Examples of Company SAFE in a sentence
For each Company SAFE outstanding prior to the Effective Time that is converted into shares of Company Stock in accordance with the applicable Company SAFE, such conversion is referred to herein as a “SAFE Conversion”.
Except for this Agreement, Company Restricted Stock and the Company SAFE prior to its conversion into Company Capital Stock, there are no outstanding subscriptions, options, warrants, calls, commitments or agreements of any character calling for the purchase or issuance of any security of the Company to which the Company is a party, including any securities representing the right to purchase or otherwise receive any shares of Company Capital Stock.
Except for the Company SAFE, there is no Indebtedness with voting rights (or convertible into, or exchangeable for, securities with voting rights) with respect to any matters on which any equity holder of the Company may vote.
Each Company SAFE that is outstanding immediately prior to the Effective Time shall be cancelled and extinguished, and each holder thereof shall cease to have any rights with respect thereto except for the right for such holder to receive its Pro Rata Share of the Purchase Price (as adjusted pursuant to the terms of this Agreement), in each case without interest.
Subject to the terms and conditions of this Agreement, at the Effective Time, by virtue of the Merger and without any further action on the part of any Company SAFE Investor, all of the SAFE Investment shall be converted into validly issued, fully paid and nonassessable shares of common stock, par value $0.001 per share, of the Parent at a conversion price of $2.27 per share.