Fully Diluted Equity definition
Examples of Fully Diluted Equity in a sentence
Immediately after the Effective Time, as a result of the issuance of the Merger Share Consideration, the Merger Option Consideration, the ▇▇▇▇▇ Shares and the Wesser Shares, Proman, ▇▇▇▇▇ and ▇▇▇▇▇▇ will own, in the aggregate, 50% of the Fully Diluted Equity of PDN.
Notwithstanding the above, if the Executive’s performance exceeds expectation, but does not reach the specified share price hurdle noted above, the Board will not unreasonably withhold the additional stock options grant to maintain her Fully Diluted Equity position at a minimum of 5%.
If the Company closes an offering of its equity securities at a price per share of the Company’s Preferred Stock of at least $3.50, and the Executive is actively employed by the Company on the date of such closing, the Company shall grant the Executive an additional stock option (“Second Additional Option”) to purchase Shares representing 1% of the Company’s Fully Diluted Equity, taking into account the securities issued in the applicable offering), after giving effect to such grant.
The shares underlying Option 4 are intended to represent a one percent (1.0%) ownership interest in the Company as of the date hereof (based on the number of shares of Fully Diluted Equity of the Company as of the date hereof, after giving effect to the issuance of Option 4).
On the Effective Date, Cytek shall issue to BD 1,565,698 shares of Common Stock (the “Shares”) which shall represent no less than [***] percent ([***]%) of Cytek’s Fully Diluted Equity (the “Initial Equity Grant”), calculated after taking into account any adjustments to the Conversion Price (as defined in the Charter) of any series of Preferred Stock (as defined in the Charter) in connection with the issuance of the Initial Equity Grant, pursuant to Article IV.B, Section 4 of the Charter.