Document:

msn-ex41_91.htm

 

Exhibit 4.1

DESCRIPTION OF COMMON STOCK

General

The following description is a summary that is not complete and is qualified in its entirety by reference to the certificate of incorporation, as amended (the “Certificate of Incorporation”), and the bylaws, as amended (the “Bylaws”), of Emerson Radio Corp., a Delaware corporation (the “Company”), each of which has been filed with the Securities and Exchange Commission. Additionally, the following description of certain provisions of Delaware law is not complete and is qualified by reference to the Delaware General Corporation Law (“DGCL”).

The authorized capital stock of the Company consists of 75,000,000 shares of common stock, $0.01 par value per share (the “Common Stock”), and 10,000,000 shares of undesignated preferred stock, $0.01 par value per share (the “Preferred Stock”), of which 10,000 shares of Preferred Stock have been designated Series A Preferred Stock. The rights, powers, preferences and privileges of holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of Preferred Stock that the Company may designate and issue in the future.

Common Stock

Each share of Common Stock has one vote on all matters to which stockholders are entitled or permitted to vote upon, including the election of directors. There are no cumulative voting rights. Shares of Common Stock would participate ratably in any distribution of assets in a liquidation, dissolution or winding up of the Company subject to prior distribution rights of any shares of Preferred Stock then outstanding. The Common Stock has no preemptive rights or conversion rights nor are there any redemption or sinking fund provisions applicable to the Common Stock. Subject to the rights of the holders of the Series A Preferred Stock, holders of Common Stock are entitled to participate in dividends if and when declared by the Company’s Board of Directors out of funds legally available therefor. 

The transfer agent and registrar for the Common Stock is American Stock Transfer & Trust Company.

The Common Stock is registered under Section 12(b) of the Securities Exchange Act of 1934, as amended, and is listed on the NYSE American under the symbol “MSN.”

Potential Anti-Takeover Implications of Certain Provisions of Governing Documents

The Company’s Certificate of Incorporation contains an express election not to be governed by Section 203 of the DGCL. Section 203 provides generally that a corporation may not engage in certain transactions with an “interested stockholder” (as defined) within a period of three years after the interested stockholder becomes such, unless certain conditions are met. 

In addition, certain provisions of the Company’s Certificate of Incorporation and Bylaws, including provisions (i) authorizing the Board of Directors to create new series of Preferred Stock, (ii) providing that any action requiring stockholder consent must be effected at a meeting as opposed to by consent in writing and (iii) setting forth that directors may only be removed for cause, upon the affirmative vote of at least 80% of the voting securities then outstanding, voting together as a single class, may make it more difficult for a third party to make, or may discourage a third party from making, an acquisition proposal for the Company or initiating a proxy contest and may thereby inhibit a change in control of the Company or the removal of incumbent management or directors.Exhibit 4.1

 

	
        NUMBER

         

        U-__________

         
	
         
	UNITS
	SEE REVERSE FOR

 CERTAIN DEFINITIONS	ORISUN ACQUISITION CORP.	 

 

CUSIP
G[____]

 

UNITS
CONSISTING OF ONE SHARE OF COMMON STOCK, ONE WARRANT AND

ONE
RIGHT TO RECEIVE ONE-TENTH OF ONE SHARE OF COMMON STOCK

 

THIS
CERTIFIES THAT ____________________________________________________________________________

 

is
the owner of _______________________________________________________________________________ Units.

 

Each
Unit (“Unit”) consists of one share of common stock, with $0.00001 par value, of Orisun Acquisition Corp., a Delaware
company (the “Company”), one redeemable warrant (“Warrant”) and one right (“Right”) to receive
one-tenth (1/10) of a share of common stock. Each redeemable Warrant entitles the holder thereof to purchase one-half (1/2) of
a share of common stock at a price of $11.50 per full share (subject to adjustment), upon the later to occur of (i) the Company’s
completion of a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business
combination with one or more businesses or entities (a “Business Combination”) or (ii) one year following the date
that the registration statement (file number: 333-[___], the “Registration Statement”) for the Company’s initial
public offering (the “Offering”) is effective, i.e., [*], 2019. Every ten Rights entitles the holder thereof to receive
one share of common stock upon consummation of the Company’s initial Business Combination. The common stock, Rights and
Warrants comprising the Units represented by this certificate are not transferable separately prior to the 90th day after the
date of the Registration Statement, unless Chardan Capital Markets, LLC (“Chardan”) determines that an earlier date
is acceptable, but in no event will the common stock, Rights and Warrants be traded separately until the Company files with the
Securities and Exchange Commission (the “SEC”) a current report on Form 8-K which includes an audited balance sheet
reflecting the receipt by the Company of the gross proceeds from its Offering including the proceeds received by the Company from
the exercise of the over-allotment option thereto, if the over-allotment option is exercised. If Chardan allows separate trading
of the common stock, Rights and Warrants prior to the 90th day after the date of the Registration Statement, the Company will
issue a press release and file a Current Report on Form 8-K with the SEC announcing when such separate trading shall begin.

 

The
terms of the Warrants and Rights are governed by a warrant agreement (the “Warrant Agreement”), dated as of [*], 2019,
and a rights agreement (the “Rights Agreement”), dated as of [*], 2019, respectively, both between the Company and
American Stock Transfer & Trust Company, LLC, as the warrant agent and rights agent, and are subject to the terms and provisions
contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of
the Rights Agreement and the Warrant Agreement are on file at the office of American Stock Transfer & Trust Company, LLC at
6201 15th Avenue, Brooklyn, New York, 11219, and are available to any Warrant Holder or Rights holder, respectively,
on written request and without cost.

 

This
certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.

 

Witness
the facsimile seal of the Company and the facsimile signatures of its duly authorized officers.

 

This
Unit Certificate shall be governed and construed in accordance with the internal laws of the State of New York, without regard
to conflicts of laws principles thereof.

 

     

     

    

 

	 	 	 	[Seal] 	    
	 	 	 	 	 
	By 	      	 	 	   
	 	Chairman	 	 	Chief Financial Officer

 

    2

     

    

 

Orisun
Acquisition Corp. 

 

The
Company will furnish without charge to each shareholder who so requests, a statement of the powers, designations, preferences
and relative, participating, optional or other special rights of each class of shares or series thereof of the Company and the
qualifications, limitations, or restrictions of such preferences and/or rights.

 

The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

 

	TEN COM	-	as tenants in common	UNIF GIFT MIN ACT-	 	Custodian	 	 
	TEN ENT	-	as tenants by the entireties	 	 	(Cust)	 	(Minor)	 
	JT TEN	-	as joint tenants with right of survivorship	under Uniform Gifts to Minors
	 	 	and not as tenants in common	Act	 	 	 	 	 
	 	 	 	 	(State)	 	 	 

 

Additional
Abbreviations may also be used though not in the above list.

 

For
value received, ___________________________ hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE
INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING
NUMBER OF ASSIGNEE(S)

 

	 

                                                        

                                                         
	 

 

 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE(S))
	 
	 
	 
	 

 

	 	 	 Units
	represented by the within Certificate, and do hereby irrevocably constitute
    and appoint	 	 

 

	 	 	 Attorney
	to
transfer the said Units on the books of the within named Company will full power of substitution in the premises.	 	 

 

Dated ______________

 

	 	 	 
		Notice:	The
                                         signature to this assignment must correspond with the name as written upon the face of
                                         the certificate in every particular, without alteration or enlargement or any change
                                         whatever.

 

Signature(s)
Guaranteed:

 

	 	 
	THE
                                                           SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
                                                           AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE
                                                           17Ad-15).

	 

 

The
holder of this certificate shall be entitled to receive funds with respect to the underlying ordinary shares from the trust fund
only in the event of the Company’s liquidation upon failure to consummate a business combination or if the holder seeks
to convert his or her respective ordinary shares underlying the unit upon consummation of such business combination or in connection
with certain amendments to the Company’s Amended and Restated Memorandum and Articles of Association. In no other circumstances
shall the holder have any right or interest of any kind in or to the trust fund.

 

 

3

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