Qualified Equity Financing means an equity financing pursuant to which the Company issues and sells shares of its equity securities to investors in an arm’s-length transaction for the principal purpose of raising capital and resulting in aggregate gross proceeds to the Company of not less than $35,000,000.

Qualified Equity Financing means any offer, sale and issuance, in a bona fide equity financing transaction, of capital stock (including Common Stock or Preferred Stock) of the Company whether now authorized or not, or rights, convertible securities, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become, exercisable or convertible into capital stock, in which the price per share of the securities offered in the financing (calculated based on the effective price per share of the Common Stock issuable upon conversion or exercise of any securities other than Common Stock) is at least three (3) times the Purchase Price.

Examples of Qualified Equity Financing in a sentence

Except for the authorization and issuance of the Conversion Shares issuable in connection with a Qualified Equity Financing or a Corporate Transaction, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Crowd Note.
If the Investor is a Major Investor, the Company will convert the Crowd Note into Conversion Shares prior to the closing of the Qualified Equity Financing.
The issuance of Conversion Shares pursuant to the conversion of this Crowd Note shall be upon and subject to the same terms and conditions applicable to the stock sold in the Qualified Equity Financing; provided, however, that if the Investor is not a Major Investor, the Investor shall receive shares of a Shadow Series with certain limited rights.
The Investor agrees to execute all such agreements in connection with the conversion so long as the issuance of Conversion Shares issued pursuant to the conversion of this Crowd Note are subject to the same terms and conditions applicable to the Preferred Stock sold in the Qualified Equity Financing (or the Shadow Series).7.
If the Corporate Transaction occurs after a Qualified Equity Financing the Company shall convert this Crowd Note into Conversion Shares pursuant to Section 2 (a).

More Definitions of Qualified Equity Financing

Qualified Equity Financing means the offer and sale for cash by Borrower of any of its equity securities with the principal purpose of raising capital that (i) results in aggregate gross proceeds to Borrower of at least $5,000,000 (excluding any portion of the Principal Amount of any of the Notes that shall be converted into Borrower equity securities pursuant to Section 6 of this Note, or any other convertible debt issued by the Company that are exchanged for equity securities of the Company in such financing); and (ii) is priced at a minimum per share price of $0.27.

Qualified Equity Financing means the Company’s sale of equity securities in one transaction or a series of related transactions to venture capital, institutional or private investors in which at least Twenty Million and No/100 Dollars ($20,000,000.00) in gross cash proceeds is received by the Company (excluding conversion of Notes issued pursuant to the Purchase Agreement).

Qualified Equity Financing means the date on which the Company consummates an equity financing pursuant to which it sells shares of its preferred stock with an aggregate sales price of not less than $10,000,000 including any and all convertible promissory notes which are converted into such preferred stock (including the Bridge Notes), and with the principal purpose of raising capital.

Qualified Equity Financing means an equity financing pursuant to which the Company sells, with the principal purpose of raising capital, a new class of preferred stock (the “Preferred Securities”) with an aggregate sales price of not less than $3,000,000, including the principal and accrued but unpaid interest of any Notes which are converted into such Preferred Securities.

Qualified Equity Financing means an equity financing after the date hereof which results in aggregate gross proceeds to the Company of at least Ten Million Dollars ($10,000,000), excluding the conversion of the Notes, and in which investors purchase shares of a newly authorized series of the Company’s Preferred Stock and in which the Notes are converted into Shares.

Qualified Equity Financing means the first sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000.00 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale (or series of related sales). Conversion Mechanics. Company shall convert the Crowd Notes into Conversion Shares equal to the quotient obtained by dividing the Outstanding Principal by the Conversion Price. The issuance of Conversion Shares pursuant to the conversion of the Crowd Notes shall be upon and subject to the same terms and conditions applicable to the stock sold in the Qualified Equity Financing; provided, however, that if the investor is not a Major Investor, the investor shall receive shares of a Shadow Series with certain limited rights.

Qualified Equity Financing means any equity financing of the Company subsequent to March 2, 2001 with gross proceeds in excess of $10,000,000 less the aggregate stated liquidation value of all of the then outstanding shares of Series C Preferred Stock.