Concurrent Private Placement. The Parties hereby agree that Company shall sell and allot to the Investor, and the Investor shall purchase from the Company, the Investment Securities in the amount of US$15 million pursuant to a transaction that shall close currently with the Company’s IPO and is exempted from the registration requirement of the Securities Act at a per share price equal to the Per Share IPO Price, and the Investment Securities shall be subject to a six-month lock up period at the request of the Underwriter (the “Concurrent Private Placement”).
Appears in 2 contracts
Sources: Convertible Promissory Note Purchase Agreement (500.com LTD), Convertible Promissory Note Purchase Agreement (500.com LTD)