MyMD Pharmaceuticals Filing From Late Monday Shows Co. Entered Omnibus Waiver And Amendment Agreement With Required Holders Under Previously Announced Securities Purchase Agreement
MyMD Pharmaceuticals Filing From Late Monday Shows Co. Entered Omnibus Waiver And Amendment Agreement With Required Holders Under Previously Announced Securities Purchase Agreement
As previously disclosed, on February 21, 2023, MyMD Pharmaceuticals, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") with certain accredited investors (the "Holders") pursuant to which it agreed to sell to the Holders (i) shares of the Company's Series F Convertible Preferred Stock, with a stated value of $1,000 per share (the "Preferred Shares"), and (ii) warrants to purchase shares of the Company's common stock (the "Common Stock"), subject to adjustment (the "Warrants"). The terms of the Preferred Shares are as set forth in the Certificate of Designations filed with the Secretary of State of the State of Delaware (the "Secretary of State") as Annex C to the Company's Certificate of Incorporation (the "Certificate of Designations").
正如先前披露的那样，2023年2月21日，myMD Pharmicals, Inc.（“公司”）与某些合格投资者（“持有人”）签订了证券购买协议（“购买协议”），根据该协议，该公司同意向持有人出售（i）公司F系列可转换优先股，规定价值为每股1,000美元的股份（“优先股”），以及（ii）购买股票的认股权证公司的普通股（“普通股”），视情况而定（“认股权证”）。优先股的条款载于作为公司注册证书（“指定证书”）附件C向特拉华州国务卿（“国务卿”）提交的指定证书。
On April 5, 2024, the Company entered into an Omnibus Waiver and Amendment (the "Omnibus Agreement") with the Required Holders (as defined in the Certificate of Designations). Pursuant to the Omnibus Agreement, the Required Holders agreed (i) to defer payment of the Installment Amounts (as defined in the Certificate of Designations) due on March 1, 2024, and April 1, 2024 (the "Installments"), under Section 9(a) of the Certificate of Designations, until May 1, 2024, and (ii) to waive any breach or violation of the Purchase Agreement, the Certificate of Designations, or the Warrants resulting from missing the Installments. The Company and the Required Holders further agreed pursuant to the Omnibus Agreement to amend and restate the Certificate of Designations by filing the Amended and Restated Certificate of Designations of the Series F Convertible Preferred Stock (the "Amended and Restated Certificate of Designations").
2024年4月5日，公司与所需持有人（定义见指定证书）签订了综合豁免和修正案（“综合协议”）。根据综合协议，被要求的持有人同意（i）根据指定证书第9（a）条将2024年3月1日和2024年4月1日到期的分期付款（定义见指定证书）（“分期付款”）推迟至2024年5月1日，以及（ii）放弃任何违反或违反购买协议、指定证书或认股权证的行为因错过分期付款而产生的损失。根据综合协议，公司和所需持有人进一步同意通过提交经修订和重述的F系列可转换优先股指定证书（“经修订和重述的指定证书”）来修改和重申指定证书。
The Amended and Restated Certificate of Designations amends the Certificate of Designations to provide, among other things, that, except as required by applicable law, the holders of Preferred Shares will be entitled to vote with holders of the Common Stock on as as-converted basis, with the number of votes to which each holder of Preferred Shares is entitled to be calculated assuming a conversion price of $60.21 per share, which was the Minimum Price (as defined in Rule 5635 of the Rule of the Nasdaq Stock Market) applicable immediately before the execution and delivery of the Purchase Agreement, subject to certain beneficial ownership limitations as set forth in the Amended and Restated Certificate of Designations. The Amended and Restated Certificate of Designations further provides that the holders of record of the Preferred Shares, exclusively and as a separate class, shall be entitled to elect one director of the Company one time on or before June 30, 2024.
经修订和重述的指定证书对指定证书进行了修订，其中规定，除适用法律要求外，优先股持有人将有权在转换后的基础上与普通股持有人一起投票，每位优先股持有人有权获得的选票数是假设转换价格为每股60.21美元，这是最低价格（定义见第5635条）执行前立即适用的纳斯达克股票市场规则）以及购买协议的交付，但须遵守经修订和重述的指定证书中规定的某些实益所有权限制。经修订和重述的指定证书进一步规定，优先股的登记持有人，无论是单独的还是单独类别的，都有权在2024年6月30日当天或之前一次选举公司的一名董事。