Document:

Exhibit
4.3

  

DESCRIPTION
OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

As
of March 26, 2020, Wize Pharma, Inc. (the “Company”, “we”, “us” or “our”)
has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), Common Stock, par value $0.001 per share (the “Common Stock”). The Common Shares are listed on The Nasdaq
Capital Market under the symbol “WIZP”. The following is a summary of some of the terms of the Company’s Common
Shares, This summary is not complete and is subject to and qualified in its entirety by reference to the Company’s Restated
Certificate of Incorporation (the “Articles”) and Amended and Restated Bylaws (the “Bylaws”). The terms
of the Common Shares are also subject to and qualified by the applicable Delaware law.

 

Authorized
Capital Stock

 

Under
our Articles, we are authorized to issue up to five hundred million (500,000,000) shares of Common Stock, and one million (1,000,000)
shares of preferred stock, no par value per share (the “Preferred Stock”).

 

Common
Stock

 

Holders
of our Common Stock are entitled to one vote for each share held on all matters submitted to a vote of our stockholders. Holders
of our Common Stock have no cumulative voting rights. Further, holders of our Common Stock have no preemptive or conversion rights
or other subscription rights. Upon our liquidation, dissolution or winding-up, holders of our Common Stock are entitled to share
in all assets remaining after payment of all liabilities and the liquidation preferences of any of our outstanding shares of preferred
stock. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of our Common Stock
are entitled to receive dividends, if any, as may be declared from time to time by our Board of Directors (the “Board”)
out of our assets which are legally available. Such dividends, if any, are payable in cash, in property or in shares of capital
stock.

 

The
holders of shares of our Common Stock are entitled to cast at least 331⁄3 of the total votes entitled to be cast by the holders
of all of our outstanding capital stock, present in person or by proxy, are necessary to constitute a quorum at any meeting. If
a quorum is present, an action by stockholders entitled to vote on a matter is approved if the number of votes cast in favor of
the action exceeds the number of votes cast in opposition to the action, with the exception of the election of directors, which
requires a plurality of the votes cast, represented in person or by proxy, necessary to constitute a quorum for the transaction
of business at any meeting. If a quorum is present, an action by stockholders entitled to vote on a matter is approved if the
number of votes cast in favor of the action exceeds the number of votes cast in opposition to the action, with the exception of
the election of directors, which requires a plurality of the votes cast.

 

Preferred
Stock

 

The
Preferred Stock may be issued without stockholder approval, from time to time in one or more series, each series to be appropriately
designated by a distinguishing letter or title prior to the issuance of any shares thereof, as determined by our Board. Our Articles
expressly authorizes (subject to the rights of the holders of any series of preferred stock pursuant to the terms of our Articles
or any resolution or resolutions providing for the issuance of such series of stock adopted by the Board) the increase or decrease
(but not below the number of shares of such series then outstanding) of the number of shares of any series subsequent to the issuance
of shares of that series by the affirmative vote of the holders of a majority of the Common Stock irrespective of the provisions
of Section 242(b)(2) of the DGCL.

 

Our
Board may authorize the issuance of Preferred Stock with voting or conversion rights that could harm the voting power or other
rights of the holders of the Common Stock. The issuance of Preferred Stock, while providing flexibility in connection with possible
acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change
in control of us and might harm the market price of our Common Stock and the voting and other rights of the holders of Common
Stock.

 

     

     

    

 

Series
A Preferred Stock

 

On
October 22, 2018, the Company filed a Certificate of Designations of Series A Preferred Stock (the “Series A Certificate
of Designations”) with the Secretary of State of Delaware. Pursuant to the Series A Certificate of Designations, the
Company designated 1,350 shares of preferred stock as Series A Preferred Stock. The Series A Preferred Stock has a stated value
of $1,000 per share and is convertible into shares of Common Stock in an amount determined by dividing the stated value of $1,000
by the conversion price of $1.00, such that each share of Series A Preferred Stock is convertible into 1,000 shares of Common
Stock. The Series A Preferred Stock may not be converted into Common Stock to the extent such conversion would cause the holder
to beneficially own more than 4.99% (or 9.99%, at the election of the investor) of the Company’s outstanding Common Stock.
The Series A Preferred Stock is entitled to dividends on an as-converted basis with the Common Stock. The Series A Preferred Stock
votes with the Common Stock on an as-converted basis, subject to the beneficial ownership limitation.

 

Series
B Preferred Stock

 

On
February 18, 2020, the Company filed a Certificate of Designations of Series B Non-Voting Redeemable Preferred Stock (the “Series
B Certificate of Designations”) with the Secretary of State of Delaware. Pursuant to the Series B Certificate of Designations,
the Company designated 7,500 shares of preferred stock as Series B Preferred Stock. The Series B Preferred Stock are not convertible
into shares of common stock of the Company and have no voting powers, except as related to certain rights to protect the rights
and preferences of the Series B Preferred Stock and with respect to sales or dispositions of the Series B Preferred Stock at a
price per share below the Price Restriction. The Series B Preferred Stock entitles its holders to (i) 80% of the proceeds received
by the Company through future sales of the Bonus Shares issued to the Company under the Bonus Agreements and (ii) 80% of any cash
dividends received by the Company on such Bonus Shares. Under the Series B Certificate of Designations, the Company has the option
to redeem the Series B Preferred Stock at any time by distributing to holders of the Series B Preferred Stock (i) 80% of the Bonus
Shares then held by the Company and (ii) 80% of all dividends received by the Company but not yet paid to holders of the Series
B Preferred Stock (the “Redemption Payment”). The Company is required to redeem the Series B Preferred Stock
through payment of the Redemption Payment upon the earlier of (i) 60 days following the Nasdaq Listing, and (ii) December 28,
2020.

Anti-Takeover
Provisions of Delaware Law, Our Articles and Bylaws

 

The
provisions of Delaware law, our Articles and our Bylaws could discourage or make it more difficult to accomplish a proxy contest
or other change in our management or the acquisition of control by a holder of a substantial amount of our voting stock. It is
possible that these provisions could make it more difficult to accomplish, or could deter, transactions that stockholders may
otherwise consider to be in their best interests or in our best interests. These provisions are intended to enhance the likelihood
of continuity and stability in the composition of our Board and in the policies formulated by our Board and to discourage certain
types of transactions that may involve an actual or threatened change of our control. These provisions are designed to reduce
our vulnerability to an unsolicited acquisition proposal and to discourage certain tactics that may be used in proxy fights. Such
provisions also may have the effect of preventing changes in our management.

 

Delaware
Statutory Business Combinations Provision

 

We
are subject to the anti-takeover provisions of Section 203 of the DGCL. Section 203 prohibits a publicly-held Delaware corporation
from engaging in a “business combination” with an “interested stockholder” for a period of three (3) years
after the date of the transaction in which the person became an interested stockholder, unless the business combination is, or
the transaction in which the person became an interested stockholder was, approved in a prescribed manner or another prescribed
exception applies. For purposes of Section 203, a “business combination” is defined broadly to include a merger, asset
sale or other transaction resulting in a financial benefit to the interested stockholder, and, subject to certain exceptions,
an “interested stockholder” is a person who, together with his or her affiliates and associates, owns, or within three
(3) years prior, did own, 15% or more of the corporation’s voting stock.

 

Advance
Notice Provisions for Stockholder Proposals and Stockholder Nominations of Directors

 

Our
Bylaws provide that, for nominations to our Board or for other business to be properly brought by a stockholder before a meeting
of stockholders, the stockholder must first have given timely notice of the proposal in writing to our secretary at our principal
offices. For an annual meeting, a stockholder’s notice generally must be delivered not less than 45 days nor more than 75
days prior to the one-year anniversary of the date on which we first mailed our proxy materials for the preceding year’s
annual meeting of stockholders. For an annual meeting, the notice must generally be delivered not later than the close of business
on the later of the 90th day prior to such annual meeting or the 10th day following the day on
which public announcement is first made. Detailed requirements as to the form of the notice and information required in the notice
are specified in our Bylaws. If it is determined that business was not properly brought before a meeting in accordance with our
Bylaws, such business will not be conducted at the meeting.

 

     

     

    

 

Special
Meetings of Stockholders

 

Special
meetings of the stockholders may be called only by either (i) the chairman of our Board, chief executive officer, or the president,
(ii) by our Board pursuant to a resolution adopted by a majority of the total number of directors which we would have if there
were no vacancies, or (iii) by the holders of 20% of the total votes entitled to be cast by the holders of all our outstanding
capital stock entitled to vote generally in an election of directors.

 

Stockholder
Action by Written Consent

 

Each
of our Articles and our Bylaws permit our stockholders to act by written consent.

 

Super
Majority Stockholder Vote Required for Certain Actions

 

The
DGCL generally provides that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend
a corporation’s certificate of incorporation or bylaws, unless the corporation’s certificate of incorporation or bylaws,
as the case may be, requires a greater percentage. Our Articles requires the affirmative vote of the holders of at least 661⁄3
of our outstanding voting stock to amend or repeal any provision of the our Bylaws or any amend or repeal any provision of our
Articles relating to limitation of director liability, indemnification and advancement of expenses or amendments to our Articles
or our Bylaws. All other provisions of our Articles may be amended or repealed by a simple majority vote of our Board.

 

Transfer
Agent and Registrar

 

The
transfer agent and registrar for our Common Stock is VStock Transfer LLC.Exhibit 10.1

 

FIRST AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of March 27, 2020 (the “First
Amendment Effective Date”), is made by and among PURPLE INNOVATION, LLC, a Delaware limited liability company (“Borrower”)
and COLISEUM CAPITAL PARTNERS, L.P. (“CCP”), BLACKWELL PARTNERS LLC-Series A (“Blackwell”),
COLISEUM CO-INVEST DEBT FUND, L.P. (together with CCP and Blackwell, “Lenders”). Capitalized terms used
but not otherwise defined herein shall have the meanings provided in the Amended and Restated Credit Agreement (as defined herein).

 

W I T N E S S E T H

 

WHEREAS, reference
is hereby made to that certain Amended and Restated Credit Agreement by and among Borrower and Lenders party thereto, dated as
of February 26, 2019 (as may be further amended, restated, amended and restated, supplemented or otherwise modified from time to
time, the “Amended and Restated Credit Agreement”); and

 

WHEREAS, Borrower
and Lenders have agreed to amend the Amended and Restated Credit Agreement as set forth herein.

 

NOW, THEREFORE,
in consideration of the premises, the covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the parties do hereby agree as follows:

 

STATEMENT OF TERMS

1.        Amendment.
The penultimate paragraph of Section 1.2(a) of the Amended and Restated Credit Agreement is hereby amended by deleting such paragraph
in its entirety and replacing it with the following:

 

“At the election
of Borrower (i) for the interest payments due on March 31, 2020 and June 30, 2020, interest (including, without limitation, Additional
Interest and S-X Additional Interest (but not, for the avoidance of doubt, default interest pursuant to Section 1.2(b) below)),
in lieu of being paid in cash, may be capitalized and added to the principal amount of the Loan and (ii) for all other interest
payments due prior to the Maturity Date, interest (including, without limitation, Additional Interest and S-X Additional Interest
(but not, for the avoidance of doubt, default interest pursuant to Section 1.2(b) below)) in excess of 5.0% per annum may, in lieu
of being paid in cash, be capitalized and added to the principal amount of the Loan; in each case, ratably owing to the Lenders
based on their respective loan percentages as set forth on Schedule 1.1 hereto). To the extent the Borrower does not pay interest
in cash on or before the applicable Interest Payment Date (as defined below), Borrower shall be deemed to have made the election
contemplated in the foregoing sentence.”

2.       Representations
and Warranties. To induce Lenders to enter into this Amendment, Borrower and Parent Guarantor hereby represent and warrant
to each Lender as follows: (a) each representation and warranty set forth in the Amended and Restated Credit Agreement is true
and correct in all material respects (without duplication of any materiality qualifiers already set forth therein) as of the date
of the Amended and Restated Credit Agreement (except to the extent such representation or warranty relates to an earlier date,
in which case such representation or warranty shall be true and correct in all material respects (without duplication of any materiality
qualifiers already set forth therein) on and as of such earlier date); (b) no Default or Event of Default has occurred and after
giving effect to this Amendment, no Default or Event of Default will exist or be continuing as of the date hereof; (c) Borrower
and Parent Guarantor each has the power and is duly authorized to enter into, deliver and perform this Amendment and to perform
its obligations under the Amended and Restated Credit Agreement; and (d) each of this Amendment and the Amended and Restated Credit
Agreement constitutes the legal, valid and binding obligation of Borrower and Parent Guarantor enforceable against each in accordance
with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or other similar laws affecting creditors’
rights generally or equitable principles relating to enforceability.

    

     

    

3.        Conditions
Precedent to Effectiveness of this Amendment. The effectiveness of this Amendment is subject to the fulfillment of the
following conditions precedent, as determined by Lenders:

            (a)       Lenders
shall have received a duly executed copy of this Amendment; and

            (b)       no Default or
Event of Default shall have occurred and be continuing after or shall be caused as a result of giving effect to this Amendment.

4.        Continuing
Effect of Amended and Restated Credit Agreement. Except as expressly amended and modified hereby, the provisions of the
Amended and Restated Credit Agreement, are and shall remain in full force and effect, and are hereby ratified and confirmed by
Borrower and Parent Guarantor.

5.        Release.
In consideration of the agreements of Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, each of Borrower and Parent Guarantor, on behalf of itself and its successors and assigns (individually,
a “Releasing Party”, and collectively, the “Releasing Parties”), hereby absolutely,
unconditionally and irrevocably releases, remises and forever discharges Lenders and their successors and assigns, and their respective
present and former affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other
representatives (each of Lenders and all such other Persons being hereinafter referred to collectively as the “Releasees”
and individually as a “Releasee”), of and from all demands, actions, causes of action, suits, covenants,
contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims,
counterclaims, defenses, rights of set off, demands and liabilities (collectively, “Claims”) whatsoever
of every name and nature, known or unknown, suspected or unsuspected, both at law and in equity, which the Releasing Parties or
any of them may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason
of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment
for or on account of, or in relation to, or in any way in connection with the Obligations, the Amended and Restated Credit Agreement
or any of the Loan Documents, or transactions, course of performance or course of dealing thereunder or related thereto; provided
that, in each case, the foregoing release shall not apply to (a) Claims of fraud or willful misconduct or (b) Claims against any
Releasee in such Releasee’s capacity as a holder of Equity Interests in Borrower or Parent Guarantor.

6.        Amended
and Restated Credit Agreement Provisions. THIS AMENDMENT SHALL BE SUBJECT TO THE PROVISIONS REGARDING GOVERNING
LAW SET FORTH IN SECTION 8.10 OF THE AMENDED AND RESTATED CREDIT AGREEMENT AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY REFERENCE,
MUTATIS MUTANDIS.

7.        Counterparts.
This Amendment is a Loan Document and may be executed in multiple counterparts, each of which shall be deemed to be an original
and all of which when taken together shall constitute one and the same instrument. Any signature delivered by a party via facsimile
or other electronic delivery shall be deemed to be an original signature hereto.

 

[Signatures on Following Pages]

 

    

     

    

 

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

 

               BORROWER:

 

                PURPLE INNOVATION, LLC,

                a Delaware limited liability company

 

                By: /s/ Casey K. McGarvey

                Name:Casey K. McGarvey

                Title:CLO

 

 

                PARENT GUARANTOR:

 

                PURPLE INNOVATION, INC.,

                a Delaware corporation

 

                By: /s/ Casey K. McGarvey

                Name:Casey K. McGarvey

                Title:CLO

 

    

     

    

 

 

LENDERS:

COLISEUM CAPITAL PARTNERS, L.P.

By: Coliseum Capital, LLC, its General Partner

By:/s/ Christopher Shackelton

Name: Christopher Shackelton

Title: Manager

BLACKWELL PARTNERS LLC –
Series A

By: Coliseum Capital Management, LLC, its Attorney-in-Fact

By:/s/
Christopher Shackelton 

Name: Christopher Shackelton

Title: Manager Partner

COLISEUM CO-INVEST DEBT FUND,
L.P.

By: Coliseum Capital, LLC, its General Partner 

By:/s/ Christopher Shackelton

Name: Christopher Shackelton

Title: Manager

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