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Posted On: 02/18/2023 4:02:04 PM
Post# of 22465
Nice work.
I read it as if the second closing was the trigger for adding directors.
"At the second closing, Pasaca will purchase common stock of the Company (“Common Stock”) in an amount such that, after such purchase and the conversion of the Senior Note into the Note Shares, Pasaca will own fifty-one percent (51.0%) of the fully diluted common stock of the Company. The purchase price for the Common Stock to be sold in the second closing is $10,500,000. Pasaca will also have the right to appoint three members to the Company’s Board of Directors . Both the first and second closing are subject to numerous contingencies, as set forth in the Purchase Agreement. "
At the second closing, ........ Pasaca will also have the right to appoint three members to the Company’s Board of Directors
I read it as if the second closing was the trigger for adding directors.
"At the second closing, Pasaca will purchase common stock of the Company (“Common Stock”) in an amount such that, after such purchase and the conversion of the Senior Note into the Note Shares, Pasaca will own fifty-one percent (51.0%) of the fully diluted common stock of the Company. The purchase price for the Common Stock to be sold in the second closing is $10,500,000. Pasaca will also have the right to appoint three members to the Company’s Board of Directors . Both the first and second closing are subject to numerous contingencies, as set forth in the Purchase Agreement. "
At the second closing, ........ Pasaca will also have the right to appoint three members to the Company’s Board of Directors
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