Conversion upon Qualified Financing. Upon a closing (the “Closing”) of a Qualified Financing, all of the principal and accrued interest then outstanding on the Note automatically shall be converted into Instruments at the Closing of the Qualified Financing. The price per investment instrument for the conversion shall be an amount equal to ninety-five percent (95%) of the price per share of the Instruments sold in the Qualified Financing (the “Conversion Price upon Qualified Financing”).
Appears in 3 contracts
Sources: Convertible Note Purchase Agreement (Puredepth, Inc.), Convertible Note Purchase Agreement and Security Agreement (Puredepth, Inc.), Convertible Note Purchase Agreement and Security Agreement (Puredepth, Inc.)