Examples of Series B-1 Preferred Stock in a sentence
Following the Closing, the Company shall be entitled to invest up to $1,000,000 of the Transaction Proceeds through the purchase of shares of Series B-2 Preferred Stock of LipimetiX at a pre-money valuation of $12,750,000 (or $10.70 per share), which is the same per share purchase price paid by purchasers of shares of Series B-1 Preferred Stock in 2016 (the “LipimetiX Investment”).
The Series C-1 Preferred Stock rank pari passu with the shares of Series A Preferred Stock, Series A-1 Preferred Stock, Series B Preferred Stock, Series B-1 Preferred Stock and Series C Preferred stock (collectively with the Series C-1 Preferred Stock, the “Preferred Stock”) and senior to the Common Stock of the Company (“Common Stock”) with respect to dividends and payment upon Liquidation Events (as defined in the Company’s Sixth Amended and Restated Certificate of Incorporation).
The Company now desires to sell to the Purchaser, and the Purchaser desires to purchase from the Company, shares of the Company’s Series B-2 Preferred Stock, par value $0.00001 per share (the “Series B-2 Preferred Stock” or collectively with the Series B-1 Preferred Stock, the “Series B Preferred Stock”), on the terms and subject to the conditions set forth in this Agreement.
All shares of Company Series B-1 Preferred Stock, when so converted will be automatically cancelled and extinguished and shall cease to exist, and each holder of a share of Company Series B-1 Preferred Stock immediately prior to the Effective Time shall cease to have any rights with respect thereto, except the rights, in each case subject to the terms and conditions of this Agreement and the Escrow Agreement, to receive the Series B-1 Preferred Consideration.
Exhibit D Series B-1 Preferred Stock Purchase Agreement *** INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED.