Qualified Financing Round definition

Qualified Financing Round means an equity financing of the Company during the Term which results in gross proceeds of not less than $2,000,000. The Company currently contemplates the next Qualified Financing Round to be offered to prospective investors at $0.50 per share of common stock, based on the Company’s capitalization on the date hereof. In the event that Company’s Option as described herein is exercised, interest on the Bridge Loan shall not accrue (and any accrued interest shall be deemed null and void ab initio) and the warrant contemplated to be issued to Lender shall be deemed cancelled.
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Qualified Financing Round has the meaning set forth in Section 8.3(a).
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Qualified Financing Round means an equity financing of the Company occurring after the Principal Amount has been fully received by the Company at a pre-money valuation of the Company of at least US$xxx million and with total proceeds to the Company equal to at least US$xxx million for a primary issuance of shares of the Company, excluding amounts received pursuant to this Note and any other then outstanding convertible notes (unless a lesser amount is agreed by the Company).
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Examples of Qualified Financing Round in a sentence

  • Lender will also receive a warrant to purchase up to twenty percent (20%) of the value of the principal amount of the Bridge Loan at an exercise price equivalent to the per share price of the next Qualified Financing Round (as hereinafter defined).

  • Each time the Company proposes to offer any equity securities at any time prior to and including the closing of a Qualified Financing Round or a Non-Qualified Financing Round (any such offering referred to as a “Financing”) the Company shall provide the Major Investor with at least ten (10) business days prior written notice of such offering, including the price and terms thereof.

  • The term of this Agreement shall be December 31, 2011 (the “Term”), except if the Company closes on a Qualified Financing Round (defined herein) prior to the end of the Term, this Agreement will terminate and the Company shall convert the Bridge Loan into equity of the Company in accordance with Section 7 of this Agreement.

  • Conversion Price ● On a Qualified Financing Round - a price per share paid equal to the price paid per share pursuant to the Qualifying Round discounted by 20%.

  • Conversion Events The ASA will convert into shares if any of the following occurs: ● Qualified Financing Round- means a raise of at least £200,000 which amount can be raised in one or more fundraises before the Longstop Date.

  • The Company currently contemplates the next Qualified Financing Round to be offered to prospective investors at $0.50 per share of common stock, based on the Company’s capitalization on the date hereof.

  • The parties acknowledge that the Company will be entering into the next Qualified Financing Round at which time the Holder shall convert the principal amount into shares of the Company’s equity securities upon the terms and conditions set forth in the Agreement.

  • Promptly upon completion of any Qualified Financing Round, the Borrower shall notify the Lender (whereby by e-mail is sufficient) of the applicable Borrower Conversion Price.


More Definitions of Qualified Financing Round

Qualified Financing Round. ) means an equity investment (one or more successive investments within a period of six (6) months) by one or more investors not yet invested in the Company, in the course of which at least [EUR 1,000,000.00] is invested in the Company. This equity investment must be concluded before [●].2
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Related to Qualified Financing Round

  • Qualified Financing is a transaction or series of transactions pursuant to which the Company issues and sells shares of its capital stock for aggregate gross proceeds of at least $5,000,000 (excluding all proceeds from the incurrence of indebtedness that is converted into such capital stock, or otherwise cancelled in consideration for the issuance of such capital stock) with the principal purpose of raising capital.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • New Financing means the Indebtedness incurred or to be incurred by Holdings and its Subsidiaries under the Credit Documents (assuming the full utilization of the Revolving Commitments) and all other financings contemplated by the Credit Documents, in each case after giving effect to the Transaction and the incurrence of all financings in connection therewith.

  • Equity Financing means the next sale (or series of related sales) by the Company of its Equity Securities to one or more third parties following the date of this instrument from which the Company receives gross proceeds of not less than $1,000,000 cash or cash equivalent (excluding the conversion of any instruments convertible into or exercisable or exchangeable for Capital Stock, such as SAFEs or convertible promissory notes) with the principal purpose of raising capital.

  • 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 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale or series of related sales).