Exhibit 1.2
Casimir Capital LP
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
SELECTED DEALERS AGREEMENT
Dear Sirs:
1. Registration under the Securities Act of 1933, as amended (the "Act"),
of the 13,000,000 Units* of Platinum Energy Resources, Inc. (the "Company"), as
more fully described in the Preliminary Prospectus, dated
_______________________, 2005, and in the final prospectus (the "Prospectus")
which will be forwarded to you, will become effective in the near future. We, as
the Underwriters, are offering certain of the Units for purchase by a selected
group of dealers (the "Selected Dealers") on the terms and conditions stated
herein.
* Plus the over-allotment option available to the Underwriters to purchase up to
an additional 1,950,000 Units.
Authorized Public Offering Price: $8.00 per Unit.
Dealers' Selling Concession: Not to exceed $0.___ per Unit
payable upon termination of this
Agreement, except as provided
below. We reserve the right not to
pay such concession on any of the
Units purchased by any of the
Selected Dealers from us and
repurchased by us at or below the
price stated above prior to such
termination.
Reallowance: You may reallow not in excess of
$0.___ per Unit as a selling
concession to dealers who are
members in good standing of the
National Association of Securities
Dealers, Inc. (the "NASD") or to
foreign dealers who are not
eligible for membership in the NASD
and who have agreed: (i) not to
sell the Units within the United
States of America, its territories
or possessions or to persons who
are citizens thereof or residents
therein; and (ii) to abide by the
applicable Conduct Rules of the
NASD.
Delivery and Payment: Delivery of the Units shall be made
on or about ____________, 2005 or
such later date as we may advise on
not less than one day's notice to
you, at the office of Casimir
Capital LP, 000 Xxxxx Xxxxxx, Xxx
Xxxx, Xxx Xxxx 00000 or at such
other place as we shall specify on
not less than one day's notice to
you. Payment for the Units is to be
made, against delivery, at the
authorized public offering price
stated above, or, if we shall so
advise you, at the authorized
public offering price less the
dealers' selling concession stated
above, by wire transfer or a
certified or official bank check in
New York Clearing House Funds
payable to the order of Casimir
Capital LP.
Termination: This Agreement shall terminate at
the close of business on the 45 th
day following the effective date of
the Registration Statement (of
which the enclosed Prospectus forms
a part), unless extended at our
discretion for a period or periods
not to exceed in the aggregate 30
additional days. We may terminate
this Agreement, whether or not
extended, at any time without
notice.
2. Any of the Units purchased by you hereunder are to be offered by you to
the public at the public offering price, except as herein otherwise provided and
except that a reallowance from such public offering price not in excess of the
amount set forth on the first page of this Agreement may be allowed as
consideration for services rendered in distribution to dealers that: (a) are
actually engaged in the investment banking or securities business; (b) execute
the written agreement prescribed by Rule 2740 of the NASD Conduct Rules; and (c)
are either members in good standing of the NASD or foreign banks, dealers or
institutions not eligible for membership in the NASD that represent to you that
they will promptly reoffer such Units at the public offering price and will
abide by the conditions with respect to foreign banks, dealers and institutions
set forth in paragraph 9 below.
3. You, by becoming a member of the Selected Dealers, agree: (a) upon
effectiveness of the Registration Statement and your receipt of the Prospectus,
to take up and pay for the number of Units allotted and confirmed to you, (b)
not to use any of the Units to reduce or cover any short position you may have
and (c) to make available a copy of the Prospectus to all persons who on your
behalf will solicit orders for the Units prior to the making of such
solicitations by such persons. You are not authorized to give any information or
to make any representations other than those contained in the Prospectus or any
supplements or amendments thereto.
4. As contemplated by Rule 15c2-8 under the Securities Exchange Act of
1934, as amended, we agree to mail a copy of the Prospectus to any person making
a written request therefor during the period referred to in the rules and
regulations adopted under such Act, the mailing to be made to the address given
in the request. You confirm that you have delivered all preliminary prospectuses
and revised preliminary prospectuses, if any, required to be delivered under the
provisions of Rule 15c2-8 and agree to deliver all copies of the Prospectus
required to be delivered thereunder. We have heretofore delivered to you such
preliminary prospectuses as have been required by you, receipt of which is
hereby acknowledged, and will deliver such further prospectuses as may be
requested by you.
5. You agree that until termination of this Agreement you will not make
purchases or sales of the Units except: (a) pursuant to this Agreement; (b)
pursuant to authorization received from us; or (c) in the ordinary course of
business as broker or agent for a customer pursuant to any unsolicited order.
6. Additional copies of the Prospectus and any supplements or amendments
thereto shall be supplied in reasonable quantity upon request.
7. The Units are offered by us for delivery when, as and if sold to, and
accepted by, us and subject to the terms herein and in the Prospectus or any
supplements or amendments thereto, to our right to vary the concessions and
terms of offering after their release for public sale, to approval of counsel as
to legal matters and to withdrawal, cancellation or modification of the offer
without notice.
8. Upon written application to us, you shall be informed as to the
jurisdictions under the securities or blue sky laws of which we believe the
Units are eligible for sale, but we assume no responsibility as to such
eligibility or the right of any member of the Selected Dealers to sell any of
the Units in any jurisdiction. We acknowledge that you have advised us that
sales of the Company's securities cannot be made from the state of New Jersey.
You represent to us that all sales by you of the Company's securities will be
made by your offices outside the state of New Jersey. We have caused to be filed
a Further State Notice relating to such of the Units to be offered to the public
in New York in the form required by, and pursuant to, the provisions of Article
23A of the General Business Law of the State of New York. Upon the completion of
the public offering contemplated herein, each member of the Selected Dealers
agrees to promptly furnish to us, upon our request, territorial distribution
reports setting forth each jurisdiction in which sales of the Units were made by
such member, the number of Units sold in such jurisdiction, and any further
information as we may request, in order to permit us to file on a timely basis
any report that we as the Underwriters of the offering or manager of the
Selected Dealers may be required to file pursuant to the securities or blue sky
laws of any jurisdiction.
9. You, by becoming a member of the Selected Dealers, represent that you
are actually engaged in the investment banking or securities business and that
you are: (a) a member in good standing of the NASD and will comply with NASD
Conduct Rule 2740; or (b) a foreign dealer or institution that is not eligible
for membership in the NASD and that has agreed (i) not to sell Units within the
United States of America, its territories or possessions or to persons who are
citizens thereof or residents therein, (ii) that any and all sales shall be in
compliance with Rule 2110-01 of the NASD's Conduct Rules, (iii) to comply, as
though it were a member of the NASD, with Rules 2730, 2740 and 2750 of the
NASD's Conduct Rules, and to comply with Rule 2420 thereof as that Rule applies
to a non-member broker or dealer in a foreign country.
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10. Nothing herein shall constitute any members of the Selected Dealers'
partners with us or with each other, but you agree, notwithstanding any prior
settlement of accounts or termination of this Agreement, to bear your proper
proportion of any tax or other liability based upon the claim that the Selected
Dealers constitute a partnership, association, unincorporated business or other
separate entity and a like share of any expenses of resisting any such claim.
11. Casimir Capital LP shall be the Managing Underwriter of the offering
and manager of the Selected Dealers and shall have full authority to take such
action as we may deem advisable in respect of all matters pertaining to the
offering or the Selected Dealers or any members of them. Except as expressly
stated herein, or as may arise under the Act, we shall be under no liability to
any member of the Selected Dealers as such for, or in respect of: (i) the
validity or value of the Units; (ii) the form of, or the statements contained
in, the Prospectus, the Registration Statement of which the Prospectus forms a
part, any supplements or amendments to the Prospectus or such Registration
Statement, any preliminary prospectus, any instruments executed by, or obtained
or any supplemental sales data or other letters from, the Company, or others;
(iii) the form or validity of the Underwriting Agreement or this Agreement; (iv)
the eligibility of any of the Units for sale under the laws of any jurisdiction;
(v) the delivery of the Units; (vi) the performance by the Company, or others of
any agreement on its or their part; or (vii) any matter in connection with any
of the foregoing, except our own want of good faith.
12. If for federal income tax purposes the Selected Dealers, among
themselves or with the Underwriters, should be deemed to constitute a
partnership, then we elect to be excluded from the application of Subchapter K,
Chapter 1, Subtitle A of the Internal Revenue Code of 1986, as amended, and we
agree not to take any position inconsistent with such selection. We authorize
you, in your discretion, to execute and file on our behalf such evidence of such
election as may be required by the Internal Revenue Service.
13. All communications from you shall be addressed to Casimir Capital LP
at 000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Xxxxxxx Xxxxx, CEO.
Any notice from us to you shall be deemed to have been fully authorized by the
Underwriters and to have been duly given if mailed, telegraphed or sent by
confirmed facsimile transmittal to you at the address to which this letter is
mailed. This Agreement shall be construed in accordance with the laws of the
State of New York without giving effect to conflict of laws. Time is of the
essence in this Agreement.
If you desire to become a member of the Selected Dealers, please advise us
to that effect immediately by facsimile transmission and sign and return to us
the enclosed counterpart of this letter.
Very truly yours,
CASIMIR CAPITAL LP
By: Xxxxxxx Xxxxx
-----------------------
Chief Executive Officer
We accept membership in the Selected Dealers on the terms specified above.
Dated: ____________________________, 2005
(Selected Dealer)
By:
Name:
Title:
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