AMENDMENT NO. 5 TO THE NOTE AND EQUITY PURCHASE AGREEMENT AmongNote and Equity Purchase Agreement • July 11th, 2002 • Igi Inc • Biological products, (no disgnostic substances) • Maryland
EXERCISE AGREEMENT ------------------ To: IGI, Inc. Dated: June 25, 2002 The undersigned, pursuant to the provisions set forth in the attached Warrant (Certificate No. W-l), hereby agrees to subscribe for the purchase of 1,907,543 shares of the Common...Exercise Agreement • July 11th, 2002 • Igi Inc • Biological products, (no disgnostic substances)
The undersigned, pursuant to the provisions set forth in the attached Warrant (Certificate No. W-l), hereby agrees to subscribe for the purchase of 1,907,543 shares of the Common Stock covered by such Warrant and makes payment herewith in full therefor at the price per share provided by such Warrant.
June 25, 2002Igi Inc • July 11th, 2002 • Biological products, (no disgnostic substances)
This letter shall serve as a "Purchaser Notice" as defined in Section 9.1 of that certain Note and Equity Purchase Agreement dated as of October 29, 1999, as amended to date (the "Note Agreement"), by and among IGI, Inc. (the "Company"), its subsidiaries and American Capital Strategies, Ltd. ("ACAS"), and certain of its affiliates. Capitalized terms used herein that are not defined herein shall have the same meaning as in the Note Agreement. As of this date, ACAS is exercising its rights under that certain Warrant No. W-1 dated as of October 29, 1999, and is purchasing 1,878,640 shares of the Company's Common Stock, $0.01 par value (the "Shares").
June 25, 2002Igi Inc • July 11th, 2002 • Biological products, (no disgnostic substances)
Please note that simultaneously with delivery of this letter, we are delivering a Purchaser Notice under the Note and Equity Purchase Agreement dated as of October 29, 1999 by and among the Company, IGI, and certain of their respective affiliates (the "Note Agreement"). The certificate for the Shares should be issued to "American Capital Strategies, Ltd." unless the Company exercises its right to purchase the Shares in accordance with the Purchaser Notice and Section 9 of the Note Agreement.
