Document:

Unassociated Document

Exhibit 10.2

 

September 12, 2013

ABC (2013) 3002

Contract for Issuance of Import Letter of Credit

Number: 82040120030001663

 

Dear customer, in order to protect your rights and interests, please carefully read all terms of this contract (especially the terms in bold type) before signing it to understand your rights and obligations in the contract. If you have any questions, please consult the issuing bank.

 

Party A (full name): Ningbo KEYUAN Plastic Co., Ltd.

Party B (full name): Ningbo Beilun Branch of Agricultural Bank of China

 

For the needs of import of goods or services trade, Party A applies to Party B for issuance a letter of credit. Party A will deposit enough money for foreign payment within a stated period of time before foreign payment. Party B agrees to accept the application of Party A. According to relevant laws and regulations of the state, both parties, through consultation and negotiation, hereby enter into this contract.

 

Article I Amount and expiry date of margin for credit

1.1 Party A makes an application for a letter of credit to perform Contract 1981848 (import contract number) and Party B agrees to issue a letter of credit. Currency and amount of the letter of credit (Number: 392020LC13000056) is (in words) ten million three hundred and ten thousand three thousand six hundred and fifty-three US dollars and two cents. Before the letter of credit is issued, margin and/or collateral regarded as margin with currency and total amount of (in words) RMB twenty million Yuan shall be deposited

1.2 If this letter of credit is sight credit, Party A shall, within two banking days after Party B issues a "Foreign Payment/Acceptance Notice" or "Domestic Payment/Acceptance Notice", deposit full amount under the letter of credit into an account designated by Party B for payment of Party B; If this letter of credit is usance credit, Party A shall, three banking days before acceptance or expiry date for acceptance, deposit full amount under the letter of credit into an account designated by Party B for foreign payment of Party B.

Article II In case the following conditions are not met, Party B has the right not to handle issuance of a letter of credit under the contract:

2.1 Party A has opened a settlement account in Party B.

2.2 Party A has issued an "Irrevocable Documentary Credit Application" and other relevant materials to Party B. And the application has been examined and approved by Party B.

 

  

  

  

 

2.3 Party A has provided relevant documents and materials upon request of Party B as well as has completed approval, registration and other legal procedures for issuance of a letter of credit under this contract in accordance with relevant provisions.

2.4 In case there is warranty security for issuance of a letter of credit under this contract, warranty contract shall have been signed and entered into force. In case there is mortgage or pledge security for issuance of a letter of credit under this contract, relevant registration and/or insurance and other legal formalities shall have been completed according to the requirements of Party B. The above security and insurance shall remain valid.

Article III Rights and obligations of Party A

3.1 Party A is entitled to the business for issuance and modification of a letter of credit in accordance with the contract.

3.2 Party A shall provide Party B with true, complete and effective balance sheet, income statement and other financial statements as well as bank name, bank account, bank balance and other data or information. Party A shall also, as required by Party B, provide true and effective import contract and related materials in time for examination and supervision of Party B.

3.3 Settlement for RMB and foreign currency under the letter of credit shall be conducted through the account of Party A in Party B.

3.4 Party A shall complete legal and administrative approval procedures for import and issuance related to the contract as well as necessary for the performance of this contract.

3.5 Party A shall pay full amount to Party B of margin committed in "Irrevocable Documentary Credit Application" and "Application for Amendment of Letter of Credit". If the currency of margin actually deposited is different from that of the credit, Party A agrees to bear the risk of fluctuations in exchange. Prior to the payment of the letter of credit, in case paid margin is insufficient for fluctuations in exchange, Party A shall make up the balance of the margin in time.

3.6 Party A shall comply with ICC (International Chamber of Commerce) Publication No. 600 of "Uniform Customs and Practice for Documentary Credits (UCP600)", "Irrevocable Documentary Credit Application", "Application for Amendment of Letter of Credit" and relevant provisions of the contract to handle the business for issuance and modification of a letter of credit. Party A shall bear all responsibilities which may arise.

 

  

  

  

3.7 "Irrevocable Documentary Credit Application", "Application for Amendment of Letter of Credit" and accessories shall be filled out in English. Party B shall not be responsible for any consequences due to illegible writing or unclear meaning or ambiguity caused by Chinese.

3.8 Party A shall, without delay, check a copy of a letter of credit or an amendment issued by Party B after the receipt of the copy. In case of any discrepancies, Party A shall notify Party B in writing within two working days after the copy is received, which, otherwise, is regarded as correct.

3.9 Party A shall, within the period prescribed in "Foreign Payment/Acceptance Notice" or "Domestic Payment/Acceptance Notice", give a written notice to Party B for foreign payment/acceptance/confirmation of deferred payment/refusal of payment. Otherwise, Party B shall have the discretion to determine foreign payment/acceptance/confirmation of deferred payment/refusal of payment and Party A shall bear all responsibilities.

3.10 For usance draft accepted by or deferred payment confirmed by Party B, Party A shall not have the right to request Party B to suspend payment for any reason.

3.11 Party A shall deposit full amount in time according to the provision in Article 1.2 of the contract and make all payments under the letter of credit within the period prescribed by Party B, which includes the amount of the letter of credit as well as receivable fee and other related costs of Party B (including relevant bank charges that foreign beneficiary refuses to bear). If there is any form of advance, according to the contract, Party A shall not only unconditionally bear all the resulting debts, interest and costs, but also pay off the amount in time as required by Party B.

3.12 In case of the following events, Party A shall inform Party B in written form within five days after the occurrence of the event and carry out debt preservative measures approved by Party B:

(1) Subordination relationship change, change in senior personnel, amendment of the articles of association of the company and organization structure adjustment;

(2) Stop production, closure, cancellation of registration, business license revoked or bankruptcy filed for;

(3) Deteriorating financial situation, serious difficulties in production and operation or major litigation or arbitration;

(4) Any changes in name, domicile, legal representative or contact information;

(5) Other matters which have a significant adverse impact on the realization of the rights of the creditor of Party B.

 

  

  

  

 

3.13 Party A shall obtain prior approval from Party B before the implementation of the following activities and carry out debt settlement measures approved by Party B:

(1) Contracting, leasing, joint-stock reform, joint operation, merger, consolidation, division, joint venture, transfer of assets, reduction of registered capital and application for suspension of business for rectification, dissolution or bankruptcy as well as other behaviors which will cause changes in debtor-creditor relationship under the contract or have influence on the realization of the rights of the creditor of Party B;

(2) A guarantee for any debts of others or mortgage or pledge to any third person with its main assets as well as other behaviors which may affect debt-paying ability under this contract.

3.14 Party A and its investors shall not withdraw capital, transfer assets or transfer shares without authorization to avoid debts of Party B.

3.15 In case the guarantor under this contract loses some or all of the abilities to provide a guarantee for this contract due to stop production, closure, cancellation of registration, business license revoked, bankruptcy or loss of business, or the value of mortgage, pledge or pledge of rights as collateral for the letter of credit under the contract is impaired, Party A shall immediately pay full amount of reduced margin of the letter of credit stipulated in the contract or provide other guarantees approved by Party B in time.

3.16 Party A shall not sign any contract which will damage rights or interests of Party B under this contract with any third party.

Article IV Rights and obligations of Party B

4.1 Under the premise that Party A has performed obligations as stipulated in the contract and completed the prescribed formalities examined by Party B, Party B shall handle the business for issuance and modification of a letter of credit for Party A.

4.2 Party B has the right to know production, management, financial activities and use of the letter of credit of Party A. Party B also has the right to request Party A to provide financial statements as well as other documents, materials and information according to the fixed period.

4.3 For any modification of a letter of credit, Party A shall submit a written application to Party B and Party B has the right to determine whether to modify the letter of credit according to specific circumstances. Party A hereby confirms that all the modification for a letter of credit will take effect only when beneficiary accepts it.

 

  

  

  

4.4 In case Party A intends to refuse payment/acceptance/to confirm deferred payment due to discrepancies in documents, Party A shall submit a written application to Party B for refusal of payment within the period prescribed in "Foreign Payment/Acceptance Notice" or "Domestic Payment/Acceptance Notice" from Party B to list all the discrepancies. Party B has independent and final right to identify and dispose all the discrepancies in documents. If Party B confirms that the discrepancies cannot be used as the basis for refusal of payment after review according to international practice, Party B has the right to take the initiative for foreign payment/acceptance/confirmation of deferred payment and Party A gives up the right of defense.

4.5 Party B shall not assume any responsibilities for the consequences due to loss, delay or error during post or telecommunications transmission.

4.6 In case of adverse behaviors or condition of Party A to affect rights or interests of Party B, including but not limited to those listed in Paragraph 3.12, Paragraph 3.13 and Paragraph 3.14, Party B has the right to request Party A to pay full amount of reduced issuance margin under the letter of credit or carry out other debt preservative measures.

4.7 Party B has the right to debit the account of Party A in Party B actively for its foreign payment. If Party A fails to deposit full amount according to the contract in a timely manner or Party B purposes to recover principal and interest of the advance as well as other fees payable of Party A according to the contract, Party B has the right to directly transfer money from any account of Party A. Offset debt and offset order shall be determined by Party B. In case Party B exercises the right for offset in accordance with laws or regulations of the contract, Party A may raise objections within seven working days after the date on which Party B notifies Party A in written, oral or other forms.

4.8 After advance, if the money returned by Party A is not sufficient to repay the amount payable under this contract, Party B may choose to use the money for return of principal, interest or fees of the advance.

4.9 In case there are several due debts between Party A and Party B as well as repayment of Party A is not enough to pay off all the debts, offset debt and offset order of the repayment of Party A shall be determined by Party B.

4.10 If Party A fails to perform obligation of repayment, Party B may publicly disclose the breach of Party A.

 

  

  

  

Article V Guarantee

The form of guarantee for debt under the contract is pledge and an additional guarantee contract will be signed. For the guarantee of maximum potential liability, its contract number is 82100420130001305.

Article VI Liability for breach of contract

6.1 For any breach by Party B of obligations stipulated in Article IV of this contract, Party B shall not only continue to perform the contract, but also bear corresponding legal responsibility according to law.

6.2 For advance of Party B because Party A violates the provision in Article 1.2 of the contract, payment of the advance shall be considered as a overdue loan, of which the interest will be accrued from the date of the advance and at the rate calculated as the following Paragraph (1).

(1) Five (in words) ten thousandths per day during the overdue period;

(2) (in words) percent above   % of a spread for   (LIBOR/HIBOR) within   (in words) months from the date of the advance. LIBOR/HIBOR (London InterBank Offered Rate/Hongkong InterBank Offered Rate) refers to London/Hongkong interbank offered rate published by Reuters during corresponding period from the date of the advance.

 

Party A shall undertake the liability to settle advance/financing payments and overdue interest with original issuance currency.

6.3 In case Party A violates obligations agreed in the contract and a letter of credit has not yet been issued, Party B has the right to refuse to issue the letter of credit. For a letter of credit which has been issued, Party A shall immediately pay full amount of reduced issuance margin stipulated in this contract. If Party A fails to pay full amount of margin within the period stated in the notice of Party B, Party B has the right to charge liquidated damages at the rate of five (in words) ten thousandths per day.

6.4 In case Party A violates obligations agreed in the contract, Party B has the right to request Party A to rectify the breach within a certain time, has the right to suspend issuance of a letter of credit as well as has the right to announce that debts under other contracts signed by Party A and Party B are immediately due or to take other asset preservation measures.

6.5 In case any guarantor for a letter of credit under the contract violates obligations agreed in a guarantee contract, Party B has the right to suspend issuance of a letter of credit for Party A, request Party A to pay full amount of reduced issuance margin stipulated in the contract or take other asset preservation measures.

6.6 If Party B realizes its rights of the creditor through litigation or arbitration due to a breach of Party A, Party A should be responsible for lawyer fees, travel expenses and other expenses of Party B to realize its rights of the creditor.

 

  

  

  

 

Article VII Special agreement for usance letter of credit payable at sight

7.1 The fact that Party A applies for issuance of a usance letter of credit payable at sight and Party B opens a usance letter of credit payable at sight upon its request with sight foreign payment or with foreign payment instruction to a paying bank shall be regarded that Party B provides financing for Party A.

7.2 Financing days will be calculated from the date on which Party B/paying bank pays until expiry date of draft/invoice. Party A herewith promises to bear the responsibility to unconditionally repay principal and interest of all financing under the letter of credit to Party B on expiry date of draft/invoice. For financing overdue because Party A fails to pay the amount on schedule, the interest will be accrued from overdue date and at the rate calculated as Paragraph 6.2.

7.3 Financing interest shall be calculated as financing rate×financing days×financing amount. Financing rate shall be subject to records of relevant certificates.

7.4 Party A shall obtain prior consent of Party B for early repayment of financing. In case paying bank is other bank and requires early repayment charges and/or interest penalties, Party A shall bear the responsibility.

7.5 Party A promises to renounce the right to apply to the court or other relevant departments for stop-payment order or freezing payment under a usance letter of credit payable at sight.

Article VIII Settlement of disputes

Any dispute arising from this contract can be resolved through consultation by both parties or according to Paragraph 8.1 as follows:

8.1 Litigation. The people's court of the domicile of Party B shall have jurisdiction.

8.2 Arbitration. The dispute shall be submitted to   (full name of arbitration organization) for arbitration in accordance with its arbitration rules.

 

During litigation or arbitration, the provisions of this contract which do not involve the dispute shall still be fulfilled.

 

  

  

  

 

Article IX Miscellaneous

9.1 Relevant "Irrevocable Documentary Credit Application" and/or "Application for Amendment of Letter of Credit" and advance voucher shall form an integral part of this contract.

Article X Effectiveness of contract

The contract shall become effective immediately after the date of signature or seal by both parties.

Article XI This contract is in triplicate. Each party and guarantor shall keep a copy which has the same legal effect.

 

Party A states that: Party B has exposed relevant terms (especially the terms in bold type) to us in accordance with law and has explained concept, content and legal effect of relevant provisions upon our request. We have been aware of and understood the above terms.

 

	
Party A (signature)

	
Party B (signature)

	
Legal representative

or authorized agent

	
Responsible person

or authorized agent

	
Date of the contract: September 12, 2013

	
Date of the contract: September 12, 2013

	
Signed at: Development Zone Branch of ABC

	
Signed at: Development Zone Branch of ABCfs42013a3ex4iv_bgs.htm

Exhibit 4.4

 

FORM OF

AMENDMENT NO. 1 TO WARRANT AGREEMENT

THIS AMENDMENT NO. 1 TO WARRANT AGREEMENT (this “Amendment”), dated as of November       , 2013, is by and between YX Genomics, Inc., a Delaware corporation (“YXGI”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”).

WHEREAS, the Warrant Agent and BGS Acquisition Corp., a British Virgin Islands business company (“BGS Corp.”), entered into a Warrant Agreement on March 20, 2012 (the “Original Agreement”); and

WHEREAS, on November       , 2013 (the “Business Combination Effective Date”), (1) BGS Corp. merged with and into its wholly owned subsidiary, YXGI, with YXGI surviving, thereby completing a redomestication of BGS Corp. into Delaware (the “Redomestication”), and (2) TransnetYX Holding Corp. merged with and into BGS Merger Subsidiary, Inc., a Delaware corporation and wholly owned subsidiary of YXGI, thus completing the Business Combination; and

WHEREAS, each BGS Corp. Ordinary Share will be automatically exchanged for one share of common stock, par value $0.001 per share, of YXGI (the “Common Stock”) and each BGS Corp. Warrant will be automatically exchanged for one warrant for the purchase of one share of Common Stock (the “YX Warrants”); and

WHEREAS, as a result of the Business Combination, each of the Placement Warrants were converted into 1/20th of a share of Common Stock and are no longer outstanding as of the Business Combination Effective Date; and

WHEREAS, as a result of the Redomestication and the related assumption of the obligations of BGS Corp. under the Original Agreement, the parties hereto wish to enter into this Amendment.

NOW, THEREFORE, intending to be legally bound, the parties hereto hereby amend the Original Agreement as follows:

1.           The recitals are hereby incorporated into this Amendment by reference.  Any capitalized terms used but not defined herein shall have the same meaning as in the Original Agreement.

2.           Each reference in the Original Agreement to “Company” shall be deemed to refer to YXGI, as successor in interest to BGS Corp.

3.           Each reference in the Original Agreement to “Ordinary Shares” shall be deemed to refer to the Common Stock.

 

  

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4.         Each reference in the Original Agreement to “Warrants” shall be deemed to refer to the YX Warrants.

5.         Each reference in the Original Agreement to “Warrant Certificate” shall be deemed to refer to the Amended and Restated Warrant Certificate attached to this Amendment as Exhibit A.

6.         Section 2.5 of the Original Agreement is hereby deleted in its entirety and replaced by the following:

“Intentionally Omitted.”

7.         Section 3.2 of the Original Agreement is hereby deleted in its entirety and replaced with the following:

“3.2.  Duration of Warrants.  A Warrant may be exercised only during the period (the “Exercise Period”) commencing on December ___, 2013, which is thirty (30) days after the date on which the Company completed the acquisition of TransnetYX Holding Corp. (the “Business Combination”), and terminating at 5:00 p.m., New York City time on the earlier to occur of: (x) November ___, 2018, which is the date that is five (5) years after the date on which the Company completed the Business Combination, (y) the liquidation of the Company, or (z) other than with respect to the Placement Warrants, the Redemption Date (as defined below) as provided in Section 6.2 hereof (the “Expiration Date”); provided, however, that the exercisability of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in subsection 3.3.2 below with respect to an effective post-effective amendment or new registration statement and current prospectus in respect of the Ordinary Shares underlying the Public Warrants.  Except with respect to the right to receive the Redemption Price in the event of a redemption (as set forth in Section 6 hereof), each Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at 5:00 p.m., New York City time, on the Expiration Date. The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, that the Company shall provide at least twenty (20) days prior written notice of any such extension to the Registered Holders of the Warrants; and provided further that any such extension shall be identical in duration among all the Warrants.”

8.         Section 6.4 of the Original Agreement is hereby deleted in its entirety and replaced by the following:

 

“Intentionally Omitted.”

9.         Exhibit A of the Original Agreement is hereby deleted in its entirety and replaced by the Exhibit A attached hereto.

 

  

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10.         Exhibit B of the Original Agreement is hereby deleted in its entirety.

11.         Unless otherwise modified or amended by this Amendment, the terms and conditions of the Original Agreement shall remain in full force and effect, provided, however, that if the terms of this Amendment conflict with any of the terms of the Original Agreement, the terms of this Supplement shall control.  This Amendment may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

[Remainder of page intentionally left blank.]

  

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

	  	
YX GENOMICS, INC.

 

	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	  	
CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

 

	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

 

[Signature Page to Amendment No. 1 to Warrant Agreement]

  

  

EXHIBIT A

FORM OF AMENDED AND RESTATED WARRANT CERTIFICATE

[See attached.]

 

  

 

  

 

[Form of Amended and Restated Warrant Certificate]

 

[FACE]

 

Number

                                    

 

Warrants

                                     

 

THIS WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

YX GENOMICS, INC.

a Delaware corporation

 

CUSIP

                                    

Amended and Restated

Warrant Certificate

Background

 

On November       , 2013 (the “Business Combination Effective Date”), (1) BGS Acquisition Corp., a British Virgin Islands business company (“BGS Corp.”), merged with and into its wholly owned subsidiary, YX Genomics, Inc., a Delaware corporation (“YXGI”), with YXGI surviving, thereby completing a redomestication of BGS Corp. into Delaware (the “Redomestication”), and (2) TransnetYX Holding Corp. merged with and into BGS Merger Subsidiary, Inc., a Delaware corporation and wholly owned subsidiary of YXGI, thus completing the Business Combination.

Pursuant to the Redomestication, each BGS Corp. Public Warrant for Ordinary Shares outstanding immediately prior to the Redomestication is automatically converted into one warrant for one share of YXGI common stock, par value $0.001 per share (the “Common Stock”).

As a result of the Business Combination, each of the Underwriter Warrants and each of the Placement Warrants were converted into 1/20th of a share of Common Stock and are no longer outstanding as of the Business Combination Effective Date.

As a result of the Redomestication, for purposes of this Warrant and the Warrant Agreement, (1) any reference to the “Company” shall be deemed to refer to YXGI, (2) any reference to a “Warrant” or the “Warrants” shall be deemed to refer to the YXGI Warrants for the purchase of Common Stock, including references to “Public Warrants” and “UPO Warrants,” and (3) any reference to the “Ordinary Shares” shall be deemed to refer to the Common Stock.

Warrant Terms

This Warrant Certificate certifies that                                     , or registered assigns, is the registered holder of                                      warrants (the “Warrants”) to purchase common stock, par value $0.001 per share (the “Common Stock”) of YX Genomics, Inc. (the “Company”).  Each Warrant entitles the holder, upon exercise during the Exercise Period, as set forth in the Warrant Agreement referred to on the reverse hereof, to receive from the Company that number of fully paid and nonassessable Shares of Common Stock as set forth below, at the exercise price (the “Exercise Price”), as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” if permitted by the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement.  Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

  

 

  

 

Each Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

The initial Exercise Price per share of Common Stock for any Warrant is equal to $10.00 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period, which will commence on December       , 2013 and terminate at 5:00 p.m., New York City time, on the earlier to occur of: (1) November       , 2018, (2) the liquidation of the Company, or (3) the Redemption Date, and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void.

 

Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place.

This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant 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.

	  	
YX GENOMICS, INC.

 

	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	  	
CONTINENTAL STOCK TRANSFER & TRUST COMPANY, 

as Warrant Agent

 

	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

 

  

 

  

 

[Form of Amended and Restated Warrant Certificate]

 

[REVERSE]

 

The Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive shares of Common Stock and are issued pursuant to a Warrant Agreement dated as of March 20, 2012 (the “Warrant Agreement”), duly executed and delivered by BGS Acquisition Corp., the predecessor of the Company, and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder) of the Warrants, with such definitional changes as are set forth in the Background section on the face of this Amended and Restated Warrant Certificate. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised at any time during the Exercise Period. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement (or through “cashless exercise” if permitted by the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. No adjustment shall be made for any dividends on any of the shares of Common Stock issuable upon exercise of this Warrant.

 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration statement covering the Common Stock to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the Common Stock is current, except through “cashless exercise” if permitted by the Warrant Agreement.

 

The Warrant Agreement provides that upon the occurrence of certain events the number of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a share of Common Stock, the Company shall, upon exercise, round up to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant.

 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants.

 

Upon due presentation for registration or transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith.

 

The Company and the Warrant Agent may deem and treat the Registered Holder(s) thereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Company.

 

  

 

  

 

EXHIBIT A

ELECTION TO PURCHASE

 

(To Be Executed Upon Exercise of Warrant)

 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive                                     shares of Common Stock and herewith tenders payment for such shares to the order of YX Genomics, Inc. (the “Company”) in the amount of $                                    in accordance with the terms hereof. The undersigned requests that a certificate for such shares be registered in the name of                                    , whose address is                                     and that such shares be delivered to                                     whose address is                                    . If said number of shares is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the name of                                    , whose address is                                    , and that such Warrant Certificate be delivered to                                    , whose address is                                    .

 

In the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number of shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant Agreement.

 

In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement that allows for such cashless exercise and (ii) the holder hereof shall complete the following:

 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Common Stock. If said number of shares is less than all of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the name of                                    , whose address is                                    , and that such Warrant Certificate be delivered to                                    , whose address is                                    .

 

Date:                                    , 20      

	  	  	  
	  	  	
(Signature)

	  	  	  
	  	  	  
	  	  	
(Address)

	  	  	  
	  	  	
(Tax Identification Number)

 

Signature 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).

  

 

  

 

EXHIBIT B

 

LEGEND

THESE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), (B) TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) PURSUANT TO THE RESALE LIMITATIONS SET FORTH IN RULE 905 OF REGULATIONS S UNDER THE SECURITIES ACT, (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO ANY OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

IN ADDITION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO DECEMBER       , 2013, EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN THE WARRANT AGREEMENT REFERRED TO HEREIN) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

	
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                                    Warrants

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