Founder Shares definition
Examples of Founder Shares in a sentence
No underwriting discounts, commissions, or placement fees have been or will be payable in connection with the purchase of Founder Shares.
The holders of the Founder Shares shall not have redemption rights with respect to the Founder Shares.
Transferee understands that the Transferred Founder Shares have not been registered under the Securities Act, nor registered under any state’s securities laws, and that the Transferred Founder Shares must be held indefinitely unless a subsequent disposition thereof either is registered under the Securities Act and applicable state securities laws, or is exempt from such registration.
The holders of Founder Shares shall have no right to any liquidating distributions with respect to any portion of the Founder Shares in the event the Company fails to consummate a Business Combination.
On the date hereof or any other date as may be agreed upon by the parties hereto, Transferor hereby sells the Transferred Founder Shares to Transferee, and Transferee hereby purchases the Transferred Founder Shares from Transferor at nil consideration.