Units; Capitalization. The Company shall have the authority to issue an unlimited number of Common Units and Convertible Preferred Units. Immediately following the IPO, the Company will issue Common Units to Maravai Co. in exchange for a contribution of the net proceeds received by Maravai Co. from the IPO (less any proceeds used to purchase Common Units from Holdings) to the Company, such that following the sale of Common Units by Holdings and the issuance of Common Units by the Company, the total number of Common Units held by Maravai Co. will equal the total number of outstanding shares of Class A Common Stock. The ownership by a Member of Common Units shall entitle such Member to allocations of Profits and Losses and other items and Distributions of cash and other property as set forth in Article IV hereof.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Maravai Lifesciences Holdings, Inc.), Limited Liability Company Agreement (Maravai Lifesciences Holdings, Inc.)