Document:

Exhibit

Exhibit 4.5
DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934
As of February 27, 2020, Fluidigm Corporation ("we," "us," "our," or the "Company") has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), our Common Stock.
Description of Common Stock
The following description of our Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Eighth Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”) and our Amended and Restated Bylaws (the “Bylaws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.5 is a part. We encourage you to read our Certificate of Incorporation, our Bylaws and the applicable provisions of the Delaware General Corporation Law, for additional information.
Authorized Capital Shares
Our authorized capital stock consists of 200,000,000 shares of common stock, $0.001 par value per share (“Common Stock”), and 10,000,000 shares of preferred stock, $0.001 par value per share. 
Common Stock
The holders of our Common Stock are entitled to one vote per share on all matters to be voted on by our stockholders. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of Common Stock are entitled to receive ratably such dividends as may be declared by our Board of Directors out of funds legally available for that purpose. In the event of our liquidation, dissolution or winding up, the holders of Common Stock are entitled to share ratably in all assets remaining after the payment of liabilities, subject to the prior distribution rights of preferred stock then outstanding. Holders of Common Stock have no preemptive, conversion or subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock.
Preferred Stock
Our Board of Directors has the authority, without further action by our stockholders, to designate and issue up to 10,000,000 shares of preferred stock in one or more series. Our Board of Directors may also designate the rights, preferences and privileges each such series of preferred stock, any or all of which may be greater than or senior to those of the Common Stock. Though the actual effect of any such issuance on the rights of the holders of Common Stock will not be known until our Board of Directors determines the specific rights of the holders of preferred stock, the potential effects of such an issuance include:
		
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	diluting the voting power of the holders of Common Stock;

		
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	reducing the likelihood that holders of Common Stock will receive dividend payments;

		
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	reducing the likelihood that holders of Common Stock will receive payments in the event of our liquidation, dissolution, or winding up; and

		
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	delaying, deterring or preventing a change-in-control or other corporate takeover. 

Voting Rights
Holders of our Common Stock are entitled to one vote for each share of Common Stock held by such holder on any matter submitted to a vote at a meeting of stockholders. In addition, our Certificate of Incorporation provides that certain corporate actions require the approval of our stockholders. These actions, and the vote required, are as follows:
		
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	the removal of a director requires the vote of a majority of the voting power of our issued and outstanding capital stock entitled to vote in the election of directors; and

		
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	the amendment of provisions of our Certificate of Incorporation relating to blank check preferred stock, the classification of our directors, the removal of directors, the filling of vacancies on our Board of Directors, cumulative voting, annual and special meetings of our stockholders and require the vote of 66 2/3% of our then outstanding voting securities.

Anti-Takeover Effects of Delaware Law and Our Certificate of Incorporation and Bylaws
Certain provisions of Delaware law and our Certificate of Incorporation and Bylaws contain provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control of the Company. These provisions, which are summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids. These provisions are also designed in part to encourage anyone seeking to acquire control of us to first negotiate with our Board of Directors. We believe that the advantages gained by protecting our ability to negotiate with any unsolicited and potentially unfriendly acquirer outweigh the disadvantages of discouraging such proposals, including those priced above the then-current market value of our Common Stock, because, among other reasons, the negotiation of such proposals could improve their terms.
Certificate of Incorporation and Bylaws
Our Certificate of Incorporation and Bylaws include provisions that:
		
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	authorize our board of directors to issue, without further action by the stockholders, up to 10,000,000 shares of undesignated preferred stock;

		
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	require that any action to be taken by our stockholders be effected at a duly called annual or special meeting and not by written consent;

		
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	specify that special meetings of our stockholders can be called only by our Board of Directors, the Chairman of the Board, the Chief Executive Officer or the President;

		
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	establish an advance notice procedure for stockholder approvals to be brought before an annual meeting of our stockholders, including proposed nominations of persons for election to our Board of Directors;

		
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	provide that directors may be removed only for cause;

		
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	provide that vacancies on our Board of Directors may be filled only by a majority of directors then in office, even though less than a quorum;

		
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	establish that our Board of Directors is divided into three classes, Class I, Class II, and Class III, with each class serving staggered terms;

		
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	specify that no stockholder is permitted to cumulate votes at any election of the Board of Directors; and

		
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	require a super majority of votes to amend certain of the above-mentioned provisions.

Delaware Anti-Takeover Statute
We are subject to the provisions of Section 203 of the Delaware General Corporation Law regulating corporate takeovers (“Section 203”). In general, Section 203 prohibits a publicly-held Delaware corporation from engaging, under certain circumstances, in a business combination with an interested stockholder for a period of three years following the date the person became an interested stockholder unless:
		
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	prior to the date of the transaction, the Board of Directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

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	upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not for determining the outstanding voting stock owned by the interested stockholder, (i) shares owned by persons who are directors and also officers, and (ii) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

		
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	at or subsequent to the date of the transaction, the business combination is approved by the Board of Directors of the corporation and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock which is not owned by the interested stockholder.

Generally, a business combination includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. An interested stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder status, did own 15% or more of a corporation’s outstanding voting stock. We expect the existence of this provision to have an anti-takeover effect with respect to transactions our board of directors does not approve in advance. We also anticipate that Section 203 may discourage business combinations or other attempts that might result in a premium over the market price for the shares of Common Stock held by our stockholders.
The provisions of Delaware law and our Certificate of Incorporation and Bylaws could have the effect of discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our Common Stock that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.
Transfer Agent and Registrar
The transfer agent and registrar for our Common Stock is Computershare Trust Company, N.A. The transfer agent’s address is 462 South 4th Street, Suite 1600, Louisville, KY 40202, and its telephone number is (800) 662-7232 or (781) 575-2879.
 Nasdaq Global Select Market Listing
Our Common Stock is traded on The Nasdaq Global Select Market under the trading symbol “FLDM.”

-3-Exhibit

Exhibit 10.13A
DEFAULT WAIVER AND FIRST AMENDMENT 
TO
LOAN AND SECURITY AGREEMENT

This DEFAULT WAIVER AND FIRST AMENDMENT to Loan and Security Agreement (this “Agreement”) is entered into this 7th day of September, 2018 (the “First Amendment Effective Date”), by and between Silicon Valley Bank (“Bank”) and FLUIDIGM CORPORATION, a Delaware corporation (“Borrower”).

RECITALS

A.Bank and Borrower have entered into that certain Loan and Security Agreement dated as of August 2, 2018 (as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”). Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.

B.In addition, Borrower acknowledges it is currently in default of the Loan Agreement for failing to (a) deliver to Bank duly executed original signatures to the Control Agreement(s) entered into for the benefit of Bank with respect to the Bank of America Lockbox Accounts pursuant to Section 3.3(d) of the Loan Agreement and (b) opening additional cash collateral accounts with Bank of America not permitted by Section 6.8 of the Loan Agreement (each of the defaults under (a) and (b), collectively, the “Waived Defaults”).

C.Borrower has requested that Bank waive its rights and remedies against Borrower, limited specifically to the Waived Defaults. Although Bank is under no obligation to do so, Bank is willing to not exercise its rights and remedies against Borrower related to the specific Waived Defaults on the terms and conditions set forth in this Agreement, so long as Borrower complies with the terms, covenants and conditions set forth in this Agreement.

D.Borrower has further requested that Bank amend the Loan Agreement to (1) revise the postclosing requirements and (2) make certain other revisions to the Loan Agreement as more fully set forth herein. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.

AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

1.    Definitions. Capitalized terms used but not defined in this Agreement shall have the meanings given to them in the Loan Agreement.

2.    Waiver of Default. Bank hereby waives filing any legal action or instituting or enforcing any rights and remedies it may have against Borrower with respect to the Waived Defaults. Bank’s waiver of Borrower’s compliance with Sections 3.3(d) and 6.8 shall apply only with respect to Borrower’s failure to do so as of the First Amendment Effective Date. Accordingly, hereinafter, Borrower shall be in compliance with such sections. Bank’s agreement to waive the Waived Defaults (a) in no way shall be deemed an agreement by Bank to waive Borrower’s compliance with the above-referenced sections as of all other dates after the First Amendment Effective Date, and (b) shall not limit or impair the Bank’s right to demand strict performance of such sections as of all other dates after the First Amendment Effective Date.

		
	3.
	Amendments to Loan Agreement.

3.1    Section 3.3 (Covenant to Deliver). Sections 3.3(b), (c) and (d) of the Loan Agreement are amended in their entirety and replaced with the following:

“(b)    As soon as possible, but in any event not later than sixty (60) days after the Effective Date, Borrower shall deliver to Bank a landlord’s consent in favor of Bank for Borrower’s leased location at 7000 Shoreline Court, Suite 100, San Francisco, CA 94080, by the respective landlord thereof, together with the duly executed original signatures thereto.

(c)As soon as possible, but in any event not later than sixty (60) days after the Effective Date, Borrower shall deliver to Bank a bailee’s waiver in favor of Bank for each location where Borrower maintains property with a third party, by each such third party, together with the duly executed original signatures thereto. For the avoidance of doubt, only Inventory stored at a location that is subject to a landlord consent or bailee waiver in favor of Bank shall be considered Eligible Inventory.

(d)As soon as possible, but in any event not later than sixty (60) days after the Effective Date, Bank shall have received duly executed original signatures to the Control Agreement(s) entered into for the benefit of Bank with respect to the Bank of America Lockbox Accounts.”

3.2    Section 6.8 (Accounts). Section 6.8(a) of the Loan Agreement is amended in its entirety and replaced with the following:

“(a)   Maintain its and all of its Subsidiaries’ operating and other deposit accounts, the Cash Collateral Account and excess cash with Bank and Bank’s Affiliates; provided, however, notwithstanding the foregoing,
(I) Borrower may maintain (a) subject to a Control Agreement entered into for the benefit of Bank, its existing collections accounts at Bank of America listed on the Perfection Certificate delivered by Borrower to Bank on or prior to the Effective Date (the “Bank of America Lockbox Accounts”) so long as such accounts are blocked and all amounts in such accounts are swept to the Cash Collateral Account on a daily basis, (b) subject to a Control Agreement entered into for the benefit of Bank, depository accounts (other 

than the Bank of America Payroll Account) at Bank of America (the “Bank of America Deposit Accounts”) so long as the aggregate amount of cash in such accounts does not, at any time, exceed Three Million Five Hundred Thousand Dollars ($3,500,000) in the aggregate, (c) its existing payroll account at Bank of America listed on the Perfection Certificate delivered by Borrower to Bank on or prior to the Effective Date (the “Bank of America Payroll Account”) so long as the aggregate amount of cash in such accounts does not, at any time, exceed an amount equal to one hundred percent (100%) of the next payroll (including but not limited to any bonuses payable), (d) for a period of time not to exceed twelve (12) months following the Effective Date, its existing account at Wells Fargo Bank listed on the Perfection Certificate delivered by Borrower to Bank on or prior to the Effective Date (the “Wells Fargo Account”) so long as the aggregate amount of cash in such account does not, at any time, exceed Four Hundred Thousand Dollars ($400,000) in the aggregate, (e) for a period of time not to exceed (12) months following the Effective Date, its existing account at Bridge Bank listed on the Perfection Certificate delivered by Borrower to Bank on or prior to the Effective Date (the “Bridge Bank Account”) so long as the aggregate amount of cash in such account does not, at any time, exceed Sixty Thousand Dollars ($60,000) in the aggregate, and (f) accounts securing Indebtedness described in subsection (j) of the defined term Permitted Indebtedness so long as the aggregate amount of cash in such accounts does not, at any time, exceed Eight Hundred Forty Thousand Dollars ($840,000) in the aggregate and (II) Borrower’s Foreign Subsidiaries may maintain accounts with banks outside of the United States so long as the aggregate amount of cash in such account does not, at any time, exceed the lesser of (i) Eight Million Dollars ($8,000,000) or (ii) thirty percent (30%) of all of Borrower’s and its Subsidiaries’ cash in the aggregate. In addition, Borrower (i) shall use its best efforts to use Bank Services provided such Bank Services meet Borrower’s ordinary course of business needs and (ii) Borrower shall maintain all its credit cards with Bank.”

3.3    Section 13 (Definitions). Subsection (j) of the defined term Permitted Indebtedness set forth in Section 13.1 of the Loan Agreement, as appropriate, as follows:

“(j) Indebtedness consisting of reimbursement obligations in respect of letters of credit, bank guarantees or bankers’ acceptances issued for the benefit of customers, suppliers or distributors located in foreign jurisdictions in a face amount not to exceed Seven Hundred Thousand Dollars ($700,000);”

3.4    Exhibit A. Exhibit A to the Loan Agreement shall be amended and restated in its entirety in the form attached hereto as Exhibit A.

4.    Limitation.

4.1    This Agreement is effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.

4.2    This Agreement shall be construed in connection with and as part of the Loan Documents, and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents are hereby ratified and confirmed and shall remain in full force and effect.

5.    Representations and Warranties. Borrower represents and warrants to Bank as follows:

5.1    (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default other than and the Waived Defaults has occurred and is continuing;

5.2    Borrower has the power and authority to execute and deliver this Agreement and to perform its obligations under the Loan Agreement;

5.3    The organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;

5.4    The execution and delivery by Borrower of this Agreement and the performance by Borrower of its obligations under the Loan Agreement have been duly authorized by all necessary action on the part of Borrower;

5.5    The execution and delivery by Borrower of this Agreement and the performance by Borrower of its obligations under the Loan Agreement do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower;

5.6    The execution and delivery by Borrower of this Agreement and the performance by Borrower of its obligations under the Loan Agreement do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on either Borrower, except as already has been obtained or made; and

5.7    This Agreement has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, 

reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.

6.    Ratification of Perfection Certificate. Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated on or prior to the Effective Date and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate have not changed, as of the date hereof.

7.    Integration. This Agreement and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the Loan Documents.

8.    Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

9.    Conditions to Effectiveness. The parties agree that this amendment shall be effective upon the due execution and delivery to Bank of this Agreement by each party hereto.

		
	10.
	Miscellaneous.

10.1    This Agreement shall constitute a Loan Document under the Loan Agreement; the failure to comply with the covenants contained herein shall constitute an Event of Default under the Loan Agreement; and all obligations included in this Agreement (including, without limitation, all obligations for the payment of principal, interest, fees, and other amounts and expenses) shall constitute obligations under the Loan Agreement and secured by the Collateral.

10.2    Each provision of this Agreement is severable from every other provision in determining the enforceability of any provision.

11.    Governing Law. This Agreement and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of California.

[Signature page follows.]

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

BANK                        BORROWER

SILICON VALLEY BANK            FLUIDIGM CORPORATION

By: /s/ Shawn Parry                    By:  /s/ Nicholas Khadder        
Name: Shawn Parry                              Name: Nicholas Khadder                 
Title: Director                                           Title: General Counsel and Secretary 

EXHIBIT A - COLLATERAL DESCRIPTION

The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property:

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, certificates of deposit, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and

all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing.

Notwithstanding the foregoing, the Collateral does not include (a) with respect to stock in Foreign Subsidiaries, more than sixty-five percent (65.0%) of the presently existing and hereafter arising issued and outstanding shares of capital stock owned by Borrower of any Foreign Subsidiary which shares entitle the holder thereof to vote for directors or any other matter, (b) any interest of Borrower as a lessee or sublessee under a real property lease or an Equipment lease if Borrower is prohibited by the terms of such lease from granting a security interest in such lease or under which such an assignment or Lien would cause a default to occur under such lease (but only to the extent that such prohibition is enforceable under all applicable laws including, without limitation, the Code); provided, however, that upon termination of such prohibition, such interest shall immediately become Collateral without any action by Borrower or Bank; (c) cash collateral accounts not held with Bank or Bank’s Affiliates securing reimbursement obligations under letters of credit or (d) any Intellectual Property; provided, however, the Collateral shall include all Accounts and all proceeds of Intellectual Property. If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is necessary to have a security interest in such Accounts and such property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property.

Pursuant to the terms of a certain negative pledge arrangement with Bank, Borrower has agreed not to encumber any of its Intellectual Property without Bank’s prior written consent.

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