EX-10.3 4 ex10-3.htm

 

展覽10.3

 

交易所協議

 

本 交易協議(以下簡稱“協議”)由德拉華州法人Eterna Therapeutics Inc.(以下簡稱“公司”)與本協議簽署頁上標明的可轉換票據(如下所定義)和/或權證 (如下所定義)的持有人(“持有人”).

 

鑑於根據2022年11月23日簽署的某項證券購買協議,公司向其中每位購買者發行了購買該公司普通股的認股權證,每股面值爲0.005美元(每股稱爲“普通股”和「買方」,合稱「買方」)共同訂立。普通股份。”)股票購買權證。”於2022年12月2日發行(“2022年12月認股權證”);

 

鑑於根據2023年7月13日簽訂的某項證券購買協議,公司向每位購買者發行了可轉換債券(“2023年7月可轉換債券”)和購買普通股的認股權證(“2023年7月認股權證”);

 

鑑於根據2023年12月14日簽署的某項證券購買協議,公司向該協議下的每位購買者發行了可轉換票據(稱爲“2023年12月可轉換票據”和包括2023年7月可轉換票據在內的“可轉換票據”和包括購買普通股的認股權證(稱爲“2023年12月認股證”和包括2022年12月認股權證和2023年7月認股權證在內的“權證”);

 

鑑於, 持有方希望根據此處規定的換股比率,將指定在附表1中的可轉換債券(如果有的話)換取普通股(每張此類可轉換債券簡稱“已交換債券全部協議稱爲「」。Exchanged Notes”);

 

鑑於, 持有人希望根據本處所述的換股比率將所列在附表2上的權證(如有)交換爲普通股(每種此類權證,簡稱「權證」已交換權證全部協議稱爲「」。已交換權證”;總稱爲換股證券已交換證券”);

 

鑑於與其他交易所同時進行交易(如下所定義),並作爲與其他持有者(統稱爲其他持有者)發行的類似認股權證和可轉債無縫結合交易中的一部分。其他交易所”和這些其他持有者,其他持有者”);

 

鑑於在交易所及其他交易所交割後,持有人和其他持有人將會擁有「控制權」 (如1986年《內部稅收法典》第368(c)節所定義), 該公司和交易所及其他交易所旨在符合《法典》第351(a)節有關財產稅延期貢獻的要求;代碼在交易所及其他交易所交割後,持有人和其他持有人將會擁有「控制權」 (如1986年《內部稅收法典》第368(c)節所定義), 該公司和交易所及其他交易所旨在符合《法典》第351(a)節有關財產稅延期貢獻的要求;

 

鑑於交易所依靠《證券法》第3(a)(9)條規定的註冊豁免進行交易,該法案已經修訂(“1933法案”).

 

現在, 因此根據本協議中所約定的相互契約、承諾和協議,各方特此同意如下:

 

1. 交易所在交易所交割的日期(「交割日」)的條款和條件規定之下,本協議生效,須遵守結盤, 該日期須符合股東批准(如證券購買協議所定義,該協議於本協議約定日期與公司及購買方當事方之間簽定(「2024 SPA」))的要求,並須在股東批准獲得後儘快進行2024 SPA”))的股東批准獲得後,股東應將以下內容免除任何留置權,轉讓並交付給公司:

 

(a) 按照以下換股比率,用交易所換取有效發行的、已全額支付且不可追索的普通股 (i) 以美元表示的總額(A)該可轉股票據的本金金額,加上(B)截至交割日尚未支付的所有利息,加上(C)該可轉股票據到期日之前但不包括到期日之後所有的利息,除以 (ii) 1.00美元(向最接近整數四捨五入),屆時所有的交換票據將自動註銷,並且雙方在此基礎上的一切權利和義務將被視爲自動終止和/或完全解決;

 

(b) 以每隻已行使之交換權證對應的每隻待行使交換權證的0.5股已發行、已足額支付及無須付款的普通股的比值交換每一隻普通股(四捨五入至最接近的整數),屆時所有已交換權證應被自動取消,並認爲各方根據其下的全部權利和義務應自動終止和/或完全滿足(在1(a)和1(b)款中描述的交易,“交易所” 以及用於以待交換證券交換的普通股,“交換股份”)).

 

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2. 結盤.

 

公司在結束時的義務受以下條件的約束:

 

(i) 在所有方面,收盤日(「交割日」)時及製作時的準確性結束日期。)代表及保證的內容由持有人在此處包含(除非特定日期之前的日期,其中情況下將在該日期視爲準確);

 

(ii) 所有持有人在截止日期或之前需要履行的義務、契約和協議均已履行;而

 

(iii) 股東批准已獲得。

 

(b) 在完成交割時,持有人在此項下的義務受以下條件的約束:

 

(i)本公司所述陳述和保證在製作時和結算時在所有方面(或者,如果陳述或保證通過重大性或重大負面影響來限定,則在所有方面)屬實,除非它們作爲特定日期當時,其中情況下,它們將準確無誤;

 

(ii) 在截止日期或截止日期之前,公司需要履行的所有義務、契約和協議均已履行;

 

(iii) 股東批准已獲得;

 

自本協議成立以來,公司沒有發生任何重大不利影響;同時

 

(v) 從此日期至截止日期,普通股的交易不得被委員會或公司的主要交易市場(如2024 SPA中定義的那樣)暫停,並且在截止日期之前,由彭博有限合夥報告的證券的交易不得被暫停或受限制,或最低價格不得被規定在由該服務報告的證券上,或在任何交易市場上,也不得由美國或紐約州當局宣佈銀行停業,也不得發生由於其影響範圍較大的重大戰爭爆發或升級或其他國家或國際災難,或任何對任何金融市場造成的重大不利變化,在持有人的合理判斷下,使得在截止日期時收購交易所股票變得不切實可行或不明智。

 

3. 公司的陳述和保證公司同意遵守所載的陳述、擔保和契約。附錄 A 附載於此的附表Schedule 1.86。

 

4. 持有人的陳述和擔保。 持有人謹此於本日及結束之日向公司作出以下陳述和擔保:

 

(a) 組織; 權限。此類買方是在其所在司法管轄區內依法成立、合法存在且正常經營的實體,擁有進行並完成交易文件(如下定義)所述交易的必要權力和權限,以及履行本協議和其他文件之下的其義務。持有人可以是自然人或依法成立或設立的實體,在其設立或成立的司法管轄區依法存在且合法,並且具有完全的權利、企業、合夥、有限責任公司或類似權力和權限,以便進行並完成本協議所涉及的交易,並且可以履行本協議下和相關協議下的義務。持有人已經獲得了所有必要的企業、合夥、有限責任公司或類似行動的授權,必要時應適用,作為持有人的一部分所採取的行動。本協議已經由持有人正式簽署,並且按照本協議的條款由持有人交付時,將構成持有人的有效和合法約束,根據其條款可依法對其進行強制執行,但受到(i)一般公正原則和影響債權人權利執行的一般適用法律所限制,(ii)受到關於特定履行、禁制令或其他公平救濟的法律所限制,以及(iii)對於可能受到適用法律限制的賠償和貢獻條款。

 

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(b) 沒有違規. Holder執行與交付本協議,Holder履行其在此的義務,進行交易所,或Holder遵守本協議的任何條款或規定,將不會(A)違反Holder的組織文件的任何規定,也不會(B)(x)違反適用於Holder或其資產的任何法律,或(y)違反、衝突、導致違反本協議的任何條款或條款下失去任何利益,構成違約(或通知或消逝時間,或兩者都有,將構成違約) ,導致終止或終止權利或取消權利,加速必要的履行,或導致任何擔保權利在其資產或資產下,交付,債券,抵押,契約,信託契書,許可證,租約,協議或其他文書或義務中的任何條款,或对Holder所為之文成債的依據,或對其任何財產或資產有所拘束,而造成,除了(B)(x)和(B)(y)的範例情況不在此列),這些違反、衝突、違約、終止、取消、加速或建立,不會且不應預料對Holder能力衝擊辯護交易所和本協議所規劃之其他交易,不管是個別地或總體來看。

 

(c) 標題更換證券1.持有人(i)直接持有所有換股證券,並(ii)對換股證券擁有良好、有效且具市場交易性的所有權,並且不受任何留置權的影響。

 

(d) 同意和批准。不需要從持有人那裡獲得同意、批准、放棄、豁免、授權、通知、登記、聲明或提交,也不需要向法院或其他聯邦、州、地方或其他政府當局、監管機構或其他人士(按照2024年股權購買協議中所定義的條款)獲得,也不需要向持有人給予或由持有人進行,在與持有人簽署本協議或履行持有人在本協議中的義務有關的行為。

 

(e) 確認。持有人承認並同意(i)根據1933年法案第3(a)(9)條取得交易所股份,並且持有人並未支付或提供,也不會支付或提供,任何佣金或其他酬金,直接或間接,以徵詢交易所;以及(ii)有機會就交易所的條款和條件提出問題並獲得答案,並獲得該公司擁有或可以在不合理的努力或費用下獲得的任何額外信息。

 

(f) 無券商或中介就與該交易所及本協議中討論的其他交易,Holder本人、其聯屬公司,或任何其或其各自之董事、經理、員工或代理,均未聘用任何券商或中介,也未承擔任何金融顧問費用、券商費用、佣金或中介費用,對此公司應負責

 

5. 稅務處理對於聯邦和適用州收入稅目的,交易所和其他交易是一個整體交易的一部分,旨在被視為根據代碼第351(a)條所管轄的資產投入公司(“預期稅務處理”)。本協議的條款和規定應按照預期稅收處理來解釋和應用,雙方同意提交所有與預期稅收處理一致的稅務申報和報告,並不採取任何與預期稅收處理不一致的立場。本第5條應在本協議終止後繼續存在。

 

6. 進一步保證。各方應及時正式執行並交付文件和保證,並執行可能必要或某方合理時不時要求的進一步行動,以更有效地執行交易。

 

7. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written negotiations and agreements between the parties with respect to the subject matter hereof. No modification, variation or amendment of, or waiver under, this Agreement (including any exhibit hereto) shall be effective unless made in writing and signed by all parties.

 

8. Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof that would result in the application of the laws of any jurisdiction other than the State of New York.

 

9. Counterparts. This Agreement may be signed in counterparts, each of which shall be deemed to be an original and all of which taken together shall be deemed to be one and the same instrument. Signatures of any party transmitted by electronic mail (including, without limitation, electronic mailing of a so-called portable document format or “pdf” of a scanned counterpart) shall be treated as and deemed to be original signatures for all purposes, and will have the same binding effect as if they were original, signed instruments delivered in person.

 

[Remainder of page intentionally left blank.]

 

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IN WITNESS WHEREOF, the undersigned parties have caused this Agreement to be executed as of the date listed above.

 

  ETERNA THERAPEUTICS INC.
     
  By: /s/ Sanjeev Luther
  Name: Sanjeev Luther
  Title: President and Chief Executive Officer

 

[Company signature page to Exchange Agreement]

 

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IN WITNESS WHEREOF, the undersigned parties have caused this Agreement to be executed as of the date listed above.

 

Name of Holder: __________________________________________________________

 

Signature of Authorized Signatory of Holder: ____________________________________

 

Name of Authorized Signatory: Title of Authorized Signatory: ________________________

 

Email Address of Authorized Signatory: _________________________________________

 

Address for Notice to Holder:

 

Address for Delivery of Exchange Shares to Holder (if not same as address for notice):

 

EIN Number: ___________________________

 

[Holder signature page to Exchange Agreement]

 

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Annex A

 

Representations and Warranties of the Company

 

The Company hereby makes the following representations and warranties to Holder:

 

  (a) Organization and Qualification. The Company is an entity duly incorporated, validly existing and in good standing (if the concept of good standing exists in such jurisdiction) under the laws of the jurisdiction of its incorporation, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. The Company is neither in violation nor default of any of the provisions of its certificate of incorporation or bylaws. The Company is duly qualified to conduct business and is in good standing as a foreign corporation in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, would not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of this Agreement; (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company, taken as a whole; or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Action (as such term is defined in the 2024 SPA) has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.
     
  (b) Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby will be duly authorized by all necessary action on the part of the Company and no further action is required by the Company, its board of directors or its stockholders in connection therewith other the Required Approvals (as such term is defined below). This Agreement has been duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally; (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies; and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.
     
  (c) No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s certificate of incorporation or bylaws; or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any lien upon any of the properties or assets of the Company in connection with, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other material instrument (evidencing Company debt or otherwise) or other material understanding to which the Company is a party or by which any property or asset of the Company is bound or affected, other than for which a waiver has been obtained by the Company; or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.
     
  (d) No Consents. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person (as such term is defined in the 2024 SPA) in connection with the execution, delivery and performance by the Company of this Agreement, other than: (i) the filings required pursuant to Section (g) of this Annex A; (ii) the notice and/or application(s) to the Trading Market for the issuance of the Exchange Shares and the listing of the Exchange Shares for trading thereon in the time and manner required thereby; (iii) obtaining the Stockholder Approval (as defined in the 2024 SPA); and (iv) the filing of Form D with the Commission (as defined in the 2024 SPA) and such filings as are required to be made under applicable state securities laws (collectively, the “Required Approvals”).

 

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  (e) Issuance Pursuant to the Exchange. The issuance of the Exchange Shares pursuant to, and in accordance with the terms of, this Agreement is duly authorized on the part of the Company, and when issued will be validly issued, fully paid and nonassessable, free and clear of all liens imposed by the Company. The Company has reserved from its duly authorized capital stock a number of Common Shares equal to the Exchange Shares.
     
  (f) Listing of Common Stock. The Company hereby agrees to use best efforts to maintain the listing or quotation of the Common Shares on the Trading Market on which it is currently listed and to comply in all material respects with its reporting, filing and other obligations under the bylaws or rules of the Trading Market, and on or prior to the Closing, the Company shall apply to list or quote all the Exchange Shares on such Trading Market and use best efforts to secure the listing of all the Exchange Shares on such Trading Market. The Company further agrees, if the Company applies to have the Common Shares traded on any other Trading Market, it will then include in such application all the Exchange Shares and will take such other action as is necessary to cause all the Exchange Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company agrees to maintain the eligibility of the Common Shares for electronic transfer through the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.
     
  (g) Disclosure. The Company shall file a Current Report on Form 8-K within the required timeframe describing the terms of the transactions contemplated hereby in the form required by the Securities Act of 1934 (the “1934 Act”) and attaching this Agreement and any other documents or information, to the extent required to be filed under the 1934 Act, that have not previously been filed with the Commission by the Company as exhibits to such filing (including all attachments, the “8-K Filing”). From and after the filing of the 8-K Filing, the Company shall have disclosed all material, non-public information (if any) provided up to such time to the Holder by the Company or any of its respective officers, directors, employees or agents. In addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement with respect to the transactions contemplated by this Agreement or as otherwise disclosed in the 8-K Filing, whether written or oral, between the Company, or any of its respective officers, directors, affiliates, employees or agents, on the one hand, and Holder or any of their affiliates, on the other hand, shall terminate. The Company shall not, and the Company shall cause each of its respective officers, directors, employees and agents not to, provide Holder with any material, non-public information regarding the Company from and after the date hereof without the express prior written consent of Holder (which may be granted or withheld in Holder’s sole discretion). To the extent that the Company delivers any material, non-public information to Holder without Holder’s consent, the Company hereby covenants and agrees that Holder shall not have any duty of confidentiality with respect to, or a duty not to trade on the basis of, such material, non-public information. Notwithstanding anything contained in this Agreement to the contrary and without implication that the contrary would otherwise be true, the Company expressly acknowledges and agrees that Holder shall not have (unless expressly agreed to by Holder after the date hereof in a written definitive and binding agreement executed by the Company and Holder), any duty of confidentiality with respect to, or a duty not to trade on the basis of, any material, non-public information regarding the Company.
     
  (h) Section 3(a)(9) Exemption. The offer and issuance by the Company of the Common Shares pursuant hereto is exempt from registration under the 1933 Act pursuant to the exemption provided by Section 3(a)(9) thereof.
     
  (i) No Commissions. The Company has not paid or given, and will not pay or give, to any person, any commission or other remuneration, directly or indirectly, for soliciting the Exchange.

 

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Schedule 1

Exchanged Notes

 

Holder   Exchanged Note   Original Principal Amount   Interest Amount (Including PIK, Accrued/Unpaid, and Make- Whole)   Total Amount   Number of Exchange Shares Issuable Upon Exchange of Note
                     
                     
                     

 

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Schedule 2

Exchanged Warrants

 

Holder   Warrant Series   Warrant Shares   Number of Exchange Shares Issuable Upon Exchange of Warrant
             
             
             

 

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