Minimum Public Float definition

Minimum Public Float means the circumstances existing when (i) the consummation of one or more public offerings registered pursuant to the Securities Act of shares of Common Stock if, upon such consummation, the aggregate number of shares of Common Stock held by the public, not including Affiliates of the Company, represents at least 20% of the total number of outstanding shares of Common Stock at the time of such public offering and (ii) the Common Stock is listed on an Exchange.
View Source
Minimum Public Float. Nonvoting Securities;" "Observer;" "Offered Securities;" "Options;" "Original Founder Shareholders;" "Permitted Transfer;" "Preemptive Offer;" "Preemptive Offer Acceptance Notice;" "Preemptive Offer Period;" "Proportionate Percentage;" "Refused Securities;" "Registration Rights Agreement;" "Regulated Holder;" "Regulatory Problem;" "Requisite Founder Shareholders;" "Sale Notice;" "Significant Shareholder;" "Tag Along Notice;" "Tansferring Shareholder;" "Valuation Procedure;" and "Warrant Agreement." Each of the following definitions in Section 1.1 is hereby deleted in its entirety and is substituted therefor with the following:
View Source
Minimum Public Float means, on any date of determination, that: (a) for at least 20 Trading Days (whether or not consecutive) in the period of 30 consecutive Trading Days ending on the last Trading Day of such period, the aggregate market value of the outstanding Common Stock (or, if issued, the IPO Common Stock) issued to the public that are available for investors to trade (i.e., not held by persons that are affiliates of the Issuer (pursuant to Rule 144 under the Securities Act) or otherwise subject to a legal or contractual restriction on sale) (the “Public Shares”), is at least $150,000,000 (calculated by multiplying (x) the Last Reported Sale Price by (y) the number Public Shares outstanding on such date) and (b) the Common Stock is listed on a nationally recognized securities exchange in the United States.
View Source

Examples of Minimum Public Float in a sentence

  • Notwithstanding anything to the contrary, the provisions of Section 7.1 shall not be applicable if the Common Stock is publicly traded on an Exchange and there exists a Minimum Public Float.

  • In addition to the provisions of Section 7.2, the provisions of Section 7.1 shall not be applicable if (x) the Common Stock becomes publicly traded and there exists a Minimum Public Float, (y) the Purchaser ceases to own Shares or Rights or (z) the sale by the Sponsor involves less than all or substantially all of the Common Stock owned by the Sponsor at the time of sale.

  • Rights Notwithstanding anything to the contrary, the provisions of Section 7.1 shall not be applicable if the Common Stock is publicly traded on an Exchange and there exists a Minimum Public Float.

  • If the public float of H Shares fails to meet the requirement of the Minimum Public Float after the completion of the Issuance, the Bank will not proceed with the Issuance.

  • The Bank expects that the public float of H Shares will still meet the requirement of the Minimum Public Float as adjusted by the waiver granted by the Hong Kong Stock Exchange after the completion of the Issuance.

  • The Company has agreed, in the Preferred Shares Subscription Agreement, to increase the Public Float Percentage to a level such that upon full conversion of the Preferred Shares into Shares, the Public Float Percentage will not be less than the Minimum Public Float Percentage, as soon as possible and before the date falling 90 days from the date of completion of the proposed issue of Preferred Shares, or such later date as CT Bright consents to.

  • In addition to the provisions of Section 7.2, the provisions of Section 7.1 shall not be applicable if (x) the Common Stock becomes publicly traded and there exists a Minimum Public Float, (y) the Purchaser ceases to own Shares or (z) the sale by the Sponsor involves less than all or substantially all of the Common Stock owned by the Sponsor and its affiliates at the time of sale.

  • The Trustee-Manager and the Company shall forthwith notify the Joint Global Coordinators in writing if they become aware that the Minimum Public Float is or may be breached on the Listing Date.

Related to Minimum Public Float

  • Public Float means the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a “control person”), or any affiliates thereof, or any immediate family members of officers, directors and control persons.

  • Minimum Period means the minimum period for the Service, the initial term of which is set out on the Front Sheet and which starts on the Service Start Date; the minimum period may be renewed on agreement between you and us from time to time for further minimum periods for the same length as, or different to, the initial term.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Minimum Term means the minimum initial period of service for each Service as shown on the Service Agreement and Order Schedule, such period to start on the date on which the relevant Service is first made available to you for use. For the avoidance of doubt, unless otherwise agreed the minimum term will be 12 months from your contract commencement date or other such date as may be notified to you in accordance with paragraph 19.2.

  • Minimum Annual Resource Requirement means, for Delivery Years through May 31, 2017, the minimum amount of capacity that PJM will seek to procure from Annual Resources for the PJM Region and for each Locational Deliverability Area for which the Office of the Interconnection is required under Tariff, Attachment DD, section 5.10(a) to establish a separate VRR Curve for such Delivery Year. For the PJM Region, the Minimum Annual Resource Requirement shall be equal to the RTO Reliability Requirement minus [the Sub-Annual Resource Reliability Target for the RTO in Unforced Capacity]. For an LDA, the Minimum Annual Resource Requirement shall be equal to the LDA Reliability Requirement minus [the LDA CETL] minus [the Sub-Annual Resource Reliability Target for such LDA in Unforced Capacity]. The LDA CETL may be adjusted pro rata for the amount of load served under the FRR Alternative.