Examples of Qualified Private Offering in a sentence
In the event that prior to the consummation of or in connection with a Qualified Private Offering, the Corporation shall issue or sell any Additional Shares of Common Stock, other than Permitted Issuances, for a consideration per Additional Share of Common Stock less than the applicable Conversion Price, then the applicable Conversion Price shall be reduced to the consideration per Additional Share of Common Stock paid for such Additional Shares of Common Stock.
The "CONVERSION PRICE" shall be (subject ---------------- to anti-dilution adjustments as provided in this Note ) the lesser of (i) $0.75, and (ii) fifty (50%) percent of the effective per share sale price of the Common Stock (the conversion price and/or exercise price if Common Stock is not sold directly) in any Qualified Private Offering; provided, -------- however, that Conversion Price shall not be less than the $0.30 per ------- share.(subject to anti-dilution adjustments provided in this Note).
If the Company completes a private offering of its equity securities in which (i) the Company receives gross proceeds of no less than three million ($3,000,000) dollars from the sale of such equity securities, and (ii) the effective purchase price of the Common Stock sold (the conversion price and/or exercise price if Common Stock is not sold directly) in the Qualified Private Offering is $1.50 (subject to stock splits or other events) or more per share of Common stock (a "QUALIFIED PRIVATE OFFERING").
The term "Qualified Private Offering" shall mean a private offering of the Corporation's securities raising gross proceeds of at least $20,000,000 where the pre-money valuation is at least 2.5 times the post-private placement valuation of the Corporation and where the offering price per share is at least 2.5 times the then Conversion Price.
Each Preferred Share shall automatically be converted into fully paid Ordinary Shares of the Company on the basis set forth in Article 7(5)(a) immediately upon the consummation of (i) a Qualified IPO or (ii) a Qualified Private Offering.
The transaction contemplated by this Agreement constitutes a Qualified Private Offering in accordance with the terms of the Current Certificate and the Second Amended and Restated Stockholders' Agreement and the QPO Determination (as defined in Section 12.15(a)) shall be in full force and effect.
A “QPO Conversion Period” means the period from and after the consummation of a Qualified Private Offering.
At the time of conversion of any Series B Preferred Shares upon a Qualified IPO pursuant to Article 7(5)(g) or in the event of a Qualified Private Offering, the Series B Cumulative Annual Dividend Amount shall not be payable by the Company and shall be deemed forfeited as of the effective date of such event.
Rent shall by payable in monthly payments in advance on the Ninth (9th) day of each and every month beginning with the payment due on January 5, 2000 and continuing monthly thereafter on the 9th day of each and every month until the entire rental payment agreed to be paid hereunder for the lease term has been made.
Notwithstanding any other provision herein, the right of the holders of Preferred Shares to request an Optional Redemption shall terminate upon a Qualified IPO or a Qualified Private Offering.