholders.
The Rights Offering. Following the Closing, the Company may commence a rights offering (the “Rights Offering”) providing holders of record of the Common Stock as of the close of business on a record date prior to the Closing to be selected by the Company with the right to purchase Common Stock at the same price per share as that paid by the Investor. The rights would not be transferable and would provide for the purchase of up to $2 million of Common Stock in the aggregate by such existing stockholders.
The Rights Offering. (a) The Company shall use its reasonable best efforts to commence and complete the Rights Offering as soon as reasonably practicable. The Company intends to file a Registration Statement on Form S-1 (the “Registration Statement”) for the Rights Offering with the U.S. Securities and Exchange Commission (the “SEC”) and intends to cause the Registration Statement to be declared effective by the SEC as soon as reasonably practicable.
The Rights Offering. The Company is contemplating commencing a rights offering on the following terms: (i) the Company shall distribute, at no charge to its stockholders, one Right to each holder of record of Common Stock for each share of Common Stock held by such holder as of the Record Date, (ii) each Right shall entitle the holder thereof to purchase, at the election of such holder, such number of shares of Common Stock at the Rights Subscription Price thereby entitling such holders of rights, in the aggregate, to subscribe for Common Stock worth an aggregate of up to $35.3 million, provided that no fractional shares of Common Stock shall be issued, (iii) each such Right shall be non-transferable, (iv) the rights offering shall remain open as set forth in the Registration Statement (the “Subscription Period”) and (v) each holder who fully exercises all Rights held by him shall be entitled to subscribe for additional shares of Common Stock that were not subscribed for in the Rights Offering (such exercising holders, the “Exercising Holders”), provided if an insufficient number of unsubscribed shares of Common Stock are available, all such over-subscription requests shall be honored proportionately among the Exercising Holders based on the number of shares of Common Stock each such holder subscribed for in accordance with clause (ii) (such rights offering, the “Rights Offering”). The Company hereby agrees to use commercially reasonable efforts to complete the Rights Offering as soon as reasonably practicable, subject to the terms and conditions set forth herein. Specifically, the Company hereby agrees, subject to the terms and conditions set forth herein, to use commercially reasonable efforts to complete its Registration Statement on Form S-1, as initially filed with the SEC on May 6, 2016 and as amended on August 22, 2016, and as may be subsequently amended from time to time (the “Registration Statement”), and use commercially reasonable efforts to cause such Registration Statement to be declared effective by the SEC as soon as reasonably practicable.
