Maximum Ownership. Immediately following the purchase of Units pursuant to this Agreement, such Purchaser will not beneficially own, directly or indirectly, shares of Common Stock, including shares of Common Stock issuable upon exercise or conversion of the Warrants and any other Common Stock Equivalents, in an amount in excess of 19.9% of the total number of shares of Common Stock or voting power outstanding immediately prior to the issuance of the Securities in this offering.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Macrochem Corp), Securities Purchase Agreement (Macrochem Corp)