Document:

ngm-ex43_293.htm

Exhibit 4.3

DESCRIPTION OF REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

NGM Biopharmaceuticals, Inc. (“we,” “our,” “us,” 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. The following summary of the terms of our common stock is based upon our amended and restated certificate of incorporation and our amended and restated bylaws, which are filed as exhibits to our Annual Report on Form 10-K, of which this Exhibit 4.3 is a part, and are incorporated by reference herein. This summary does not purport to be complete and is subject to, and is qualified in its entirety by express reference to, the applicable provisions of our amended and restated certificate of incorporation and our amended and restated bylaws. We encourage you to read our amended and restated certificate of incorporation and our amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for more information. We also provide a summary of our preferred stock, which is not registered under Section 12 of the Exchange Act.

DESCRIPTION OF CAPITAL STOCK

General

Our amended and restated certificate of incorporation provides for one class of common stock and undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our board of directors.

Our amended and restated certificate of incorporation authorizes us to issue up to 400,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share.

Common Stock

Voting Rights

Each holder of common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders. In addition to any vote of holders of a specific class or series, or required by law or the amended and restated certificate of incorporation, the affirmative vote of holders of at least 66 2/3% of the voting power of all of the then outstanding shares of capital stock, voting as a single class, is required to amend certain provisions of our amended and restated certificate of incorporation, including provisions relating to amending our amended and restated bylaws, the classified board, the size of our board, removal of directors, director liability, vacancies on our board, special meetings, stockholder notices, actions by written consent and exclusive jurisdiction.

Dividends

Subject to preferences that may apply to any outstanding convertible preferred stock, holders of our common stock are entitled to receive ratably any dividends that our board of directors may declare out of funds legally available for that purpose.

Liquidation

In the event of our liquidation, dissolution or winding up, holders of our common stock are entitled to share ratably in all assets remaining after payment of liabilities and the liquidation preference of any outstanding convertible preferred stock.

Rights and Preferences

Holders of our common stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions applicable to our common stock. The rights, preferences and privileges of the holders of our common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of our convertible preferred stock that we may designate in the future.

Fully Paid and Nonassessable

All outstanding shares of our common stock are fully paid and nonassessable.

Preferred Stock

Our board of directors has the authority, without further action by our stockholders, to issue up to 10,000,000 shares of preferred stock in one or more series and to fix the number, rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences and sinking fund terms, and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock. The issuance of our preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control or other corporate action.

Anti-Takeover Provisions

Certificate of Incorporation and Bylaws

Our amended and restated certificate of incorporation and amended and restated bylaws include a number of provisions that may deter or impede hostile takeovers or changes of control or management. These provisions include:

	
 
	
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Issuance of Undesignated Preferred Stock: Our board of directors has the authority, without further action by the stockholders, to issue up to 10,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by our board of directors. The existence of authorized but unissued shares of preferred stock enables our board of directors to make it more difficult to attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise.

	
 
	
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Classified Board: Our amended and restated certificate of incorporation provides for a classified board of directors consisting of three classes of directors, with staggered three-year terms. Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. This provision may have the effect of delaying a change in control of our board.

	
 
	
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Board of Directors Vacancies: Our amended and restated certificate of incorporation and amended and restated bylaws authorize only our board of directors to fill vacant directorships. In addition, the number of directors constituting our board of directors may be set only by resolution adopted by a majority vote of our entire board of directors. These provisions prevent a stockholder from increasing the size of our board of directors and gaining control of our board of directors by filling the resulting vacancies with its own nominees.

	
 
	
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Stockholder Action; Special Meetings of Stockholders: Our amended and restated certificate of incorporation provides that our stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. Stockholders are not permitted to cumulate their votes for the election of directors. Our amended and restated bylaws provide that only the chairman of our board of directors, our chief executive officer, or a majority of our board of directors may call special meetings of our stockholders.

	
 
	
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Advance Notice Requirements for Stockholder Proposals and Director Nominations: Our amended and restated bylaws provide advance notice procedures for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual meeting of stockholders. Our amended and restated bylaws also specify certain requirements as to the form and content of a stockholder’s notice. These provisions may make it more difficult for our stockholders to bring matters before our annual meeting of stockholders or to nominate directors at annual meetings of stockholders.

We designed these provisions to enhance the likelihood of continued stability in the composition of our board of directors and its policies, to discourage certain types of transactions that may involve an actual or threatened acquisition of us and to reduce our vulnerability to an unsolicited acquisition proposal. We also designed these provisions to discourage certain tactics that may be used in proxy fights. However, these provisions could have the effect of discouraging others from making tender offers for our shares and, as a consequence, they may also reduce fluctuations in the market price of our shares that could result from actual or rumored takeover attempts.

Section 203 of the Delaware General Corporation Law

We are subject to Section 203 of the DGCL, which prohibits a Delaware corporation from engaging in a business combination with any interested stockholder for a period of three years following the date the person became an interested stockholder, with the following exceptions:

	
 
	
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before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested holder;

	
 
	
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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 began, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (a) by persons who are directors and also officers and (b) pursuant to 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; and

	
 
	
•
	
on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 662⁄3% of the outstanding voting stock that is not owned by the interested stockholder.

In general, Section 203 of the DGCL defines business combination to include the following:

	
 
	
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any merger or consolidation involving the corporation and the interested stockholder;

	
 
	
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any sale, lease, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

	
 
	
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subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

	
 
	
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any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; and

	
 
	
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the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

In general, Section 203 of the DGCL defines an interested stockholder as an entity or person who, together with the entity’s or person’s affiliates and associates, beneficially owns, or is an affiliate of the corporation and within three years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation.

A Delaware corporation may opt out of these provisions with an express provision in its certificate of incorporation. We have not opted out of these provisions, which may as a result, discourage or prevent mergers or other takeover or change in control attempts of us.

Choice of Forum

Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware will be the exclusive forum for the following types of actions or proceedings under Delaware statutory or common law: (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a breach of fiduciary duty owed by any director, officer or other employee to us or our stockholders; (iii) any action asserting a claim against us or any director or officer or other employee arising pursuant to the Delaware General Corporation Law, our amended and restated certificate of incorporation or amended and restated bylaws; or (iv) any action asserting a claim against us or any director or officer or other employee that is governed by the internal affairs doctrine. This provision would not apply to claims brought to enforce a duty or liability created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. Our amended and restated certificate of incorporation further provides that the federal district courts of the United States of America will be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act, subject to and contingent upon a final adjudication in the State of Delaware of the enforceability of such exclusive forum provision.

Transfer Agent and Registrar

Our transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. The transfer agent’s address is 6201 15th Avenue, Brooklyn, New York 11219.

The Nasdaq Global Select Market

Our common stock is listed on the Nasdaq Global Select Market under the trading symbol “NGM.”Exhibit
10.1

 

ASSIGNMENT
AGREEMENT

 

This
Assignment Agreement (the “Agreement”), dated as of March 6, 2020, is being entered into among Sylios Corp (the “Assignor”)
and Armada Investment Fund, LLC (the “Assignee”).

 

WHEREAS,
pursuant to a Securities Purchase Agreement dated January 13, 2020 (the “SPA”) between the Assignor as Purchaser and
Deep Green Waste and Recycling, Inc. a Wyoming corporation, as Company (the “Company”) the Assignor is the holder
of a convertible note, dated January 13, 2020 in the principal amount of $23,000 issued by the Company (the “Note”)
and warrant to purchase 262,500 shares of the Company’s common stock (the “Warrant”) and the Company and Assignor
are party to a Registration Rights Agreement dated June 13, 2020 (the “RRA”);

 

WHEREAS,
the Assignor desires to assign the Note, Warrant, all its rights under the SPA and all its rights under the RRA (the “Assigned
Interests”) to the Assignee;

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

 

ARTICLE
I

PURCHASE
AND SALE

 

1.1
The Closing. Subject to the terms and conditions set forth in this Agreement, the Assignor hereby sells, assigns, conveys,
and transfers to the Assignee the Assigned Interests, for a cash purchase price of $10,500.00 (the “Cash Purchase Price”)
and cancellation of an Amended and Restated Replacement Convertible Note dated February 12, 2019 in the principal amount of $21,5000
issued by the Assignor to the Assignee (together with the Cash Purchase Price, the “Purchase Price”), payable to the
Assignor at closing. The closing of the purchase and sale of the Assigned Interests (the “Closing”) shall take place
at the offices of Grushko & Mittman, P.C. The date of the Closing is hereinafter referred to as the “Closing Date.”
In the event the Closing Date (including receipt of payment by the Assignor) occurs after March 11, 2020, then the Assignor may
elect to cancel this Agreement.

 

1.2
Deliveries. At the Closing, the parties shall deliver or shall cause to be delivered the following to the other parties:

 

(A)
Assignor shall deliver the Acknowledgment of the Company annexed hereto as Exhibit B; and

 

(B)
Assignee shall deliver the Purchase Price via wire pursuant to instructions provided by the Assignor.

 

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ARTICLE
II

REPRESENTATIONS
AND WARRANTIES

 

2.1
Representations and Warranties of the Assignor. The Assignor hereby makes the following representations and warranties:

 

(A)
Authorization; Enforcement. The Assignor has the requisite power and authority to enter into and to consummate the transactions
contemplated by this transaction and otherwise to carry out its obligations thereunder. The execution and delivery of each of
the documents by the Assignor and the consummation by him of the transactions contemplated hereby have been duly authorized. Each
of the documents contemplated by this transaction has been duly executed by the Assignor and, when delivered in accordance with
the terms hereof, will constitute the valid and binding obligation of the Assignor enforceable against the Assignor in accordance
with its terms.

 

(B)
Ownership. The Assignor owns and is selling, assigning, conveying and transferring to the Assignee all of his right, title
and interest to the Assigned Interests, free and clear of all liens, mortgages, pledges, security interests, encumbrances or charges
of any kind or description and upon consummation of the transaction contemplated herein good title in the Assigned Interests shall
vest in Assignee, free of all liens and other charges.

 

(C)
No Consents, Approvals, Violations or Breaches. Neither the execution and delivery of this Agreement by the Assignor, nor
the consummation by the Assignor of the transactions contemplated hereby, will (i) require any consent, approval, authorization
or permit of, or filing, registration or qualification with or prior notification to, any governmental or regulatory authority
under any law of the United States, any state or any political subdivision thereof applicable to the Assignor, (ii) violate any
statute, law, ordinance, rule or regulation of the United States, any state or any political subdivision thereof, or any judgment,
order, writ, decree or injunction applicable to the Assignor or any of the Assignor’s properties or assets, the violation
of which would have a material adverse effect upon the Assignor, or (iii) violate, conflict with, or result in a breach of any
provisions of, or constitute a default (or any event which, with or without due notice or lapse of time, or both, would constitute
a default) under, or result in the termination of, or accelerate the performance required by, any of the terms, conditions or
provisions of any note, bond, mortgage, indenture, deed of trust, license, lease, agreement or other instrument or obligation
to which the Assignor is a party or by which the Assignor or any of the Assignor’s properties or assets may be bound which
would have a material adverse effect upon the Assignor except for the consent of the Company which is being given by the Company
in Section 2.3(A) of this Agreement.

 

(D)
Assignor Status. The Assignor is not now and has not been for the previous three (3) months an affiliate or control person
of the Company.

 

2.2
Representations and Warranties of the Assignee. Assignee represents and warrants as follows:

 

(A)
Due Diligence. Assignee acknowledges that upon execution of this Agreement, it has completed its own investigation and
undertaken any and all due diligence it requires in order to satisfy itself to enter into this Agreement and perform its obligations
hereunder.

 

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(B)
No Consents, Approvals, Violations or Breaches. Neither the execution and delivery of this Agreement by Assignee, nor the
consummation by Assignee of the transactions contemplated hereby, will (i) require any consent, approval, authorization or permit
of, or filing, registration or qualification with or prior notification to, any governmental or regulatory authority under any
law of the United States, any state or any political subdivision thereof or any other jurisdiction applicable to Assignee, (ii)
violate any statute, law, ordinance, rule or regulation of the United States any state or any political subdivision thereof or
any other jurisdiction applicable to Assignee, or any judgment, order, writ, decree or injunction applicable to Assignee or any
of its properties or assets, the violation of which would have a material adverse effect upon Assignee, or (iii) violate, conflict
with, or result in a breach of any provisions of, or constitute a default (or any event which, with or without due notice or lapse
of time or both would constitute a default) under, or result in the termination of, or accelerate the performance required by,
any of the terms, conditions or provisions of any note, bond, mortgage, indenture, deed of trust, license, lease, agreement or
other instrument or obligation to which Assignee is a party or by which Assignee or any of its properties or assets may be bound
which would have a material adverse effect upon Assignee.

 

(C)
Assignee (i) is an “accredited investor,” as that term is defined in Regulation D under the Securities Act of 1933,
as amended (the “Securities Act”); (ii) has such knowledge, skill and experience in business and financial
matters, based on actual participation, that Assignee is capable of evaluating the merits and risks of an investment in the Company
and the suitability thereof as an investment for Assignee; (iii) has received such documents and information as it has requested
and has had an opportunity to ask questions of representatives of the Assignor concerning the terms and conditions of the investment
proposed herein, and such questions were answered to the satisfaction of Assignee; (iv) is in a financial position to hold the
Assigned Interests for an indefinite time and is able to bear the economic risk and withstand a complete loss of its investment
in the Company; and (v) has not made an overall commitment to investments which are not readily marketable which is disproportionate
so as to cause such overall commitment to become excessive.

 

(D)
Assignee understands that the Assigned Interests has not been registered under applicable state or federal securities laws and
is purchasing the Assigned Interests pursuant to an exemption from the registration requirements of the Securities Act.

 

ARTICLE
III

GENERAL
MATTERS

 

3.1.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur. The addresses for such communications shall be:

 

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	(a)	If
    to the Assignor, to: 	501
    1st Ave N., Suite 901
	 	 	St.
    Petersburg, FL 33701
	 	 	 
	(b)	If
    to the Assignee, to: 	7703
    Springfield Lake Drive
	 	 	Lake
    Worth, FL 33467

 

or
to such other address as any of them shall give to the others by notice made pursuant to this Section 3.1.

 

3.2.
Assignment; Binding Agreement. Neither this Agreement nor any right or obligation hereunder shall be assignable by any
party without the prior written consent of the other parties hereto. This Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective legal representatives, successors and assigns.

 

3.3.
Invalidity. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance,
is held invalid, illegal, or unenforceable in any respect for any reason, the validity, legality and enforceability of any such
provision in every other respect and of the remaining provisions contained herein shall not be in any way impaired thereby, it
being intended that all of the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted
by law.

 

3.4.
Counterparts/Execution. This Agreement may be executed in any number of counterparts and by different signatories hereto
on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute
but one and the same instrument. This Agreement may be executed by facsimile transmission and delivered by facsimile transmission.

 

3.5.
Agreement. Each of the undersigned states that he or it has read the foregoing Agreement and understands and agrees to
it.

 

3.6.
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in New York County, New York, for the adjudication of any dispute hereunder or in connection herewith or with any
transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action
or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding
is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by
law. Each party irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any
legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If any party shall commence
an action or proceeding to enforce any provisions of the documents contemplated herein, then the prevailing party in such action
or proceeding shall be reimbursed by the party determined not to have prevailed for his or its attorney’s fees and other
costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

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3.7.
Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing.

 

3.8.
No Waiver. The waiver by any party of the breach of any of the terms and conditions of, or any right under, this Agreement
shall not be deemed to constitute the waiver of any other breach of the same or any other term or condition or of any similar
right. No such waiver shall be binding or effective unless expressed in writing and signed by the party giving such waiver.

 

3.9.
Construction. The article and section headings contained in this Agreement are inserted for reference purposes only and
shall not affect the meaning or interpretation of this Agreement.

 

3.10.
Further Assurances. Each party will execute and deliver such further agreements, documents and instruments and take such
further action as may be reasonably requested by any other party to carry out the provisions and purposes of this Agreement.

 

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OF THIS PAGE LEFT INTENTIONALLY BLANK]

 

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IN
WITNESS WHEREOF, the parties hereto have caused this Assignment Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

ASSIGNEE

 

	Armada
    Investment Fund, LLC	 
	 	 	 
	 	/s/
    Gabriel Berkowitz	 
	By:	Gabriel
    Berkowitz	 
	Its:	Managing
    Member	 

 

ASSIGNOR

 

	Sylios
    Corp	 
	 	 
	 	/s/
    Jimmy Wayne Anderson	 
	By:	Jimmy
    Wayne Anderson	 
	Its:	President	 

 

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