Document:

boninc8kex101010912.htm

Exhibit 10.1

SERIES A PREFERRED STOCK PURCHASE AGREEMENT

This Series A Preferred Stock Purchase Agreement (this “Agreement”) dated as of December 31, 2011, is entered into by and between Bon Amour International, LLC, a Texas limited liability company (“Purchaser”) and Bonamour, Inc, a Colorado corporation (“Company”).

 

WHEREAS, Purchaser desire to purchase from the Company, and the Company desires to issue and sell to Purchaser, 5,000,000 shares (the “Shares”) of the Company’s Series A Preferred Stock, no par value (the “Preferred Stock”), on the terms and conditions set forth in this Agreement.

 

NOW THEREFORE, in consideration of the promises and respective mutual agreements herein contained, it is agreed by and between the parties hereto as follows.

 

ARTICLE 1

SALE AND PURCHASE OF THE SHARES

1.1 Sale of the Shares. Subject to the terms and conditions herein set forth, on the basis of the representations, warranties and agreements herein contained, at the Closing (defined below) on the date hereof, Company hereby issues, sells, assigns, transfers and delivers the Shares to Purchaser, and Purchaser hereby purchases the Shares from the Company.

 

1.2 The Closing. The purchase of the Shares shall take place at the office of the Company or such other place as Purchaser and Company may mutually agree contemporaneous with the execution hereof “Closing Date”.

 

1.3 Delivery of Certificates. At the Closing, the Company shall deliver one or more certificates representing the Shares to Purchaser in form and substance satisfactory to Purchaser (“Certificates”), as shall be effective to vest in Purchaser all right, title and interest in and to all of the Shares.

 

1.4 Consideration and Payment for the Shares. In consideration for the Shares, Purchaser shall forgive and discharge obligations of the Company to repay loans in the aggregate amount of $210,000 advanced by Purchaser on behalf of the Company (the “Purchase Price”).

ARTICLE 2

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

The Company represents, warrants and undertakes to the Purchaser that:

2.1 Due Organization. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Colorado (a) with full power and authority to own, lease, use, and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted. The Company has no subsidiaries. The Company is not qualified to conduct business in any jurisdiction other than the States of Colorado and Texas, and (b) all actions taken by the current directors and stockholders of the Company have been valid and in accordance with the laws of the State of Colorado and all actions taken by the Company have been duly authorized by the current directors and stockholders of the Company as appropriate.

2.2 Company Authority. The Company has all requisite corporate power and authority to enter into and perform this Agreement and to consummate the transactions contemplated herein.

 

 

  

  

  

2.3 Due Authorization. The execution, delivery and performance by the Company of this Agreement has been duly and validly authorized and no further consent or authorization of the Company, its Board of Directors or its stockholders is required.

2.4 Valid Execution. This Agreement has been duly executed and delivered by the Company.

2.5 Binding Agreement. This Agreement constitutes, and upon execution and delivery thereof by the Company, will constitute, a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency or similar laws affecting creditor’s rights generally or the availability of equitable remedies.

2.6 No Violation of Corporate Documents or Agreements. The execution and delivery of this Agreement by the Company and the performance by the parties hereto of its obligations hereunder will not cause, constitute, or conflict with or result in (i) any breach or violation, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss of a material benefit under, or to increased, additional, accelerated or guaranteed rights or entitlements of any person under any of the provisions of, or constitute a default under, any license, indenture, mortgage, charter, instrument, certificate of incorporation, bylaw, judgment, order, decision, writ, injunction, or decree or other agreement or instrument or proceeding to which the Company or its stockholders are a party, or by which they may be bound, nor will any consents or authorizations of any party other than those hereto by required, (ii) an event that would cause the Company to be liable to any party, or (iii) an event that would result in the creation or imposition or any lien, charge or encumbrance on any asset of the Company or on the securities of the Company to be acquired by the Purchaser.

2.7 Authorized Capital, No Preemptive Rights, No Liens. As of the date hereof, the authorized capital of the Company is 525,000,000 shares, of which 500,000,000 are Common Stock, with no par value and of which 25,000,000 are Preferred Stock with no par value, 10,000,000 of which have been designated as Series A Preferred Stock. No shares of capital stock of the Company are subject to preemptive rights or similar rights of the stockholders of the Company or any liens or encumbrances imposed through the actions or failure to act of the Company, or otherwise. The Company has furnished to Purchaser true and correct copies of the Company’s Articles of Incorporation and Bylaws.

2.8 No Governmental Action Required. Except for the SEC reports pertaining to the transactions consummated hereunder (i.e., a Form 8-K, Forms 3 and/or 4), the execution and delivery by the Company of this Agreement does not and will not, and the consummation of the transactions contemplated hereby will not, require any action by or in respect of, or filing with, any governmental body, agency or governmental official.

2.9 Compliance with Applicable Law and Corporate Documents. The execution and delivery by the Company of this Agreement and the performance by the parties hereto of the transactions contemplated hereby does not and will not contravene or constitute a default under or violation of (i) any provision of applicable law or regulation, (ii) the Company’s Articles of Incorporation or Bylaws, or (iii) any agreement, judgment, injunction, order, decree or other instrument binding upon the Company or any its assets, or result in the creation or imposition of any lien on any asset of the Company. To the best of its knowledge, the Company is in compliance with and conforms to all statutes, laws, ordinances, rules, regulations, orders, restrictions and all other legal requirements of any domestic or foreign government or any instrumentality thereof having jurisdiction over the conduct of its businesses or the ownership of its properties.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF PURCHASER

Purchaser represents and warrants that the following are true and correct as of the date hereof and will be true and correct through the Closing Date as if made on that date:

3.1 Agreement’s Validity. This Agreement has been duly executed and delivered by Purchaser and constitutes a legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally or the availability of equitable remedies.

 

 

  

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3.2 Investment Intent. Purchaser is acquiring the Shares for its own account for investment and not with a view to, or for sale or other disposition in connection with, any distribution of all or any part thereof.

3.3 Restricted Securities. Purchaser understands that the Shares have not been registered pursuant to the Securities Act or any applicable state securities laws, that the Shares will be characterized as “restricted securities” under federal securities laws, and that under such laws and applicable regulations the Shares cannot be sold or otherwise disposed of without registration under the Securities Act or an exemption therefrom.

3.4 Legend. It is agreed and understood by Purchaser that the Certificates representing the Shares shall each conspicuously set forth on the face or back thereof a legend in substantially the following form:

 

	
THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

3.5 Disclosure of Information. Purchaser acknowledges that it has been furnished with information regarding the Company and its business, assets, results of operations, and financial condition to allow Purchaser to make an informed decision regarding an investment in the Shares. Purchaser represents that it has had an opportunity to ask questions of and receive answers from the Company regarding the Company and its business, assets, results of operation, and financial condition.

ARTICLE 4

MISCELLANEOUS

4.1 Entire Agreement. This Agreement sets forth the entire agreement and understanding of the parties hereto with respect to the transactions contemplated hereby, and supersedes all prior agreements, arrangements and understanding related to the subject matter hereof. No understanding, promise, inducement, statement of intention, representation, warranty, covenant or condition, written or oral, express or implied, whether by statute or otherwise, has been made by any party hereto which is not embodied in this Agreement or the written statement, certificates, or other documents delivered pursuant hereto or in connection with the transactions contemplated hereby, and no party hereto shall be bound by or liable for any alleged understanding, promise, inducement, statement, representation, warranty, covenant or condition not set forth.

4.2 Governing Law. This Agreement shall be governed in all respects, including validity, construction, interpretation and effect, by the laws of the State of Texas (without regard to principles of conflicts of law).

4.3 Consent to Jurisdiction. Each party irrevocably submits to the exclusive jurisdiction of the appropriate state or federal court in the State of Texas for the purposes of any suit, action or other proceeding arising out of this Agreement or any transaction contemplated hereby or thereby. Each party agrees to commence any such action, suit or proceeding in Dallas, Texas.

4.4 Counterparts. This Agreement may be executed by the parties hereto in separate counterparts each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

4.5 Binding Effect; No Assignment, No Third-Party Rights. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. This Agreement is not assignable without the prior written consent of each of the parties hereto or by operation of law. This Agreement is for the sole benefit of the parties hereto and their permitted assigns, and nothing herein, expressed or implied, shall give or be construed to give to any person, including any union or any employee or former employee of the Company, any legal or equitable rights, benefits or remedies of any nature whatsoever, including any rights of employment for any specified period, under or by reason of this Agreement.

 

 

  

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4.6 Further Assurances. Each party shall, at the request of the other party, at any time and from time to time following the Closing Date promptly execute and deliver, or cause to be executed and delivered, to such requesting party all such further instruments and take all such further action as may be reasonably necessary or appropriate to carry out the provisions and intents of this Agreement and of the instruments delivered pursuant to this Agreement.

4.7 Severability of Provisions. If any provision or any portion of any provision of this Agreement or the application of any such provision or any portion thereof to any person or circumstance, shall be held invalid or unenforceable, the remaining portion of such provision and the remaining provisions of the Agreement, or the application of such provision or portion of such provision is held invalid or unenforceable to person or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and such provision or portion of any provision as shall have been held invalid or unenforceable shall be deemed limited or modified to the extent necessary to make it valid and enforceable, in no event shall this Agreement be rendered void or unenforceable.

4.8 Captions. All section titles or captions contained in this Agreement or in any schedule or exhibit annexed hereto or referred to herein, and the table of contents to this Agreement, are for convenience only, shall not be deemed a part of this Agreement and shall not affect the meaning or interpretation of this Agreement. All references herein to sections shall be deemed references to such parts of this Agreement, unless the context shall otherwise require.

***Signature Page Follows***

 

 

 

 

 

 

 

 

 

 

  

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement, as of the date first written herein above.

 

 

	 	
BONAMOUR, INC.

	 	 
	 	 
	 	By: /s/ Nathan Halsey                                                                     
	 	
             Nathan Halsey, President

	 	 
	 	 
	 	 
	 	BON AMOUR INTERNATIONAL, LLC
	 	 
	 	 
	 	By: /s/ Nathan Halsey                                                                   
	 	             Nathan Halsey, President and CEO 

 

 

  

5ex101.htm

Exhibit 10.1

 

FOURTH AMENDMENT TO TRANSACTION DOCUMENTS

This FOURTH AMENDMENT TO TRANSACTION DOCUMENTS (this “Amendment”) is made as of the 3rd day of March 2011, by and between URIGEN PHARMACEUTICALS, INC., a Delaware corporation with its principal place of business at 1700 North Broadway, Suite 330, Walnut Creek, CA 94596 (the “Borrower”), Urigen N.A., Inc., a Delaware corporation with its principal place of business at 1700 North Broadway, Suite 330, Walnut Creek, CA 94596 (the “Guarantor”), and PLATINUM-MONTAUR LIFE SCIENCES, LLC, a Delaware limited liability company (the “Lender”).

WHEREAS, the Lender and the Borrower previously entered into a Note Purchase Agreement, dated as of January 9, 2009 (the “Purchase Agreement”), which provided for the issuance to the Lender of a Senior Secured Convertible Promissory Note as set forth therein (the “January 2009 Note”), and the parties have executed certain documents and instruments in connection therewith;

WHEREAS, the Lender issued to the Borrower a series of Senior Secured Convertible Notes pursuant to the Purchase Agreement (the “Prior Notes”);

WHEREAS, the Lender converted its Prior Notes into a series of Convertible Preferred Stock of the Borrower (the “Series C Preferred Stock”) on or about April, 2010;

WHEREAS, on or about August 6, 2010, the Borrower issued to the Lender a $25,000 Promissory Note (the “Bridge Note”);

WHEREAS, the Borrower has failed to make required dividend payments on the Series C Preferred Stock and interest payments on the Bridge Note;

WHEREAS, the Borrower is indebted to the Lender in an amount equal to not less than $461,194.83 as of the date hereof (the “Outstanding Amount”);

WHEREAS, the Borrower has requested that the Lender extend additional credit in the principal amount of $150,000 (the “New Principal”), in substantially the form attached hereto;

WHEREAS, the Lender and the Borrower have agreed that the Outstanding Amount and the New Principal together shall be evidenced by one or more Convertible Promissory Notes (collectively referred to herein as the “Note”) to be issued to the Lender on the date hereof in the aggregate principal amount of $611,194.83 and in accordance with the terms of this Agreement; and

WHEREAS, the parties hereto wish to amend the Transaction Documents, as previously amended, to accomplish the foregoing as is set forth in more detail herein.

NOW, THEREFORE, in consideration of the foregoing and for the covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

 

 

 

 

  

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SECTION ONE

DEFINITIONS; REPRESENTATIONS

 

Section 1.1                      Terms Defined.  Unless otherwise defined herein, capitalized terms used herein shall have the meanings given to such terms in the Purchase Agreement.

 

Section 1.2                      Representations and Warranties of Borrower.  The Borrower and the Guarantor  represent and warrant to the Lender as follows:

(a)           Except as otherwise set forth herein or in the Schedules and Exhibits hereto, the representations and warranties of the Borrower and the Guarantor made in the Transaction Documents remain true, complete and accurate in all material respects, and the covenants of the Borrower and the Guarantor are hereby reaffirmed, as of the date hereof.

(b)           Except as otherwise set forth herein or in the Schedules and Exhibits hereto, the Borrower and the Guarantor has each performed, in all material respects, all obligations to be performed by it to date under the Transaction Documents and no default or Event of Default exists thereunder or an event that with the passage of time or giving of notice or both, would constitute a default or an Event of Default.

(c)           Each of the Borrower and the Guarantor is a corporation duly organized, qualified, and existing in good standing under the laws of the State of Delaware and has full power and authority to consummate the transactions contemplated hereby.  The Borrower and the Guarantor are each duly qualified to do business in all states and other jurisdictions in which the character of the property owned by it or the nature of its activities causes such qualification to be necessary.

(d)           The execution, delivery and performance of this Amendment, the Guaranty (as defined below), the 2011 Warrant (as defined below) and the Note (collectively, the “Amendment Documents”) have been duly authorized by all necessary corporate actions of each of the Borrower and the Guarantor, are within the corporate power of Borrower and the Guarantor and are not in contravention of law, the Borrower’s or the Guarantor’s Articles of Incorporation, By-laws or the terms of any other documents, agreements or undertakings to which the Borrower or the Guarantor is a party or by which the Borrower or the Guarantor is bound.  No approval of any person, corporation, governmental body or other entity is a prerequisite to the execution, delivery and performance by the Borrower and the Guarantor of the Amendment Documents to ensure the validity or enforceability hereof or thereof.

(e)           The Amendment Documents will constitute the legally binding obligation of Borrower and the Guarantor, enforceable in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws now existing or hereafter enacted relating to or affecting the enforcement of creditors’ rights generally, and as enforceability may be subject to limitations based on general principles of equity (regardless of whether such enforceability is considered a proceeding in equity or at law).

 

 

 

  

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SECTION TWO

ISSUANCE OF NOTE; AMENDMENTS

 

Section 2.1                      Issuance of Note and Guaranty.    The Borrower shall, on the date hereof, issue to the Lender the Note in substantially the form attached hereto as Exhibit 2.1A.  The Guarantor has agreed, on the date hereof, to guaranty any and all obligations of the Borrower to the Lender pursuant to a Guaranty substantially in the form attached hereto as Exhibit 2.1B (the “Guaranty”).

Section 2.2                      Warrant Amendment.    In consideration of the Lender’s entry into this Agreement and the extension of credit pursuant to the Note, the Borrower has agreed to extend the term of certain common stock purchase warrants issued to the Lender as set forth in this Section 2.2.

(a)  Section 1 of the Stock Purchase Warrant, dated as of August 1, 2007 (the “2007 Warrant”), is hereby amended and restated to read in its entirety as follows:

1.           Term.         The right to subscribe for and purchase shares of Warrant Stock represented hereby shall commence on August 1, 2007 and shall expire at 5:00 p.m., Eastern Time, on March 3, 2016 (such period being the “Term”).

(b) Section 1 of the Stock Purchase Warrant, dated as of April 19, 2010 (the “2010 Warrant”), is hereby amended and restated to read in its entirety as follows:

1.           Term.         The right to subscribe for and purchase shares of Warrant Stock represented hereby shall commence on April 19, 2010 and shall expire at 5:00 p.m., Eastern Time, on March 3, 2016 (such period being the “Term”).

Section 2.3                      Warrant Issuance.    In consideration of the Lender’s entry into this Agreement and the extension of credit pursuant to the Note, the Borrower has agreed to issue to the Lender the Common Stock Purchase Warrant in substantially the form attached hereto as Exhibit 2.3 (the “2011 Warrant” and together with this Agreement, the Notes and the Collateral Documents, the “Amendment Documents”) to acquire up to 6,111,948 shares of Common Stock at an initial exercise price of $.125 on the terms set forth therein.

Section 2.4                      References in Purchase Agreement.    The parties hereto agree that:

	
(i)  

	
the term “Conversion Shares” in the Purchase Agreement shall be deemed to mean shares of Common Stock issuable and/or issued upon conversion of the Notes or Preferred Stock or exercise of the 2007 Warrant, the 2010 Warrant and the 2011 Warrant;

	
(ii)  

	
the term “Notes” shall be deemed to mean and refer to the Preferred Stock and the Note;

 

	
(iii)  

	
nothing herein shall be deemed to amend (except as set forth expressly in this Section 2.4), release or waive any covenant or other obligation of the Borrower under the Purchase Agreement, all of which shall remain in full force and effect in accordance with the terms thereof; and

	
(iv)  

	
notwithstanding anything to the contrary set forth in the Transaction Documents or the Purchase Agreement, the Lender acknowledges that the Borrower has not complied with its obligations to file periodic and other reports under the Securities Exchange Act of 1934, which non-compliance is hereby waived, for purposes of the Transaction Documents and the Purchase Agreement, through August 25, 2012, but not after such date.

 

 

  

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SECTION THREE

MISCELLANEOUS

Section 3.1                      Transaction Documents.  The Borrower shall deliver the duly and validly executed Amendment Documents to the Lender, and such documents shall be included in the term “Transaction Documents” in the Purchase Agreement and the other Transaction Documents.

Section 3.2                      Future References.  All references to the Purchase Agreement and the other Transaction Documents shall hereinafter refer to such agreement as amended hereby.

Section 3.3                      Continuing Effect.  The provisions of the Transaction Documents, as modified herein, shall remain in full force and effect in accordance with their terms and are hereby ratified and confirmed.  The Lender does not in any way waive the Borrower’s or the Guarantor’s obligations to comply with any of the provisions, covenants and terms of the Purchase Agreement and the other Transaction Documents, nor does the Lender waive any other right the Lender may have at law or in equity.  Without limiting the generality of the foregoing, in no event shall any price or other adjustment that may be triggered by the issuance of the Note or the 2011 Warrant be deemed waived hereunder.

 

Section 3.4                      Expenses.  Borrower agrees, regardless of whether or not the transactions contemplated hereby shall be consummated, to pay all reasonable expenses incurred by the Lender incident to such transactions in the preparation of documentation relating thereto, including all fees and disbursements of the counsel to the Lender, for services to the Lender, which amount may be deducted from the New Principal delivered to the Borrower on closing hereunder.

 

Section 3.5                      General.  Borrower and the Guarantor shall execute and deliver such additional documents and do such other acts as the Lender may reasonably require to implement the intent of this Amendment fully.  This Amendment may be executed in several counterparts by the Borrowers and the Lender, each of which shall be deemed an original but all of which together shall constitute one and the same Amendment.  This Amendment shall be governed by the laws of the State of New York, without regards to the conflict of law provisions thereof.

 

 

 

  

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IN WITNESS WHEREOF, the undersigned have caused this Fourth Amendment to the Transaction Documents to be executed as of the date first above written.

 

	 	BORROWER:	 
	 	 	 
	 	
URIGEN PHARMACEUTICALS, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Martin E. Shmagin  	 
	 	 	Name: Martin E. Shmagin	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 

	 	GUARANTOR:	 
	 	 	 
	 	
URIGEN N.A., INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Martin E. Shmagin  	 
	 	 	Name: Martin E. Shmagin	 
	 	 	Title: Chief Financial Officer	 
	 	 	 	 

	 	LENDER:	 
	 	 	 
	 	PLATINUM-MONTAUR LIFE SCIENCES, LLC	 
	 	 	 	 
	
 

	
By: 

	/s/ Joan Janczewski     	 
	 	 	Name: Joan Janczewski	 
	 	 	Title:  COO	 
	 	 	 	 

  

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            Schedule 1: Liens

The Borrower has disclosed to the Lender the existence of a judgment lien in favor of Artizen, Inc. in the amount of Sixty Four Thousand Nine Hundred Eight Seven Dollars and Forty Six Cents ($64,987.46).

 

 

 

 

 

 

 

 

 

 

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