Underwritten Demand Registrations. If the initiating Apeiron Holder(s) intend to distribute the Registrable Securities covered by its request by means of an underwritten public offering, they shall so advise the Company as a part of their Demand Request; provided the Company shall not be obligated to effectuate any Demand Registration (including a Block Trade) on an underwritten basis unless such offering is reasonably expected to result in aggregate gross cash proceeds (without regard to any underwriting discount or commission) in excess of $25 million.
Appears in 2 contracts
Sources: Registration Rights Agreement (ATAI Life Sciences N.V.), Registration Rights Agreement (ATAI Life Sciences N.V.)