Bridge Securities definition

Bridge Securities. The shares of Bridge Preferred Stock, (b) ----------------- the shares of Common Stock and Mezzanine PreferredStock issued or issuable upon conversion of the Bridge Preferred Stock, and (c) any securities issued or issuable with respect to either (a) or (b) by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization.

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Bridge Securities means the Issuer's Senior Convertible Floating Rate Bridge Notes substantially in the form set forth in Exhibit A hereto.

Bridge Securities. Upon the closing of the PUBLIC OFFERING, the COMPANY shall deliver to each PURCHASER, BRIDGE EQUITY UNITS consisting of securities identical in form to the securities offered for sale in the PUBLIC OFFERING ("PRIMARY BRIDGE EQUITY UNITS"), except that the certificates for the PRIMARY BRIDGE EQUITY UNITS may bear restrictive legends. Each PURCHASER shall receive the number of PRIMARY BRIDGE EQUITY UNITS equal to the principal of such PURCHASER'S BRIDGE NOTE(S) divided by the public offering price of the securities comprising the PRIMARY BRIDGE EQUITY UNIT. The securities issued to PURCHASERS shall have the same CUSIP numbers as the corresponding securities in the PUBLIC OFFERING. If a PUBLIC OFFERING shall not have occurred prior to October 16, 2006, then on October 17, 2006 the COMPANY shall issue to the PURCHASER alternate BRIDGE EQUITY UNITS ("ALTERNATE BRIDGE EQUITY UNITS") consisting of that number of shares of common stock of the COMPANY as shall equal the principal amount of the BRIDGE NOTE(S) divided by $3.00 plus an equal number of non-callable warrants exercisable at $3.00 per share for a period of five years from such issuance, and which shall have a cashless exercise feature at any time after October 16, 2007 that the underlying shares of common stock are not covered by an effective registration statement with a current prospectus available. The number of ALTERNATE BRIDGE EQUITY UNITS shall be adjusted, pro rata, on account of any stock splits, reverse stock splits, stock dividends paid on common stock, etc. which occur after the date of issuance of the BRIDGE NOTE(S) and prior to the issuance of the ALTERNATE BRIDGE EQUITY UNITS. PRIMARY BRIDGE EQUITY UNITS and Alternate BRIDGE EQUITY UNITS are sometimes referred to herein as "BRIDGE EQUITY UNITS." The PURCHASERS shall have the right for a period of one year and one month from the issuance of the ALTERNATE BRIDGE EQUITY UNITS to exchange them for PRIMARY BRIDGE EQUITY Units of an equivalent worth issued in a public offering of the COMPANY such that the PURCHASERS will own the same securities as if the public offering had closed on or prior to the six month anniversary of the FIRST CLOSING.

Examples of Bridge Securities in a sentence

The Bridge Securities would be subordinated in right of payment to any New Debt, would have market coupon and fees, would allow for any interest due prior to maturity to be “paid in kind” (rather than paid in cash) at the election of the Company, would be prepayable, without any prepayment penalty or prepayment premium, on a pro rata basis at any time, and would otherwise be on market terms (determined such that fair value of the Bridge Securities as of the Effective Date is equal to par minus OID).
The Bridge Securities would have a final maturity date, in the case of a note, and a mandatory redemption date, in the case of preferred stock, on the 270th day after the Effective Date, would not require any mandatory interim cash distributions except as contemplated in (i) below, and would yield to the Company on the Closing Date cash proceeds (net of OID) of at least the proceeds from the GGP Backstop Rights Offering that such Bridge Securities are intended to replace.
The Bridge Notes and Bridge Shares are herein called the Bridge Securities.
Following the completion of the sale of Bridge Securities pursuant to this Financing Agreement, the Company intends to conduct a secondary public offering (the “Secondary Public Offering” or “SPO”) of its securities in the approximate amount of $8,000,000 with Newbridge Securities Corporation (“Newbridge”) as its managing underwriter.
Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance with Section 9(f) of the Bridge Securities Purchase Agreement.

More Definitions of Bridge Securities

Bridge Securities has the meaning set forth in the second recital of this Agreement.

Bridge Securities means the Series B Preferred Stock, the Senior Notes and the Warrants.

Bridge Securities has the meaning specified in the Purchase Agreement.

Bridge Securities has the meaning given it in the first recital of this Agreement.

Bridge Securities means the securities issued to investors as part of the Bridge Financing, including without limitation any warranties, options or rights to acquired additional securities of the Company or any of its affiliates.

Bridge Securities. Securities (other than Money Market Investments) which, when acquired, were expected by the General Partner to be redeemed, liquidated or otherwise disposed of within 12 months of the date of such acquisition.

Bridge Securities means the $25,000,000 of subordinated bridge notes issued by the Company on December 31, 1996.