Document:

mosy-ex1030_7.htm

 

Exhibit 10.30

AMENDMENT NO. 2

TO

10% SENIOR SECURED CONVERTIBLE NOTE PURCHASE AGREEMENT 
AND EVERY

10% SENIOR SECURED CONVERTIBLE NOTE

DUE AUGUST 15, 2018 ISSUED THEREUNDER

MoSys, Inc., a Delaware corporation (the “Company”), Ingalls & Snyder LLC as agent (“Purchasers’ Agent”) for all Purchasers of Notes pursuant to the 10% Senior Secured Convertible Note Purchase Agreement dated as of March 14, 2016 (the “Agreement”), and Ingalls & Snyder Value Partners, L.P., the Holder of the Majority-in-Interest of the Notes, which were amended as of February 18, 2018, agree to amend the Agreement and the Notes further as provided in this instrument (this “Amendment”).

On September 13, 2018, the Company entered into a Memorandum of Understanding for Modification of the Notes (the “MOU”) with the purchasers’ agent and the holder of a majority-in-interest of such notes under the Purchase Agreement, which provided that the total amount of indebtedness outstanding under the Notes and the Purchase Agreement is fixed at $10,036,141; the Company will use one-half of the gross proceeds from the offering described in the prospectus contained in the Company’s registration statement on Form S-1, registration number 333-225193 (the “Offering”) on the closing date of the Offering to repay a portion of indebtedness subject to the Notes, and the Holders of the Notes will be purchasing simultaneously at the closing of the Offering an amount of the common units and/or pre-funded units being offered by us with a total purchase price equal to one-third of the gross proceeds of the offering (including the amount so invested by holders); the Agreement and the Notes will be amended to provide that the remaining balance of any indebtedness subject to the Notes will be due August 15, 2023; and the conversion price of the Notes will be reduced from $4.25 per share to 115% of the price of a common stock unit sold in the Offering, or if Nasdaq Listing Rule 5635(d) is applicable to this Amendment specified in this paragraph 3, to a price equal to the greater of (x) market value on the date of such amendment and (y) book value per share of common stock, as such italicized terms are defined for purposes of such Listing Rule.  

 

Pursuant to Sections 11.1 and 12.4 of the Agreement, this Amendment is signed by Purchasers’ Agent for and on behalf of all Purchasers and Holders of Notes, and is effective and binding on all Purchasers and Holders as of October 2, 2018.

 

All capitalized terms defined in the Purchase Agreement have the same meanings when used in this Amendment.

A.        The following provisions of the Agreement and/or the Notes are amended as of October 2, 2018 to read as set forth below:

Under DEFINITIONS, Section 1 of the Agreement,

 1.20 “Maturity Date” means August 15, 2023;

 

4839-5300-4405.v1

 

 

Because Nasdaq Listing Rule 5635(d) applies to this Amendment, under OPTIONAL CONVERSION, Paragraph 7, of each of the Notes,

A. The Holder, at the Holder’s sole option, may convert the principal amount of this Note (or any portion thereof equal to $100,000 or any integral multiple of $100,000 in excess thereof) into Shares, and/or such other consideration as provided in Section 4 of the Purchase Agreement, at any time prior to the close of business on the last Business Day prior to the Maturity Date, at the Applicable Conversion Price (which is the Conversion Price as adjusted from time to time in accordance with the Purchase Agreement) in effect on the Conversion Date; provided, however, that if such Note is submitted or presented for purchase pursuant to Section 3.1 of the Purchase Agreement, such conversion right shall terminate at the close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date for such Note, or such earlier date as the Holder presents such Note for repurchase (unless the Company shall default in making the Fundamental Change Repurchase Price payment when due, as the case may be, in which case the conversion right shall terminate at the close of business on the date such default is cured and such Note is redeemed or purchased as the case may be).  The Conversion Price is $0.5717 per Share, and the Conversion Rate is one Share per $0.5717 principal amount of Note.  The Conversion Price and the Conversion Rate are subject to adjustment as provided in the Purchase Agreement.  All accrued and unpaid interest on the Note through the Business Day immediately preceding the Conversion Date shall be paid in accordance with Paragraph 2, provided that if the Company elected to pay the interest with the issuance of a new Note thereof, the full amount thereof shall be converted into additional Shares as Note principal. Upon surrender of this Note for conversion and timely delivery to the Company of the Holder’s conversion notice (which may be submitted on Holder’s behalf by Purchaser’s Agent), the Company will issue, or will cause its transfer agent to issue, the Shares to the Holder on the requested Conversion Date. No fractional Shares will be issued upon conversion; in lieu thereof, an amount will be paid in cash based upon the Closing Sale Price of the Common Stock on the Trading Day immediately prior to the Conversion Date. The Shares when issued may be represented by book entry, or by certificates if so requested by Holder.

B.        Purchasers’ Agent and the Holder of the Majority-in-Interest of the Notes agree that neither they nor any other Holder of a Note will  purchase securities in the Offering or acquire shares of common stock of the Company, including currently exercisable rights to acquire such stock if that will cause any such Holder, or any group of which the Holder is a part, have beneficial ownership of more than 19.9% of the number of shares of common stock of the 

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4839-5300-4405.v1

 

Company outstanding as of the date of this Amendment. For purposes of this paragraph B., the existence of a “group” and “beneficial ownership” shall be determined in accordance with the provisions of SEC Rule 13d-3 and Rule 13d-5. 

C.        All provisions of the Agreement and the Notes as amended through the date immediately preceding the date of this Amendment shall remain in effect as written, except as modified by this Amendment.  The provisions of Section 12 of the Agreement (12.1-12.10) are incorporated by reference into this Amendment. 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered as of the day and year first above written.

 

	
COMPANY:
	
 
	
MOSYS, INC.

 

 

	
 
	
 
	
By:
	
 
	
/s/ James Sullivan

	
 
	
 
	
Name:
	
 
	
James Sullivan

	
 
	
 
	
Title:
	
 
	
CFO

	
 
	
 
	
 
	
 
	
 

	
PURCHASERS’ AGENT:
	
INGALLS & SNYDER LLC

 

 

	
 
	
 
	
By:
	
 
	
/s/ Thomas O. Boucher Jr

	
 
	
 
	
Name:
	
 
	
Thomas O. Boucher Jr

	
 
	
 
	
Title:
	
 
	
Ingalls & Snyder LLC Manager

	
 
	
 
	
 
	
 
	
 

	
HOLDER(S) OF A MAJORITY-IN-INTEREST OF THE NOTES
	
Per attached counterpart Holder signature page(s)

 

 

 

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4839-5300-4405.v1

 

 

MoSys, Inc.

Amendment No. 2 to 10% Senior Secured Convertible Note Purchase Agreement

And every 10% Senior Secured Convertible Note

Due August 15, 2018 Issued Thereunder

 

Holder Signature Page

The undersigned Holder(s) of a Majority-in-Interest of the Notes hereby execute(s) this Amendment as of the Effective Date specified therein and agree(s) to be bound by the same. 

Instructions:  Please sign where indicated below and complete the information requested as the bottom of the page regarding your investment.

 

	
(Individual Holders sign below)
	
 
	
(Entities sign below)

	
 
	
 
	
 

	
 
	
 
	
 
	
Exact Legal Name
	
 

	
 
	
 
	
of Entity:
	
Ingalls & Snyder Value Partners LP

	
Print Holder’s name below:
	
 
	
 
	
 

	
 
	
 
	
By:
	
Thomas O. Boucher Jr.

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
Print name of authorized signature below:

	
 
	
 
	
 
	
 

Thomas O. Boucher Jr.

	
 
	
 
	
 
	
 

Title:
	
 

Ingalls & Snyder Value Partners, LP General Partner

	
Address to which
	
 
	
 
	
 
	
 

	
notices may be sent
	
 
	
 
	
Address to which
	
 

	
to Holder:
	
 
	
 
	
notices may be sent
	
 

	
 
	
 
	
 
	
to Holder:
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
Email:
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
Email:
	
 

	
 
	
 
	
 
	
Tax ID Number:
	
 

 

 

 

 

4839-5300-4405.v1Exhibit 10.1

 

Exhibit 10.1

 

 MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

This MEMBERSHIP INTEREST PURCHASE AGREEMENT
dated as of September 24, 2018 (this
“Agreement”), by and among ICO Liquidating Trust, LLC,
a Delaware limited liability company (“ICO” and
“Seller”), Petro River Oil Corp., a Delaware
corporation (“Petro River” and Buyer”), and LBE
Partners, LLC, a Delaware limited liability company (the
“Company”).

 

WHEREAS,
Seller owns 66.67% of the membership interests in the Company
(the “ICO Membership Interest”).

 

WHEREAS,
Buyer desires to purchase from Seller and Seller desires to sell to
Buyer the ICO Membership Interest on the terms and subject to the
conditions set forth herein.

 

NOW,
THEREFORE, the parties agree as follows:

 

1. Purchase and Sale of ICO
Membership Interest.

 

1.1
Sale and Purchase. At the Closing, Buyer shall purchase from
Seller and Seller shall sell to Buyer the ICO Membership Interest
for 300,000 shares of common stock, par value $0.0001 of the Seller
(having a value of $250,000) (the “Petro River Stock”)
subject to the terms and conditions of this Agreement and on the
basis of the representations, warranties, covenants and agreements
contained herein (the "Sale and Purchase").

 

1.2
Terms of Payment. The Seller shall deliver the Petro River
Stock within 5 business days of the Closing.

 

1.3
Closing. The Sale and Purchase shall take place at 10:00 AM on
the date hereof at the corporate office of Buyer, which time and
place are designated as the "Closing."

 

1.4 Deliveries at Closing. At the Closing,
the parties shall execute and deliver an Assignment and Assumption
Agreement substantially in the form attached as Exhibit A
hereto and such other documents as are
customary and reasonably necessary to consummate the transactions
contemplated hereby including but not limited all financial
documents, bank accounts and bank statements, corporate documents
and any other items reasonably requested by
Buyer.

 

1.5
Consent by Company. The Company hereby consents to the sale and
purchase of the ICO Membership Interest set forth in this
Agreement.

 

2. Representations and Warranties
of Seller. Seller hereby represents and warrants as
follows:

 

2.1 Organization and Qualification. Seller is
a limited liability company duly organized and validly existing
under the laws of the State of Delaware.
Seller has all requisite power and authority to carry on its
business as currently conducted. Seller is duly qualified to
transact business.

 

 

 

 

 

 

 

2.3
Authorization. As of the Closing, all action on the part of
Seller, its officers, directors and existing members necessary for
the authorization, execution and delivery of this Agreement and the
performance of all obligations of Seller hereunder shall have been
taken, and this Agreement, assuming due execution by the parties
hereto, will constitute a valid and legally binding obligation of
Seller, enforceable in accordance with its respective
terms.

 

3. Representations and Warranties
of Buyer. Buyer hereby represents and warrants
that:

 

3.1
Investment. Buyer is acquiring the Membership Interests for
investment for its own account and not with the view to, or for
resale in connection with, any distribution thereof.

 

3.2
Authorization. As of the Closing, all action on the part of
Buyer and its respective officers and directors necessary for the
authorization, execution and delivery of this Agreement and the
performance of all obligations of Buyer hereunder shall have been
taken.

 

4. Miscellaneous.

 

4.1 Governing Law. This Agreement shall be
governed in all respects by the laws of the State
of New
York, without regard to any
provisions thereof relating to conflicts of laws among different
jurisdictions.

 

 

 

ALL SIGNATURES ON FOLLOWING PAGE

 

	
 

	
 

 

 

 

 

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the
October 2, 2018.

 

 

	

ICO LIQUIDATING TRUST, LLC

	
 

	

PETRO RIVER OIL CORP.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

By:

	

 /s/ Scot Cohen

	
 

	

By:

	

 /s/ Stephen
Brunner

	
 

	
 

	

Scot Cohen, Manager

	
 

	
 

	

Stephen Brunner, President

 

	
 

 

 LBE
Partners, LLC

 

 

	

By:

	

 /s/ Scot Cohen

	
 

	
 

	
 

	
 

	

Scot Cohen, Manager

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