Company: OFIX
Filing Date: 2025-02-25
Form Type: S-3ASR
Source: 0000950170-25-026634
Chunk: 20

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: S-3ASR
Chunk 20
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over Effects of Provisions of our Certificate of Incorporation, our Bylaws and Delaware Law

Section 203 of the DGCL

We are subject to provisions of Delaware law, including Section 203 of the DGCL. Section 203 of the DGCL prohibits a Delaware corporation from engaging in a “business combination” with an “interested stockholder” for three years following the date that such person becomes an interested stockholder, unless certain exceptions apply. With certain exceptions, an “interested stockholder” is a person or group (other than the corporation and any direct or indirect majority owned subsidiary of the corporation) who or which owns 15% or more of the corporation’s outstanding voting stock (including any rights to acquire stock pursuant to an option, warrant, agreement, arrangement or understanding, or upon the exercise of conversion or exchange rights, and stock with respect to which the person has voting rights only), or is an affiliate or associate of the corporation and was the owner of 15% or more of such voting stock at any time within the three-year period immediately prior to the date on which it is sought to be determined whether such person is an interested stockholder.

For purposes of Section 203 of the DGCL, the term “business combination” is defined broadly to include, among other things, (i) mergers with or caused by the interested stockholder, (ii) sales or other dispositions to the interested stockholder (except proportionately with the corporation’s other stockholders) of assets of the corporation or a subsidiary equal to 10% or more of the aggregate market value of the corporation’s consolidated assets or its outstanding stock, (iii) the issuance or transfer by the corporation or a subsidiary of stock of the corporation or such subsidiary to the interested stockholder (subject to certain exceptions), (iv) transactions that increase the proportionate share of any class or series of capital stock or securities convertible into capital stock of the corporation of the interested stockholder, and (v) receipt by the interested stockholder (except proportionately as a stockholder), directly or indirectly, of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation or a subsidiary.

The three-year moratorium imposed on business combinations by Section 203 does not apply in the following situations: (i) prior to the date on which such stockholder becomes an interested stockholder, the board of directors approved the business combination or the transaction which resulted in the person becoming an interested stockholder, (ii) the interested stockholder owns