EX-10.4 7 pdyn-ex10_4.htm EX-10.4 EX-10.4

展示物10.4

プレースメントエージェント契約

2024年10月31日です。

パラディン人工知能会社

650サウス500ウェスト、スイート150号室

84101UT州ソルトレイクシティ
Chief Executive Officer 宛

ウォルフ様へ：

This letter (the “契約”）は、A.G.P./Alliance Global Partners（以下「corp」という）、およびデラウェア州の企業であるPalladyne AI Corp.（以下「corp」という）との間の契約を構成します。プレースメント・エージェント」）およびPalladyne AI corp.、デラウェア州の法人（以下「corp」という）、との契約を構成するもので、プレースメント・エージェントは、合理的な「最善の努力」 базで、会社の提案募集に関連して、排他的なプレースメント・エージェントとしてサービスを行うものとします。会社」調達シェアの非公募発行"の普通株式"株式普通株式の合計1,030,928株（以下「普通株式」）および普通株式シェアの非公募発行"のwarrants"一般的な注文権シェアの非公募発行"のwarrants"プレファンドウォレット「シェア」と共に一緒に、普通株式と普通株式のワラント、ここで言及される「証券」。実際にプレイスメント・エージェントによって配置された有価証券は、ここで「配置証券」。シェア、プリファンドウォランツおよびプリファンドウォランツの株式は、会社の登録声明のもとで売買されます。フォームS-3（ファイル番号333-268399）、普通ワラントと普通ワラントの株式は、1933年証券法の登録要件を免除された同時の非公募発行で売却されます。プレイスメントに関連して会社と購入者（以下で定義される）によって実行および提供される書類、特に、1つ以上の証券購入契約（それぞれ「購入契約書、」、そして総称して「購入契約書」)配布に関連する会社と購入者（以下で定義される）によって実行および提供される書類はここでは「」と総称されます。取引文書.”

プレースメントの条件は、会社と購入契約に署名した購入者（それぞれ、a」購入者」とまとめると、」購入者」）、そして本書のいかなる内容も、プレースメント・エージェントに会社または購入者を拘束する権限または権限を与えるものではなく、また、当社がプレースメント証券を発行したり、プレースメントを完了したりする義務を構成するものでもありません。当社は、本契約に基づくプレースメント・エージェントの義務は最善の努力に基づくものであり、本契約の締結はプレースメント・エージェントによる有価証券の購入の約束を構成するものではなく、有価証券またはその一部のポジショニングの成功、または会社に代わってその他の資金調達を確保することに関するプレースメント・エージェントの成功を保証するものではないことを明確に認識し、同意します。プレースメント・エージェントは、プレースメントに関連して、サブエージェントまたは特定のディーラーとして、他のブローカーやディーラーを雇うことがあります。プレースメント・エージェントの特定の関連会社は、有価証券の一部を購入することでプレースメントに参加することができます。購入者への有価証券の売却は、会社と購入者が合理的に受け入れられる形式で、会社と購入者との間で締結される購入契約によって証明されます。ここで特に定義されていない大文字の用語は、購入契約でそのような用語に与えられた意味を持ちます。購入契約に署名する前に、会社の役員が購入予定者からの問い合わせに答えます。

会社の表明と保証；会社の慣行.

(a)
会社の表現Placement Securitiesに関する各表明および保証（関連開示スケジュールを含む）およびPlacementに関するPurchase契約で会社がPurchasersに対して行ったいかなる契約も、本契約に参照として取り込まれるものとし、この契約に全面的に再掲されたものとして、この契約の日付およびClosing Dateをもって、Placement Agentに対して行われ、または行われるものとします。前記の他に、会社は、PlacementへのFINRAメンバー企業との関係に関して、会社の役員、取締役、または会社の10.0%以上の株主の内、Companyの知識によればいかなる関係もないことを表明および保証します。
(b)
会社の規約。当社は、(i) 公開会社会計監視委員会に登録された独立した公認会計事務所を引き続き維持することを約束し、同意します（」ピカオブ」) 締切日から少なくとも3年間、(ii) プレースメント証券に関する有能な譲渡代理人は、締切日から3年間です。さらに、本書の日付から締切日の60日後まで、購入契約に規定されている特定の例外を除き、当社も子会社も、普通株式または普通株式同等物の株式の発行、発行または発行の提案に関する契約の発行、締結はできません。ただし、そのような制限は免除発行（購入契約で定義されているとおり）には適用されません。さらに、本書の日付から締切日の6か月後まで、当社も子会社も、変動金利取引（購入契約で定義されているとおり）を含む普通株式または普通株式同等物（購入契約で定義されているとおり）（またはその単位の組み合わせ）の当社またはその子会社による発行を行う契約を締結または締結しないものとします。にとって

 

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疑念を払拭するため、かつ買収契約第4.11(a)条に規定された制限にかかわらず、（ｘ）会社は売り手契約、市場売り契約、または類似の契約（「ATM」）（そしてそのATMに関連して証券取引委員会（「委員会」）との連絡で任意の目論見書補足を提出することが許可されます）、（ｙ）終了日から30日後から導入しつつ、会社はATMの下で普通株式の販売を行うことができますが、普通株式の販売価格が株あたり$2.40以上である必要があり、（ｚ）終了日から60日後から本条項1(b)は、ATMの下で会社が普通株式を売却する際の株価を制限しません。本条項1(b)に従わない発行を差し止める権利を買収者は行使でき、この救済措置は損害金を回収する権利に加えて行使できます。

第2部門。プレイスメントエージェントの表現プレイスメントエージェントは、(i)米国金融業界監督機構（ FINRA）、（ii）証券取引法（1934年改正版）（“取引所法）の信頼できるメンバーであり、プレイスメント証券のオファーまたは販売が行われる各州の証券法（該当州のブローカーディーラー登録要件を免除されていない限り）、（iii）米国の法律に基づきブローカーディーラーとしてライセンスを取得しており、プレイスメントエージェントによるプレイスメント証券のオファーおよび販売に適用される（iv）は、および企業体の法的に有効な存在であり続け、（v）はこの契約の義務を履行する権限および権限を有しています。プレイスメントエージェントは、(i)〜(v)に関するステータスに変更があった場合は、すみやかに書面で会社に通知するものとします。プレイスメントエージェントは、本契約の規定と適用法の要件に従い、合理的な最善の努力を行い、このプレイスメントを行うことを約束します。

Section 3. Compensation. In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent and/or its respective designees a cash fee of 7.0% of the aggregate gross proceeds raised from the sale of the Placement Securities to the Purchaser listed in Exhibit A hereto. The Placement Agent reserves the right to reduce any item of compensation or adjust the terms thereof as specified herein in the event that a determination is made by FINRA to the effect that the Placement Agent’s aggregate compensation is in excess of that permitted by FINRA Rules or that the terms thereof require adjustment.

Section 4. Expenses. The Company agrees to pay all costs, fees and expenses incurred by the Company in connection with the performance of its obligations hereunder and in connection with the transactions contemplated hereby, including, without limitation: (i) all expenses incident to the issuance, delivery and qualification of the Placement Securities (including all printing and engraving costs); (ii) all fees and expenses of the registrar and transfer agent of the Shares; (iii) all necessary issue, transfer and other stamp taxes in connection with the issuance and sale of the Placement Securities; (iv) all fees and expenses of the Company’s counsel, independent public or certified public accountants and other advisors; (v) all costs and expenses incurred in connection with the preparation, printing, filing, shipping and distribution of the Registration Statement (including financial statements, exhibits, schedules, consents and certificates of experts), the Prospectus and each Prospectus Supplement, and all amendments and supplements thereto, and this Agreement; (vi) all filing fees, reasonable attorneys’ fees and expenses incurred by the Company in connection with qualifying or registering (or obtaining exemptions from the qualification or registration of) all or any part of the Placement Securities for offer and sale under the state securities or blue sky laws or the securities laws of any other country; (vii) the fees and expenses associated with including the Placement Securities on the Trading Market; (viii) up to $50,000 for accountable expenses related to legal fees of counsel to the Placement Agent only upon consummation of the Placement; and (ix) a non-accountable expense allowance equal to $10,000.

Section 5. Tail Fee. The Placement Agent shall be entitled to compensation under Section 3 of this Agreement, calculated in the manner set forth herein with respect to any public or private offering or other financing or capital raising-transaction of any kind (“Tail Financing”) to the extent that such Tail Financing is both (i) provided to the Company by the Purchaser listed in Exhibit B hereto and (ii) consummated at any time prior to October 22, 2025; provided, however, that no compensation shall be payable under this Section 5 with respect to any subsequent purchases of Company securities made by officers, directors or employees of the Company. The issuance of any stock or equity of the Company to its officers, directors, employees, potential employees or consultants shall not be deemed a Tail Financing.

Section 6. Indemnification.

(a)
To the extent permitted by law, with respect to the Placement Securities, the Company shall indemnify the Placement Agent and its affiliates, and the respective directors, officers, employees and controlling persons (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) of any of the foregoing, from and against any and all claims, actions, suits, proceedings (including those of shareholders) damages, expenses and liabilities, as the same are incurred (including reasonable actual and documented fees and expenses of counsel) as incurred, that are relating to or arising out of its activities hereunder or pursuant to this Agreement, except to the extent that any losses, claims, damages, expenses or liabilities (or actions in

 

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respect thereof) are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and directly from the Placement Agent’s willful misconduct or gross negligence in performing the services described herein or violation of law.
(b)
 Promptly after receipt by the Placement Agent of notice of any complaint or the assertion or institution of any claim or the commencement of any action or proceeding with respect to which the Placement Agent is entitled to indemnity hereunder, the Placement Agent will immediately notify the Company in writing of such complaint, claim or of the commencement of such action or proceeding, but failure or delay of notification to so notify the Company shall not relieve the Company from any obligation it may have hereunder, except and only to the extent such failure results in the forfeiture by the Company of substantial rights and defenses or materially adversely impacts the Company. If the Company so elects or is requested by the Placement Agent, the Company will assume the defense of such action or proceeding and will employ counsel reasonably satisfactory to the Placement Agent and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, the Placement Agent will be entitled to employ its own counsel separate from counsel for the Company and from any other party in such action if counsel for the Placement Agent reasonably determines that it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the Company and the Placement Agent. In such event, the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company, in addition to fees of local counsel. The Company will have the right to settle, compromise, or consent to the entry of judgment in any pending or threatened claim, action or proceeding, provided that the Company will not settle any such claim, action or proceeding without the prior written consent of the Placement Agent, which will not be unreasonably withheld, conditioned, or delayed, unless such settlement includes an unconditional release of the Placement Agent and each other indemnitee named in such proceeding from all liabilities arising out of the action for such claim, action or proceeding. The Company will not be liable for settlement of any action effected without its written consent, which may not be unreasonably withheld, conditioned or delayed.
(c)
The Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement of any action or proceeding relating to a transaction contemplated by this Agreement.
(d)
 If for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless, then the Company shall contribute to the amount paid or payable by the Placement Agent as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and the Placement Agent on the other, but also the relative fault of the Company on the one hand and the Placement Agent on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable considerations. The amounts paid or payable by a party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action or claim. Notwithstanding the provisions hereof, the Placement Agent’s share of the liability hereunder shall not be in excess of the amount of fees actually received, or to be received, by the Placement Agent under this Agreement (excluding any amounts received as reimbursement of expenses incurred by the Placement Agent).
(e)
The provisions of this Section 6 will remain in full force and effect, survive the expiration or termination of this Agreement, and be in addition to any liability that the Company might otherwise have to any indemnified party under this Agreement, whether or not the transaction contemplated by this Agreement is completed.

Section 7. Engagement Term. The Placement Agent’s engagement hereunder will be until the earlier of (i) November 6, 2024, or November 21, 2024 if extended by the Company by written notice to the Placement Agent, and (ii) the Closing Date (such earlier date, the “Termination Date”); provided, however, the Placement Agent may terminate this Agreement prior to the Termination Date if it reasonably determines that it is unsatisfied with the results of its due diligence investigation, notwithstanding its best efforts to complete the Placement. The Company may terminate the engagement hereunder for any reason prior to the Termination Date. If this Agreement expires or terminates prior to the completion of the Placement, the Company shall reimburse expenses incurred by the Placement Agent, pursuant to Section 4 hereof but in no event greater than the amounts set forth in Section 4, up to and including the Termination Date. The Placement Agent may not use any confidential information concerning the Company provided by the Company for any purposes other than those contemplated under this Agreement.

Section 8. Placement Agent Information. The Company agrees that any information or advice rendered by the Placement Agent in connection with this engagement is for the confidential use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s prior written consent.

Section 9. No Fiduciary Relationship. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except those entitled hereto by virtue of the indemnification provisions hereof. The Company acknowledges and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no

 

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duties or liabilities to the equity holders or the creditors of the Company or any other person by virtue of this Agreement or the retention of the Placement Agent hereunder, all of which are hereby expressly waived.

Section 10. Closing. The obligations of the Placement Agent, and the closing of the sale of the Placement Securities hereunder are subject to the accuracy, when made and on the Closing Date, of the representations and warranties on the part of the Company contained herein and in the Purchase Agreements, to the performance by the Company of its obligations hereunder and in the Purchase Agreements, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived by the Placement Agent:

(a)
All corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement, the Placement Securities, and all other legal matters relating to this Agreement and the transactions contemplated hereby with respect to the Placement Securities have been completed or resolved in a manner reasonably satisfactory in all material respects to the Placement Agent.
(b)
The Placement Agent has received from outside legal counsel to the Company such counsel’s written opinion with respect to the Placement Securities, addressed to the Placement Agent and dated as of the Closing Date, in form and substance reasonably satisfactory to the Placement Agent.
(c)
The Placement Agent has received customary certificates of the Company’s executive officers (the “Officer’s Certificate”) as to the accuracy of the representations and warranties contained in the Purchase Agreement, and a certificate of the Company’s secretary (the “Secretary’s Certificate”) certifying (i) that the Company’s organizational documents are true and complete, have not been modified and are in full force and effect; (ii) that the resolutions of the Company’s Board of Directors relating to the Placement are in full force and effect and have not been modified; and (iii) as to the incumbency of the officers of the Company. Each of the Officer’s Certificate and Secretary’s Certificate must be dated as of the Closing Date, and all documents referenced in the Secretary’s Certificate must be attached thereto.
(d)
The Common Stock has been registered under the Exchange Act and listed, admitted and authorized for trading on the Trading Market or other applicable U.S. national exchange as of the Closing Date, and the Placement Agent has received reasonably satisfactory evidence of such actions. The Company has not taken any action designed to, or likely to have the effect of terminating the registration of the Common Stock under the Exchange Act or delisting, or suspending from trading, the Common Stock from the Trading Market or other applicable U.S. national exchange. The Company has not received any information suggesting that the Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration or listing.
(e)
No action or proceeding before a court of competent jurisdiction has been taken, and no statute, rule, regulation or order has been enacted, adopted or issued by any governmental agency or body that would, as of the Closing Date, prevent the issuance or sale of the Placement Securities or materially and adversely affect the business or operations of the Company. No injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction has been issued as of the Closing Date that would prevent the issuance or sale of the Placement Securities or materially and adversely affect the business or operations of the Company.
(f)
The Company has entered into a Purchase Agreement with each of the Purchasers of the Placement Securities, and such agreements are in full force and effect and contain representations, warranties and covenants of the Company as agreed upon between the Company and the Purchasers.
(g)
FINRA raised no objections to the fairness and reasonableness of the terms and arrangements of this Agreement. If requested by the Placement Agent, the Company has filed, or has authorized the Placement Agent’s counsel to file on the Company’s behalf, with FINRA all necessary materials in compliance with FINRA Rule 5110 with respect to the Placement and has paid all filing fees required in connection therewith.
(h)
The Placement Agent has received an executed Lock-Up Agreement from each of the Company’s officers and directors prior to the Closing Date.
(i)
 On or before the Closing Date, the Placement Agent and counsel for the Placement Agent have received such information and documents as they may reasonably require for the purposes of enabling them to pass upon the issuance and sale of the Placement Securities as contemplated herein, or in order to evidence the accuracy of any of the representations and warranties of the Company, or the satisfaction of any of the conditions or agreements, herein contained.

 

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If any of the conditions specified in this Section 10 have not been fulfilled when and as required by this Agreement, the Placement Agent may terminate this Agreement at any time on or prior to the Closing Date by giving oral or written notice to the Company. Any such oral notice must be promptly confirmed in writing.

Section 11. Governing Law. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements made and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement is binding upon, and inure to the benefit of, the parties hereto and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or into the federal court located in New York, New York, and, by execution and delivery of this Agreement, the Company hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto irrevocably waives personal service of process, consents to process being served in any such suit, action or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement, and acknowledges that such service will constitute good and sufficient service of process and notice thereof. If either party commences an action or proceeding to enforce any provisions of this Agreement, then the non-prevailing party in such action or proceeding shall reimburse the prevailing party for its attorney’s fees and other costs and expenses incurred in connection with such action or proceeding.

Section 12. Entire Agreement/Miscellaneous. This Agreement embodies the entire agreement and understanding between the parties hereto, and supersedes all prior agreements and understandings, including that certain engagement letter, dated October 22, 2024, between the Company and the Placement Agent, relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument in writing signed by both the Placement Agent and the Company. The representations, warranties, agreements and covenants contained herein shall survive the Closing Date of the Placement and delivery of the Placement Securities. This Agreement may be executed in two or more counterparts, all of which, when taken together, will be considered one and the same agreement. This Agreement will become effective when each party hereto has received a counterpart hereof signed by the other party. In the event that any signature is delivered by facsimile transmission or a .pdf format file, such signature will create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or .pdf signature page were an original thereof.

Section 13. Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder must be in writing and will be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a Business Day, (b) the next Business Day after the date of transmission, if such notice or communication is sent to the email address on the signature pages attached hereto on a day that is not a Business Day or later than 6:30 p.m. (New York City time) on any Business Day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications are as set forth on the signature pages hereto.

Section 14. Press Announcements. The Company agrees that the Placement Agent may, on and after the Closing Date, reference the Placement and the Placement Agent’s role in connection therewith in the Placement Agent’s marketing materials and on its website and to place advertisements in financial and other newspapers and journals, in each case at its own expense.

[The remainder of this page has been intentionally left blank.]

 

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Please confirm that the foregoing correctly sets forth our agreement by signing and returning to the Placement Agent the enclosed copy of this Agreement.

Very truly yours,

A.G.P./Alliance Global Partners

 

By:

 

 

Name:

Thomas Higgins

 

Title:

Managing Director

 

 

Address for notice:

590 Madison Avenue, 28th Floor

New York, New York 10022

Attn: Investment Banking

Email: investmentbanking@allianceg.com

 

 

Accepted and Agreed to as of
the date first written above:

Palladyne AI Corp.

 

By:

 

 

Name:

Benjamin B. Wolff

 

Title:

Chief Executive Officer

 

 

Address for notice:

650 South 500 West, Suite 150

Salt Lake City, UT 84101

Email: bw@palladyneai.com