Exit Shares are the shares of Common Stock that a company issues to purchasers, often as part of a financing agreement.
In more detail, "Exit Shares" specifically refers to:
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Shares of Common Stock: These are typical shares representing ownership in a company.
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Issued by the Company: The company itself creates and distributes these shares.
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To the Purchasers: These are the individuals or entities buying the shares, often investors.
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Pursuant to Section 2.1(c): This references a specific clause within a legal document (likely a financing agreement or a purchase agreement) that outlines the terms and conditions for the issuance of these shares. This section will detail the number of shares, the price, and other relevant details. It's crucial to consult the relevant documentation to understand the full context of these "Exit Shares".
- It also gives a reference to FCPA the Foreign Corrupt Practices Act of 1977, as amended.
In simpler terms, think of Exit Shares as a designated portion of a company's ownership given to investors as part of a deal. The specifics of the deal (like how many shares and what the price is) are found in the legal agreement. The FCPA relates to standards that must be met in these transactions.
