Conversion Agreement. Lender subscribes to purchase, and Borrower promises to issue, 67,340 shares of Borrower's common stock, par value $0.01 per share (the "Shares"), for a purchase price of $14.85 per share or $999,999 in the aggregate. The purchase price is payable by conversion of $999,999 of the Bridge Loan principal into capital of Borrower and Lender instructs Borrower to convert such principal into capital upon issuance and delivery of the Shares to Lender. In connection with the purchase of the Shares, Lender represents and acknowledges as follows:
Appears in 2 contracts
Sources: Bridge Loan Conversion and Extension Agreement (Rockford Corp), Bridge Loan Conversion and Extension Agreement (Rockford Corp)