Interesting risk called out. So Oasis will not be
Post# of 36537
(Total Views: 289)
Posted On: 05/20/2021 3:02:59 PM
Interesting risk called out. So Oasis will not be able to sell till 18 months.. ( I dont think OTC qualifies as national exchange right?). Any thoughts?
The sale or issuance of our Class A Common Stock to Oasis may cause dilution and the sale of the shares of Class A Common Stock acquired by Oasis, or the perception that such sales may occur, could cause the price of our Common Stock to fall.
On July 14, 2020, we entered into a purchase agreement (the “Oasis Purchase Agreement”) with Oasis Capital, LLC (“Oasis”), pursuant to which Oasis has committed to purchase up to $50,000,000 of our Class A Common Stock, subject to certain conditions, such as the Class A Common stock being listed on a national exchange.
If the Class A Common Stock is ever listed on a national exchange, the purchase price for the shares that we may sell to Oasis under the Oasis Purchase Agreement will fluctuate based on the market price and trading volume of our Class A Common Stock. Depending on market liquidity at the time, sales of such shares may cause the market price of our Class B Common Stock to fall.
Sales of our Class A Common Stock, if any, to Oasis will depend upon market conditions and other factors to be determined by us. As such, Oasis may ultimately purchase all, some or none of the shares of our Class A Common Stock that may be sold pursuant to the Oasis Purchase Agreement and, after it has acquired shares, Oasis may sell all, some or none of those shares. Therefore, sales to Oasis by us could result in substantial dilution to the interests of other holders of our Common Stock. Additionally, the sale of a substantial number of shares of our Class A Common Stock to Oasis, or the anticipation of such sales, could make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect sales.
The sale or issuance of our Class A Common Stock to Oasis may cause dilution and the sale of the shares of Class A Common Stock acquired by Oasis, or the perception that such sales may occur, could cause the price of our Common Stock to fall.
On July 14, 2020, we entered into a purchase agreement (the “Oasis Purchase Agreement”) with Oasis Capital, LLC (“Oasis”), pursuant to which Oasis has committed to purchase up to $50,000,000 of our Class A Common Stock, subject to certain conditions, such as the Class A Common stock being listed on a national exchange.
If the Class A Common Stock is ever listed on a national exchange, the purchase price for the shares that we may sell to Oasis under the Oasis Purchase Agreement will fluctuate based on the market price and trading volume of our Class A Common Stock. Depending on market liquidity at the time, sales of such shares may cause the market price of our Class B Common Stock to fall.
Sales of our Class A Common Stock, if any, to Oasis will depend upon market conditions and other factors to be determined by us. As such, Oasis may ultimately purchase all, some or none of the shares of our Class A Common Stock that may be sold pursuant to the Oasis Purchase Agreement and, after it has acquired shares, Oasis may sell all, some or none of those shares. Therefore, sales to Oasis by us could result in substantial dilution to the interests of other holders of our Common Stock. Additionally, the sale of a substantial number of shares of our Class A Common Stock to Oasis, or the anticipation of such sales, could make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect sales.
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