Document:

nviv_Ex4_1

		
			Exhibit 4.1
		

		
			 
		

		
			DESCRIPTION OF SECURITIES REGISTERED UNDER SECTION 12 OF THE EXCHANGE ACT
		

		
			The following description of registered securities of InVivo Therapeutics Holdings Corp. (“us,” “our,” “we” or the “Company”) is intended as a summary only and therefore is not a complete description. This description is based upon, and is qualified by reference to, our articles of incorporation, as amended, our amended and restated bylaws and applicable provisions of the Nevada Revised Statutes (the “NRS”). You should read our articles of incorporation, as amended, and amended and restated bylaws, which are incorporated by reference as Exhibits 3.1, 3.3, 3.4, 3.5 and 3.6 and Exhibit 3.2, respectively, to the Annual Report on Form 10-K of which this Exhibit 4.1 is a part, for the provisions that are important to you.
		

		
			Authorized Capital Stock
		

		
			Our authorized capital stock consists of 16,666,667 shares of common stock, par value $0.00001 per share.  Our common stock is registered under Section 12(b) of the Exchange Act.
		

		
			Common Stock
		

		
			Voting Rights.  The holders of common stock are entitled to one vote per share on all matters submitted to a vote of the stockholders, including the election of directors. Generally, all matters to be voted on by stockholders must be approved by a majority (or, in the case of election of directors, by a plurality) of the votes entitled to be cast by all shares of common stock that are present in person or represented by proxy. Except as otherwise provided by law, amendments to our articles of incorporation generally must be approved by a majority of the votes entitled to be cast by all outstanding shares of common stock. Our articles of incorporation do not provide for cumulative voting in the election of directors.
		

		
			Dividends.  Except as provided by law or in our articles of incorporation, the holders of common stock will be entitled to such cash dividends as may be declared from time to time by our board of directors from funds available.
		

		
			Liquidation, Dissolution and Winding Up.  Upon liquidation, dissolution or winding up of the Company, the holders of common stock will be entitled to receive pro rata all assets available for distribution to such holders after payment of our liabilities.
		

		
			Other Rights.  The holders of common stock have no preferential or preemptive right and no subscription, redemption or conversion privileges with respect to the issuance of additional shares of our common stock.  
		

		
			Provisions of Our Articles of Incorporation and Bylaws and the NRS That May Have Anti-Takeover Effects
		

		
			Anti-Takeover Effects of Provisions of Nevada State Law
		

		
			We may be or in the future we may become subject to Nevada's control share laws. A corporation is subject to Nevada's control share law if it has more than 200 stockholders, at least 100 of whom are stockholders of record and residents of Nevada, and if the corporation does business in Nevada, including through an affiliated corporation. This control share law may have the effect of discouraging corporate takeovers. We currently have less than 100 stockholders of record who are residents of Nevada.
		

		
			The control share law focuses on the acquisition of a "controlling interest," which means the ownership of outstanding voting shares that would be sufficient, but for the operation of the control share law, to enable the acquiring person to exercise the following proportions of the voting power of the corporation in the election of directors: (1) one-fifth or more but less than one-third; (2) one-third or more but less than a majority; or (3) a majority or more. The ability to exercise this voting power may be direct or indirect, as well as individual or in association with others.
		

		
			The effect of the control share law is that an acquiring person, and those acting in association with that person, will obtain only such voting rights in the control shares as are conferred by a resolution of the stockholders of the corporation, approved at a special or annual meeting of stockholders. The control share law contemplates that voting rights will be considered only once by the other stockholders. Thus, there is no authority to take away voting rights from the control shares of an acquiring person once those rights have been approved. If the stockholders do not grant voting rights to the control shares acquired by an acquiring person, those shares do not become permanent non-voting shares. The acquiring person is free to sell the shares to others. If the buyer or buyers of those shares themselves do not acquire a controlling interest, the shares are not governed by the control share law.
		

		
			If control shares are accorded full voting rights and the acquiring person has acquired control shares with a majority or more of the voting power, a stockholder of record, other than the acquiring person, who did not vote in favor of approval of voting rights, is entitled to demand fair value for such stockholder's shares.
		

		
			In addition to the control share law, Nevada has a business combination law, which prohibits certain business combinations between Nevada corporations and "interested stockholders" for two years after the interested stockholder first becomes an interested stockholder, unless the corporation's board of directors approves the combination in advance. For purposes of Nevada 

		 

law, an interested stockholder is any person who is: (a) the beneficial owner, directly or indirectly, of 10% or more of the voting power of the outstanding voting shares of the corporation, or (b) an affiliate or associate of the corporation and at any time within the previous two years was the beneficial owner, directly or indirectly, of 10% or more of the voting power of the then-outstanding shares of the corporation. The definition of "business combination" contained in the statute is sufficiently broad to cover virtually any kind of transaction that would allow a potential acquirer to use the corporation's assets to finance the acquisition or otherwise to benefit its own interests rather than the interests of the corporation and its other stockholders.
		

		
			The effect of Nevada's business combination law is to potentially discourage parties interested in taking control of the Company from doing so if it cannot obtain the approval of our board of directors.
		

		
			Anti-Takeover Effects of Provisions of Our Articles of Incorporation and Bylaws
		

		
			Our articles of incorporation provide for a classified board of directors. This provision could prevent a party who acquires control of a majority of our outstanding common stock from obtaining control of the board until our second annual stockholders meeting following the date the acquirer obtains the controlling stock interest. The classified board provision could have the effect of discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of us and could increase the likelihood that incumbent directors will retain their positions. In addition, under our amended and restated bylaws, directors may be removed only for cause and only by the affirmative vote of the holders of at least 80% of the voting power of our then outstanding shares of capital stock entitled to vote generally in the election of directors, voting together as a single class.
		

		
			Our amended and restated bylaws also provide that stockholders may only act at meetings of stockholders and not by written consent in lieu of a stockholders' meeting. Our amended and restated bylaws provide that stockholders may not call a special meeting of stockholders. Rather, only the Chairman of our board of directors, the President, or the board of directors pursuant to a resolution approved by a majority of the entire board of directors are able to call special meetings of stockholders. These provisions may discourage another person or entity from making a tender offer, even if it acquired a majority of our outstanding voting stock, because the person or entity could only take action at a duly called stockholders' meeting relating to the business specified in the notice of meeting and not by written consent.
		

		
			Our amended and restated bylaws also provide that stockholders may only conduct business at special meetings of stockholders that was specified in the notice of the meeting, and a stockholder must notify us in writing, within timeframes specified in our bylaws, of any stockholder nomination of a director and of any other business that the stockholders intends to bring at a meeting of stockholders. Our amended and restated bylaws also provide that our bylaws may be amended by our board of directors or by the affirmative vote of at least 80% of our voting stock then outstanding. These provisions could have the effect of discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of us because the foregoing provisions may limit the proposals that may be acted upon at a stockholders’ meeting, and the amendment provisions in our bylaws make such provisions difficult to change.nviv_Ex4_2

		
			Exhibit 4.2
		

		
			 
		

			
					
						

					
					
						NE VADA

					
						SEAL

					
						CORPORATE

					
						InVivo Therapeutics Holdings Corp.

					
						TRANSFER AGENT AND REGISTRAR

					
						AUTHORIZED OFFICER

					
						CONTINENTAL STOCK TRANSFER & TRUST COMPANY

					
						(New York, NY)

					
						COUNTERSIGNED AND REGISTERED:

					
						BY:

					
						CHIEF EXECUTIVE OFFICER

					
						transferable on the books of the Corporation by the holder hereof in person or by duly authorized attorney upon surrender of this certificate properly

					
						endorsed. This certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

					
						WITNESS the facsimile seal of the Corporation and the facsimile signature of its duly authorized officer.

					
						Dated:

					
						InVivo Therapeutics Holdings Corp.

					
						FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK, $.00001 PAR VALUE, OF

					
						is the owner of

					
						This Certifies that

					
						INCORPORATED UNDER THE LAWS OF THE STATE OF NEVADA CUSIP 46186M 50 6

					
						InVivo Therapeutics Holdings Corp.

					
						IVT

					
						SEE REVERSE FOR CERTAIN DEFINITIONS

					
						ABnote North America

					
						711 ARMSTRONG LANE, COLUMBIA, TN 38401

					
						(931) 388-3003

					
						SALES: HOLLY GRONER 931-490-7660

					
						PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE CHANGES AND SEND ANOTHER PROOF

					
						COLORS SELECTED FOR PRINTING: INTAGLIO PRINTS IN SC-7 DARK BLUE. LOGO PRINTS IN PMS 662 BLUE AND PMS 485 RED.

					
						NEW

					
						WO - 20000058 FACE OPERATOR: DKS

					
						INVIVO THERAPEUTICS HOLDINGS CORP.

					
						PROOF OF: FEBRUARY 3, 2020

					
						Security-columbian united states banknote company 1960

				

		
			 
		

		
			 
		

		

		 

	
					
						

					
						 

					
					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

					
						 

				
	
					
						

					
					
						THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,

					
						STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN

					
						APPROVED MEDALLION SIGNATURE GUARANTEE PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

					
						By

					
						Signature(s) Guaranteed

					
						THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE

					
						FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY

					
						CHANGE WHATEVER.

					
						NOTICE:

					
						XX

					
						Dated

					
						to transfer the said stock on the books of the within named Corporation with full power of substitution in the premises.

					
						Attorney

					
						of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

					
						Shares

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

					
						PLEASE INSERT SOCIAL SECURITY OR OTHER

					
						IDENTIFYING NUMBER OF ASSIGNEE

					
						FOR VALUE RECEIVED, hereby sell, assign and transfer unto

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

					
						UNIF GIFT MIN ACT — ......................... Custodian .........................

					
						(Cust) (Minor)

					
						under Uniform Gifts to Minors

					
						Act ..............................................................

					
						(State)

					
						UNIF TRF MIN ACT — ................. Custodian (until age ................)

					
						(Cust)

					
						............................ under Uniform Transfers

					
						(Minor)

					
						to Minors Act ..............................................

					
						(State)

					
						TEN COM — as tenants in common

					
						TEN ENT — as tenants by the entireties

					
						JT TEN — as joint tenants with right of

					
						survivorship and not as tenants

					
						in common

					
						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:

					
						The Corporation will furnish to any stockholder, upon request and without charge, a statement of the powers, designations, preferences,

					
						and relative participating, optional or other special rights of each class of stock or series thereof and the qualifications, limitations or

					
						restrictions of such preferences and/or rights, insofar as the same shall have been fixed, and of the authority of the Board of Directors to

					
						designate any preferences, rights and limitations of any wholly unissued series. Any such request should be directed to the Secretary of the

					
						Corporation at the principal office of the Corporation.

					
						PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF: OK AS IS OK WITH CHANGES MAKE CHANGES AND SEND ANOTHER PROOF

					
						ABnote North America

					
						711 ARMSTRONG LANE, COLUMBIA, TN 38401

					
						(931) 388-3003

					
						SALES: HOLLY GRONER 931-490-7660 NEW

					
						WO - 20000058 BACK OPERATOR: DKS

					
						INVIVO THERAPEUTICS HOLDINGS CORP.

					
						PROOF OF: FEBRUARY 3, 2020

					
						NO CHANGES TO BACK SHOWN FOR PROOF ONLY

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00304-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00304-of-00352.parquet"}]]