Document:

EXHIBIT 4.4

 

DESCRIPTION OF THE
REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF

 THE SECURITIES EXCHANGE ACT OF 1934

 

As of December 31, 2019,
Cryoport, Inc. (“we,” “us,” “Cryoport” or the “Company”) had the following classes
of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”):
(i) common stock, $0.001 par value per share (“Common Stock”); (ii) warrants to purchase Common Stock at an exercise
price of $3.30 per share (the “$3.30 Warrants”); and (iii) warrants to purchase Common Stock at an exercise price of
$3.57 per share (the “$3.57 Warrants”).

 

Our authorized capital
consists of 100,000,000 shares of Common Stock and 2,500,000 shares of “blank check” preferred stock, $0.001 par value
per share, of which we have designated 800,000 shares as Class A Preferred Stock and 585,000 shares as Class B Preferred Stock,
none of which are currently issued and outstanding. The following description is a summary and is qualified in its entirety by
our Amended and Restated Articles of Incorporation, as amended to date (the “Charter”), our Amended and Restated Bylaws,
as currently in effect (the “Bylaws”), and the forms of warrant certificates relating to each of the $3.30 Warrants
and the $3.57 Warrants, copies of which are referenced as exhibits to our Annual Report on Form 10-K for the year ended December
31, 2019, as well as the provisions of the Nevada Revised Statutes.

 

Common Stock

 

Subject to the preferential
rights of any outstanding preferred stock, each holder of Common Stock is entitled to receive ratable dividends, if any, as may
be declared by our board of directors out of funds legally available for the payment of dividends. No dividends on Common Stock
have been declared or paid by the Company. The Company intends to employ all available funds for the development of its business
and, accordingly, does not intend to pay any cash dividends in the foreseeable future.

 

Holders of Common Stock
are entitled to one vote for each share held of record. There are no cumulative voting rights in the election of directors. Thus,
the holders of more than 50% of the outstanding shares of Common Stock can elect all of our directors if they choose to do so.

 

The holders of our Common
Stock have no preemptive, subscription, conversion or redemption rights. There are no sinking fund provisions applicable to the
Common Stock. Upon our liquidation, dissolution or winding-up, the holders of our Common Stock are entitled to receive our assets
pro rata.

 

$3.30 Warrants

 

The $3.30 Warrants were
exercisable at an exercise price of $3.30 per share of Common Stock, subject to certain adjustments. The $3.30 Warrants were exercisable
on or after February 25, 2010 and expired on February 24, 2015. As of December 31, 2019, there were no $3.30 Warrants outstanding.

 

$3.57 Warrants

 

The $3.57 Warrants are
exercisable at an exercise price of $3.57 per share of Common Stock, subject to adjustment as described below. The $3.57 Warrants
were exercisable upon issuance and expire on July 29, 2020. Each $3.57 Warrant will have a cashless exercise right in the event
that the shares of Common Stock underlying such warrants are not covered by an effective registration statement at the time of
such exercise.

 

The $3.57 Warrants provide
that the exercise price is subject to adjustment from time to time if we (i) pay a stock dividend or otherwise make a distribution
or distributions on shares of Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock,
(ii) subdivide outstanding shares of Common Stock into a larger number of shares, (iii) combine (including by way of reverse stock
split) outstanding shares of Common Stock into a smaller number of shares or (iv) issue by reclassification of shares of Common
Stock any shares of our capital stock.

 

As of December 31, 2019,
the Company had 894,439 $3.57 Warrants outstanding.

 

Nevada Anti-Takeover Law and Charter
and Bylaws Provisions

 

Nevada Revised Statutes
sections 78.378 to 78.3793 provide state regulation over the acquisition of a controlling interest in certain Nevada corporations
unless the articles of incorporation or bylaws of the corporation provide that the provisions of these sections do not apply. This
statute currently does not apply to our Company because in order to be applicable, we would need to have a specified number of
Nevada residents as shareholders, and we would have to do business in Nevada directly or through an affiliate.

 

     

     

    

 

In addition, the Charter
and Bylaws contain provisions that may make the acquisition of our company more difficult, including, but not limited to, the following:

 

		·	requiring at least 75% of outstanding voting stock in order to call a special meeting of stockholders;

 

		·	not allowing stockholders to take action by written consent in lieu of a meeting;

 

		·	setting forth specific procedures regarding how our stockholders may present proposals or nominate
directors for election at stockholder meetings;

 

		·	requiring advance notice and duration of ownership requirements for stockholder proposals;

 

		·	permitting our board of directors to issue preferred stock without stockholder approval; and

 

		·	limiting the rights of stockholders to amend our bylaws.

 

Transfer Agent and Registrar for Common
Stock 

 

The transfer agent and
registrar for our Common Stock is Continental Stock Transfer & Trust Company, Attn: Corporate Actions Department, 1 State Street,
30th Floor, New York, New York 10004-1561.

 

NASDAQ Capital Market 

 

Our Common Stock and
the $3.57 Warrants are currently traded on the Nasdaq Capital Market under the symbols “CYRX” and “CYRXW”,
respectively.Exhibit 4.4

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 
 OF THE SECURITIES EXCHANGE ACT OF 1934

 

As of December 31, 2019, Catabasis Pharmaceuticals, Inc. (“we”, “us” or the “Company”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”):  our common stock, $0.001 par value per share.

 

The following description of our capital stock is intended as a summary only and therefore is not a complete description of our capital stock. This description is based upon, and is qualified by reference to, our certificate of incorporation, our by-laws and applicable provisions of Delaware corporate law. You should read our certificate of incorporation and by-laws, which are filed as exhibits to the Annual Report on Form 10-K of which this exhibit is a part, for the provisions that are important to you.

 

Our authorized capital stock consists of 150,000,000 shares of common stock, $0.001 par value per share, and 5,000,000 shares of preferred stock, $0.001 par value per share.

 

Common Stock

 

Voting Rights.    Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders, except that unless otherwise required by law, holders of our common stock are not entitled to vote on any amendment to the certificate of incorporation that relates solely to the terms of one or more outstanding series of preferred stock, if the holders of such affected series are entitled, either separately or together as a class with the holders of one or more such other series, to vote thereon pursuant to the certificate of incorporation. Holders of our common stock do not have cumulative voting rights.

 

An election of directors will be decided by a plurality of the votes cast by the stockholders entitled to vote on the election at a duly held stockholders’ meeting at which a quorum is present. All other questions will be decided by a majority of the votes cast by stockholders entitled to vote thereon at a duly held meeting of stockholders at which a quorum is present, except when a different vote is required by law, our certificate of incorporation or by-laws.

 

Dividends.    Holders of common stock are entitled to receive proportionately any dividends as may be declared by our board of directors, subject to any preferential dividend or other rights of any series of preferred stock that we may designate and issue in the future.

 

Liquidation and Dissolution.    In the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately our net assets available for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock.

 

Other Rights.    Holders of common stock have no preemptive, subscription, redemption or conversion rights. The rights, 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 we may designate and issue in the future.

 

 

Effects of Authorized but Unissued Stock

 

Our authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing requirements of the Nasdaq Global Market. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make it more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise. In addition, if we issue preferred stock, the issuance could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation.

 

Provisions of Our Certificate of Incorporation and By-laws and Delaware Law That May Have Anti-Takeover Effects

 

Delaware law, our certificate of incorporation and our by-laws contain provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors.

 

Staggered Board; Removal of Directors.    Our certificate of incorporation and by-laws divide our board of directors into three classes with staggered three-year terms. In addition, a director is only able to be removed for cause and only by the affirmative vote of the holders of at least 75% of the votes that all of our stockholders would be entitled to cast in an annual election of directors. Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, is only able to be filled by vote of a majority of our directors then in office. The classification of our board of directors and the limitations on the removal of directors and filling of vacancies could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of our company.

 

Stockholder Action by Written Consent; Special Meetings.    Our certificate of incorporation provides that any action required or permitted to be taken by our stockholders must be effected at a duly called annual or special meeting of our stockholders and may not be effected by any consent in writing by our stockholders. Our certificate of incorporation and by-laws also provide that, except as otherwise required by law, special meetings of our stockholders can only be called by our chairman of the board, our chief executive officer or our board of directors.

 

Advance Notice Requirements for Stockholder Proposals.    Our by-laws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders, including proposed nominations of

 

 

persons for election to our board of directors. Stockholders at an annual meeting are only able to consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of our board of directors or by a stockholder of record on the record date for the meeting who is entitled to vote at the meeting and who has delivered timely written notice in proper form to our secretary of the stockholder’s intention to bring such business before the meeting. These provisions could have the effect of delaying until the next stockholder meeting stockholder actions that are favored by the holders of a majority of our outstanding voting securities.

 

Delaware Business Combination Statute.    We are subject to Section 203 of the General Corporation Law of the State of Delaware. Subject to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the approval of our board of directors or unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger or consolidation involving us and the “interested stockholder” and the sale of more than 10% of our assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.

 

Amendment of Certificate of Incorporation and By-laws.    The General Corporation Law of the State of Delaware provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or by-laws, unless a corporation’s certificate of incorporation or by-laws, as the case may be, requires a greater percentage. Our by-laws may be amended or repealed by a majority vote of our board of affirmative vote of the holders of at least 75% of the votes that all of our stockholders would be entitled to cast in any annual election of directors. In addition, the affirmative vote of the holders of at least 75% of the votes that all of our stockholders would be entitled to cast in any annual election of directors is required to amend or repeal or to adopt any provisions inconsistent with any of the provisions of our certificate of incorporation described above under “—Staggered Board; Removal of Directors” and “—Stockholder Action by Written Consent; Special Meetings.”

 

Exclusive Forum Selection.    Our certificate of incorporation provides that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) shall be the sole and exclusive forum for (1) any derivative action or proceeding brought on behalf of our company, (2) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or employees to our company or our stockholders, (3) any action asserting a claim against our company arising pursuant to any provision of the General Corporation Law of the State of Delaware or our certificate of incorporation or by-laws, or (4) any action asserting a claim against our company governed by the internal affairs doctrine. Although our certificate of incorporation contains the choice of forum provision described above, it is possible that a court could rule that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable.

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