Document:

EX10.11

 Exhibit 10.11 

EXECUTION VERSION 
  

 
 GREAT BASIN SCIENTIFIC, INC. 

SERIES D PREFERRED STOCK 

AND WARRANT PURCHASE AGREEMENT 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 1. Purchase and Sale of Stock
	  	 	1	  
	 1.1 Sale and Issuance of Series D Preferred Stock and Warrants
	  	 	1	  
	 1.2 Closings
	  	 	2	  
		
	 2. Representations and Warranties of the Company
	  	 	2	  
	 2.1 Organization, Good Standing and Qualification
	  	 	2	  
	 2.2 Capitalization and Voting Rights
	  	 	3	  
	 2.3 Subsidiaries
	  	 	3	  
	 2.4 Authorization
	  	 	3	  
	 2.5 Valid Issuance of Securities
	  	 	4	  
	 2.6 Governmental Consents
	  	 	4	  
	 2.7 Offering
	  	 	4	  
	 2.8 Litigation
	  	 	4	  
	 2.9 Proprietary Information
	  	 	5	  
	 2.10 Patents and Trademarks
	  	 	5	  
	 2.11 Compliance with Laws and Other Instruments
	  	 	5	  
	 2.12 Agreements; Action
	  	 	6	  
	 2.13 Related-Party Transactions
	  	 	6	  
	 2.14 Permits
	  	 	7	  
	 2.15 Tax Returns and Payments
	  	 	7	  
	 2.16 Financial Statements
	  	 	7	  
	 2.17 Changes Since Statement Date
	  	 	7	  
	 2.18 Title to Properties and Assets; Liens
	  	 	8	  
	 2.19 Books and Records
	  	 	8	  
		
	 3. Representations and Warranties of the Investors
	  	 	8	  
	 3.1 Authorization
	  	 	8	  
	 3.2 Purchase Entirely for Own Account
	  	 	9	  
	 3.3 Disclosure of Information
	  	 	9	  
	 3.4 Investment Experience
	  	 	9	  
	 3.5 Accredited Investor
	  	 	9	  
	 3.6 Restricted Securities
	  	 	9	  
	 3.7 Further Limitations on Disposition
	  	 	10	  
	 3.9 Legends
	  	 	10	  
		
	 4. Conditions of Investors’ Obligations at Closing
	  	 	10	  
	 4.1 Representations and Warranties
	  	 	10	  
	 4.2 Performance
	  	 	10	  
	 4.3 Board of Directors
	  	 	10	  
	 4.4 Investors’ Rights Agreement
	  	 	11	  
	 4.5 Voting Agreement
	  	 	11	  
	 4.6 Restated Certificate
	  	 	11	  
	 4.7 Secretary’s Certificate
	  	 	11	  

  
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	 5. Conditions of the Company’s Obligations at Closing
	  	 	11	  
	 5.1 Representations and Warranties
	  	 	11	  
	 5.2 Payment of Purchase Price
	  	 	11	  
	 5.3 Qualifications
	  	 	11	  
	 5.4 Investors’ Rights Agreement
	  	 	11	  
	 5.5 Voting Agreement
	  	 	11	  
		
	 6. Miscellaneous
	  	 	11	  
	 6.1 Successors and Assigns
	  	 	11	  
	 6.2 Governing Law
	  	 	12	  
	 6.3 Counterparts
	  	 	12	  
	 6.4 Titles and Subtitles
	  	 	12	  
	 6.5 Notices
	  	 	12	  
	 6.6 Expenses
	  	 	12	  
	 6.7 Amendments and Waivers
	  	 	12	  
	 6.8 Severability
	  	 	12	  
	 6.9 Corporate Securities Law
	  	 	13	  
	 6.10 Entire Agreement
	  	 	13	  
	 6.11 Exculpation Among Investors
	  	 	13	  
	 6.12 Attorneys’ Fees
	  	 	13	  
	 6.13 Delays or Omissions
	  	 	13	  

  

			
	SCHEDULE 1	  	Schedule of Investors
	SCHEDULE 2	  	Schedule of Exceptions
		
	EXHIBIT A	  	Sixth Amended and Restated Certificate of Incorporation
	EXHIBIT B	  	Third Amended and Restated Investors’ Rights Agreement
	EXHIBIT C	  	Amended and Restated Voting Agreement
	EXHIBIT D	  	Form of Class A Warrant
	EXHIBIT E	  	Form of Class B Warrant

  
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 GREAT BASIN SCIENTIFIC, INC. 

AMENDED AND RESTATED 

SERIES D PREFERRED STOCK AND WARRANT PURCHASE AGREEMENT 

THIS AMENDED AND RESTATED SERIES D PREFERRED STOCK AND WARRANT PURCHASE AGREEMENT (this “Agreement”) is made as of the 30th day of
July, 2014 by and among Great Basin Scientific, Inc., a Delaware corporation (the “Company”), and the investors, severally and not jointly, listed on Schedule 1 hereto, each of which is herein referred to as an
“Investor.” 
 THE PARTIES HEREBY AGREE AS FOLLOWS: 

1. Purchase and Sale of Stock and Warrants. 

1.1 Sale and Issuance of Series D Preferred Stock and Warrants. 

(a) The Company shall adopt and file with the Secretary of State of Delaware on or before the First Closing (as defined below) the Sixth
Amended and Restated Certificate of Incorporation, in the form attached hereto as Exhibit A (the “Restated Certificate”). 

(b) On or prior to the First Closing, the Company shall have authorized (i) the sale and issuance to the Investors of (A) up to
325,000,000 shares of the Company’s Series D Preferred Stock (the “Series D Preferred Stock”) (the “Shares”), (B) Class A Warrants (the “Class A Warrants”) to purchase up to 325,000,000 shares of Common
Stock (as defined below) (the “Class A Warrant Shares”), with such Class A Warrants having the per share exercise price, exercise period and other terms and conditions set forth in the form of Class A Warrant attached as
Exhibit D hereto, (C) Class B Warrants (the “Class B Warrants” and, together with the Class A Warrants the “Warrants” and, together with the Class A Warrants and the Shares, the “Securities”) to
purchase up to 325,000,000 shares of Common Stock (the “Class B Warrant Shares” and, together with the Class A Warrant Shares, the “Warrant Shares”), with such Class B Warrants having the per share exercise price, exercise
period and other terms and conditions set forth in the form of Class B Warrant attached as Exhibit E hereto, and (ii) the issuance of the Warrant Shares and the shares of Common Stock to be issued upon conversion of the Shares (together,
the “Conversion Shares”). The Series D Preferred Stock and the Common Stock shall have the rights, preferences, privileges and restrictions set forth in the Restated Certificate. 

(c) Subject to the terms and conditions of this Agreement, each Investor agrees, severally and not jointly, to purchase at the Closing and the
Company agrees to sell and issue to each Investor at the Closing (i) that number of shares of Series D Preferred Stock set forth opposite such Investor’s name on Schedule 1 hereto for the purchase price of $0.025 per share (the
“Purchase Price”) and (ii) in further consideration of the Purchase Price, (A) a Class A Warrant to purchase the number of Class A Warrant Shares set forth in the column designated “Number of Class A Warrant
Shares” opposite such Investor’s name on Schedule 1  

 
hereto and (B) a Class B Warrant to purchase the number of Class B Warrant Shares set forth in the column designated “Number of Class B Warrant Shares” opposite such
Investor’s name on Schedule I hereto. 
 1.2 Closings. 

(a) The initial purchase and sale of the Securities shall take place at the offices of Dorsey & Whitney LLP, 136 So. Main Street,
Suite 1000, Salt Lake City, Utah 84101 on the date hereof (which time and place are designated as the “First Closing”). 
 (b)
Subject to the terms and conditions set forth in this Agreement, from time to time the Company may sell in one or more additional closings the remainder, if any, of the Securities authorized for sale hereunder but not sold and issued at the First
Closing (each a “Subsequent Closing”). Any such sale shall be made upon the same terms and conditions as those set forth herein, and each Investor in a Subsequent Closing shall become a party to this Agreement (and Schedule 1 hereto
shall be updated to include such Investor). The First Closing and each Subsequent Closing shall be deemed a “Closing” for purposes of this Agreement. Each Investor hereby waives any rights of first refusal and notice it may have in
connection with the sale of the Securities to subsequent Investors hereunder. At each Closing, the Company will promptly issue the applicable Securities to such Investor. 

(c) In connection with each Closing, each Investor participating in such Closing shall become a party to the Third Amended and Restated
Investors’ Rights Agreement in the form attached hereto as Exhibit B (the “Investors’ Rights Agreement”) and the Amended and Restated Voting Agreement attached hereto as Exhibit C (the “Voting Agreement”).
At each Closing the Company shall deliver to each Investor participating in such Closing (i) a certificate representing the Shares that such Investor purchased in such Closing, (ii) a Class A Warrant to purchase the number of
Class A Warrant Shares that such Investor purchased in such Closing and (iii) a Class B Warrant to purchase the number of Class B Warrant Shares that such Investor purchased in such Closing, against payment of the purchase price therefor
by check, wire transfer, cancellation of indebtedness, or any combination thereof. In the event that payment by an Investor is made, in whole or in part, by cancellation of indebtedness, then such Investor shall surrender to the Company for
cancellation at the Closing any evidence of such indebtedness or shall execute an instrument of cancellation in form and substance acceptable to the Company. 

2. Representations and Warranties of the Company. The Company hereby represents and warrants as to each Investor that, as of the date
of the First Closing, except as set forth on a Schedule of Exceptions attached hereto as Schedule 2 (the “Schedule of Exceptions”). 

2.1 Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing
in each jurisdiction in which the failure to so qualify could reasonably be expected to have a material adverse effect on its business or properties. 

  
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 2.2 Capitalization and Voting Rights. The authorized capital of the Company, immediately
after the investment to be made by Hitachi Chemical Co., Ltd. and assuming the conversion of all outstanding convertible promissory notes as of the date hereof, will consist of: 

(a) Preferred Stock. 754,357,858 shares of Preferred Stock, par value $0.001 (the “Preferred Stock”), 119,987,898 of which
have been designated Series A Preferred Stock, 107,881,171 shares of which will be issued and outstanding; 59,465,350 of which have been designated Series B Preferred Stock, 59,465,350 shares of which will be issued and outstanding; 165,877,435 have
been designated Series C Preferred Stock, 165,877,435 shares of which will be issued and outstanding; 84,027,175 of which have been designated Series C-1 Preferred Stock, 84,027,175 shares of which will be issued and outstanding; and 325,000,000 of
which have been designated Series D Preferred Stock, 306,070,670 shares of which will be issued and outstanding. The rights, privileges and preferences of the Series D Preferred Stock will be as stated in the Restated Certificate. 

(b) Common Stock. 1,800,000,000 shares of Common Stock, par value $0.001 (the “Common Stock”), 32,368,715 shares of which
will be issued and outstanding. 
 (c) The outstanding shares of Common Stock are all duly and validly authorized and issued, fully paid and
nonassessable, and were issued in accordance with the registration or qualification provisions of the Securities Act of 1933, as amended (the “Act”) and any relevant state securities laws, or pursuant to valid exemptions therefrom. 

(d) Except as set forth in Schedule 2.2 of the Schedule of Exceptions and except for (i) the conversion privileges of the Series A
Preferred Stock, Series B Preferred Stock, the Series C Preferred Stock and the Series C-1 Preferred Stock, (ii) the rights provided in Section 2.3 of an Investors’ Rights Agreement dated April 21, 2014, by and among the Company
and the investors listed on Schedule A thereto, and (iii) outstanding options and warrants to purchase 941,513,455 shares of Common Stock, outstanding warrants to purchase 2,231,727 of Series A Preferred Stock and 7,422,662 of Series D
Preferred Stock, there will not be any outstanding options, warrants, rights (including conversion or preemptive rights) or agreements for the purchase or acquisition from the Company of any shares of its capital stock. Except as described herein or
in a Voting Agreement dated April 21, 2014, by and among the Company and the investors listed on Schedule A thereto, the Company is not a party or subject to any agreement or understanding, and, to the best of the Company’s knowledge,
there is no agreement or understanding between any persons and/or entities, which affects or relates to the voting or giving of written consents with respect to any security or by a director of the Company. 

2.3 Subsidiaries. The Company does not presently own or control, directly or indirectly, any interest in any other corporation,
association, or other business entity. The Company is not a participant in any joint venture, partnership, or similar arrangement. 
 2.4
Authorization. All corporate action on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the Voting Agreement and the Investors’ Rights Agreement,
the performance of all obligations of the Company hereunder and thereunder, and the authorization, issuance (or reservation for issuance), sale and delivery of the Securities being sold hereunder and the

  
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Common Stock issuable upon conversion of the Shares and the exercise of the Warrants has been taken or will be taken prior to the Closing, and this Agreement, the Warrants, the Investors’
Rights Agreement and the Voting Agreement constitute valid and legally binding obligations of the Company, enforceable in accordance with their respective terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies,
(iii) as limited by laws relating to the enforceability of voting agreements and arrangements, and (iv) to the extent the indemnification provisions contained in the Investors’ Rights Agreement may be limited by applicable state or
federal laws.  
 2.5 Valid Issuance of Securities. The Securities that are being purchased by the Investors hereunder, when
issued, sold and delivered in accordance with the terms of this Agreement for the consideration expressed herein, will be duly and validly issued, fully paid, and nonassessable, and will be free of restrictions on transfer, other than restrictions
on transfer under this Agreement and the Investors’ Rights Agreement and under applicable state and federal securities laws. The Common Stock issuable upon conversion of the Shares and the exercise of the Warrants purchased under this Agreement
has been duly and validly reserved for issuance and, upon issuance in accordance with the terms of the Restated Certificate, will be duly and validly issued, fully paid, and nonassessable and will be free of restrictions on transfer other than
restrictions on transfer under this Agreement and the Investors’ Rights Agreement and under applicable state and federal securities laws. 

2.6 Governmental Consents. No consent, approval, order or authorization of, or registration, qualification, designation, declaration or
filing with, any federal, state or local governmental authority on the part of the Company is required in connection with the consummation of the transactions contemplated by this Agreement, except (a) the filing of the Restated Certificate
with the Secretary of State of Delaware; and (b) filings as may be required pursuant to applicable state securities laws and Regulation D of the Act. 

2.7 Offering. Subject in part to the truth and accuracy of each Investor’s representations set forth in Section 3 of this
Agreement, the offer, sale and issuance of the Securities as contemplated by this Agreement are exempt from the registration requirements of any applicable state and federal securities laws, and neither the Company nor any authorized agent acting on
its behalf will take any action hereafter that would cause the loss of such exemption. 
 2.8 Litigation. There is no action, suit,
proceeding or investigation pending or, to the Company’s knowledge, currently threatened against the Company that questions the validity of this Agreement, the Warrants, the Investors’ Rights Agreement, the Voting Agreement or the right of
the Company to enter into such agreements, or to consummate the transactions contemplated hereby or thereby, or that might result, either individually or in the aggregate, in any material adverse changes in the assets, condition, affairs or
prospects of the Company, financially or otherwise, or any change in the current equity ownership of the Company. The Company is not a party or to its knowledge subject to the provisions of any order, writ, injunction, judgment or decree of any
court or government agency or instrumentality. 

  
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There is no action, suit, proceeding or investigation by the Company currently pending or which the Company intends to initiate. 

2.9 Proprietary Information. Each current and former employee of the Company has executed a Proprietary Information and Inventions
Agreement (and has not excluded any works or inventions from the assignment of inventions contained therein). Each current and former consultant of the Company has executed a consulting agreement providing for the assignment of inventions (and has
not excluded any works or inventions from the assignment of inventions contained therein). The Company is not aware that any of its employees, officers or consultants is in violation thereof. To the Company’s knowledge, it will not be necessary
to use any inventions of any of its current or former employees or consultants (or persons it intends to hire) made prior to or outside the scope of their employment by the Company or consulting relationship with the Company. 

2.10 Patents and Trademarks. To its knowledge (but without having conducted any special investigation or patent or trademark search),
the Company has sufficient title and ownership of or licenses to all patents, trademarks, service marks, trade names, copyrights, trade secrets, information, proprietary rights and processes necessary for its business as now conducted without any
conflict with or infringement of the rights of others. Except as set forth in Section 2.10 of the Schedule of Exceptions, there are no outstanding options, licenses, or agreements of any kind relating to the foregoing, nor is the Company bound
by or a party to any options, licenses or agreements of any kind with respect to the patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, proprietary rights and processes of any other person or entity
(other than the license of the Company’s trademarks and products in the ordinary course of business). To the Company’s knowledge, the Company has not received any communications alleging that the Company has violated or, by conducting its
business as proposed, would violate any of the patents, trademarks, service marks, trade names, copyrights or trade secrets or other proprietary rights of any other person or entity. The Company is not aware that any of its employees is obligated
under any contract (including licenses, covenants or commitments of any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would interfere with the use of his or her best efforts to
promote the interests of the Company or that would conflict with the Company’s business as proposed to be conducted. 
 2.11
Compliance with Laws and Other Instruments. To its knowledge, the Company is not in violation of any provision of any federal or state statute, rule or regulation applicable to the Company. The Company is not in violation or default of any
provision of its Restated Certificate or Bylaws, or in any material respect of any lease, instrument, judgment, order, writ, decree or contract to which it is a party or by which it is bound. The execution, delivery and performance of this
Agreement, the Warrants, the Investors’ Rights Agreement and the Voting Agreement and the consummation of the transactions contemplated hereby and thereby will not result in any such violation or be in conflict with or constitute, with or
without the passage of time and giving of notice, either a default under any such federal or state statute, rule or regulation, instrument, judgment, order, writ, decree or contract or an event that results in the creation of any lien, charge
or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal of any material permit, license, 

  
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authorization, or approval applicable to the Company, its business or operations or any of its assets or properties. 

2.12 Agreements; Action. 

(a) Except for this Agreement, the Warrants, the Investors’ Rights Agreement, the Voting Agreement or as set forth in Section 2.12
of the Schedule of Exceptions, there are no agreements, understandings or proposed transactions between the Company and any of its officers, directors, affiliates, or any affiliate thereof. 

(b) Except as set forth in Section 2.12 of the Schedule of Exceptions, there are no agreements, understandings, instruments, contracts,
proposed transactions, judgments, orders, writs or decrees to which the Company is a party or by which it is bound that may involve (i) obligations (contingent or otherwise) of, or payments to the Company in excess of, $25,000 or (ii) the
transfer or license of any patent, copyright, trade secret or other proprietary right to or from the Company (other than the license of the Company’s software and products in the ordinary course of business); (iii) provisions restricting
or affecting the development, manufacture or distribution of the Company’s products or services; or (iv) indemnification by the Company with respect to infringements of third party intellectual property rights (other than in connection
with the license of the Company’s technology and products in the ordinary course of business). 
 (c) Except as set forth in
Section 2.12 of the Schedule of Exceptions, since January 1, 2010, the Company has not (i) declared or paid any dividends or authorized or made any distribution upon or with respect to any class or series of its capital stock,
(ii) except for convertible promissory notes, incurred any indebtedness for money borrowed or any other liabilities individually in excess of $25,000 or, in the case of indebtedness and/or liabilities individually less than $25,000, in excess
of $50,000 in the aggregate, (iii) made any loans or advances to any person, other than ordinary advances for travel expenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or rights, other than the sale of its
technology and products in the ordinary course of business. 
 (d) For the purposes of subsections (b) and (c) above, all
indebtedness, liabilities, agreements, understandings, instruments, contracts and proposed transactions involving the same person or entity (including persons or entities the Company has reason to believe are affiliated therewith) shall be
aggregated for the purpose of meeting the individual minimum dollar amounts of such subsections. 
 2.13
Related-Party Transactions. No employee, officer, or director of the Company or member of his or her immediate family is indebted to the Company, nor is the Company indebted (or committed to make loans
or extend or guarantee credit) to any of them. To the Company’s knowledge, none of such persons has any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a
business relationship, or any firm or corporation that competes with the Company, except that employees, officers, or directors of the Company and members of their immediate families may own stock in publicly traded companies that may compete with
the Company. No member of the immediate family of any officer or director of the Company is directly or indirectly interested in 

  
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any material contract or other business relationship with the Company or is an employee or consultant of the Company. 

2.14 Permits. The Company has all franchises, permits, licenses, and any similar authority necessary for the conduct of its business as
now being conducted by it, the lack of which would not reasonably be expected to materially and adversely affect the business, properties, prospects, or financial condition of the Company. The Company is not in default in any material respect under
any of such franchises, permits, licenses, or other similar authority. 
 2.15 Tax Returns and Payments. The Company has timely filed
all tax returns (federal, state and local) required to be filed by it. All taxes shown to be due and payable on such returns, any assessments imposed, and to the Company’s knowledge all other taxes due and payable by the Company on or before
the Closing have been paid or will be paid prior to the time they become delinquent. The Company has not been advised (i) that any of its tax returns, federal, state or other, have been or are being audited as of the date hereof; or
(ii) of any deficiency in assessment or proposed judgment to its federal, state or other taxes. The Company has no knowledge of any liability of any tax to be imposed upon its properties or assets as of the date of this Agreement that is not
adequately provided for. 
 2.16 Financial Statements. The Company has made available to each Investor its unaudited balance
sheet as at December 31, 2013 and unaudited statement of income and cash flows for the 12 months ending December 31, 2013 (the “Statement Date”) (collectively, the “Financial Statements”). The Financial Statements have
been prepared in accordance with generally accepted accounting principles consistently applied and in good faith in accordance with the books and records of the Company and fairly present the financial condition and operating results of the Company
as of the dates, and for the periods, indicated therein, subject to normal recurring year-end audit adjustments. 
 2.17 Changes Since
Statement Date. Except as set forth on Section 2.17 of the Schedule of Exceptions, since the Statement Date, there has not been to the Company’s knowledge: 

(a) Any change in the assets, liabilities, financial condition or operations of the Company from that reflected in the Financial Statements,
other than changes in the ordinary course of business, none of which individually or in the aggregate has had or is reasonably expected to have a material adverse effect on such assets, liabilities, financial condition or operations of the Company;

 (b) Any resignation or termination of any officer, key employee or group of employees of the Company; 

(c) Any material change, except in the ordinary course of business, in the contingent obligations of the Company by way of guaranty,
endorsement, indemnity, warranty or otherwise; 
 (d) Any damage, destruction or loss, whether or not covered by insurance, materially and
adversely affecting the properties, business or prospects or financial condition of the Company; 

  
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 (e) Any waiver by the Company of a valuable right or of a material debt owed to it; 

(f) Any material change in any compensation arrangement or agreement with any employee, officer, director or stockholder; 

(g) Any labor organization activity related to the Company; 

(h) Any sale, assignment, or exclusive license of any patents, trademarks, copyrights, trade secrets or other intangible assets; 

(i) Any change in any material agreement to which the Company is a party or by which it is bound which materially and adversely affects the
business, assets, liabilities, financial condition, operations or prospects of the Company; 
 (j) Any other event or condition of any
character that, either individually or cumulatively, has materially and adversely affected the business, assets, liabilities, financial condition or operations of the Company; or 

(k) Any arrangement or commitment by the Company to do any of the acts described in subsection (a) through (j) above. 

2.18 Title to Properties and Assets; Liens. The Company has good and marketable title to its properties and assets and good title to
its leasehold estates, in each case subject to no mortgage, pledge, lien, lease, encumbrance or charge, other than (a) those resulting from taxes which have not yet become delinquent, (b) minor liens and encumbrances which do not
materially detract from the value of the property subject thereto or materially impair the operations of the Company, and (c) those that have otherwise arisen in the ordinary course of business. With respect to the property and assets it
leases, the Company is in compliance with the material terms of such leases and, to its knowledge, holds a valid leasehold interest free and clear of any liens, claims or encumbrances other than to the lessors or such property of assets. All
facilities, machinery, equipment, fixtures and other properties owned, leased or used by the Company are in good operating condition and repair and are reasonably fit and usable for the purposes for which they are being used. 

2.19 Books and Records. The minute books of the Company contain, in all material respects, complete and accurate records of all
meetings and other corporate actions (including all actions by written consent) of the stockholders and the board of directors of the Company (the “Board of Directors”). The stock ledger of the Company is complete and accurate in all
respects and reflect all issuances, transfers, repurchases and cancellations of capital stock of the Company. 
 3. Representations and
Warranties of the Investors. Each Investor, severally and not jointly, hereby represents and warrants that: 
 3.1 Authorization.
Such Investor has full power and authority to enter into this Agreement and the Investors’ Rights Agreement, and each such agreement constitutes its valid and legally binding obligation, enforceable in accordance with its terms except
(a) as 

  
 8 

 
limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, (b) as limited by
laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, (c) as limited by laws relating to the enforceability of voting agreements and arrangements, and (d) to the extent the
indemnification provisions contained in the Investors’ Rights Agreement may be limited by applicable state or federal laws. 
 3.2
Purchase Entirely for Own Account. This Agreement is made with such Investor in reliance upon such Investor’s representation to the Company, which by such Investor’s execution of this Agreement such Investor hereby confirms, that
the Shares and the Warrants to be received by such Investor and the Common Stock issuable upon conversion or exercise thereof (collectively, the “Purchased Securities”) will be acquired for investment for such Investor’s own account,
not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this
Agreement, such Investor further represents that such Investor does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of
the Purchased Securities. 
 3.3 Disclosure of Information. Such Investor believes it has received all the information it considers
necessary or appropriate for deciding whether to purchase the Securities. Such Investor further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the
Securities and the business, properties, prospects and financial condition of the Company. The foregoing, however, does not limit or modify the representations and warranties of the Company in Section 2 or the right of the Investors to rely
thereon. 
 3.4 Investment Experience. Such Investor is an investor in securities of companies in the development stage and
acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the
Securities. If other than an individual, Investor also represents it has not been organized for the purpose of acquiring the Securities. 

3.5 Accredited Investor. Such Investor is an “accredited investor” within the meaning of Securities and Exchange Commission
(“SEC”) Rule 501 of Regulation D, as presently in effect. 
 3.6 Restricted Securities. Such Investor understands that
the Securities it is purchasing are characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws
and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances. In this connection, such Investor represents that it is familiar with SEC Rule 144, as presently in effect, and
understands the resale limitations imposed thereby and by the Act. 

  
 9 

 3.7 Further Limitations on Disposition. Without in any way limiting the representations
set forth above, such Investor further agrees not to make any disposition of all or any portion of the Securities unless and until the transferee has agreed in writing for the benefit of the Company to be bound by this Section 3, the
Investors’ Rights Agreement and the Voting Agreement, provided and to the extent this Section 3.7 and such agreements are then applicable, and: 

(a) There is then in effect a Registration Statement under the Act covering such proposed disposition and such disposition is made in
accordance with such Registration Statement; or 
 (b)(i) Such Investor shall have notified the Company of the proposed disposition and
shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and (ii) if reasonably requested by the Company, such Investor shall have furnished the Company with an opinion of counsel,
reasonably satisfactory to the Company that such disposition will not require registration of such shares under the Act. 
 3.8
Legends. It is understood that the certificates evidencing the Securities may bear the following legend: 
 “THESE SECURITIES
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION
OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 4. Conditions of Investors’ Obligations at
Closing. The obligations of each Investor under Section 1.1(c) are subject to the fulfillment on or before the Closing of each of the following conditions, the waiver of which shall not be effective against any Investor who does not consent
thereto: 
 4.1 Representations and Warranties. The representations and warranties of the Company contained in Section 2 shall
be true and correct on and as of the First Closing with the same effect as though such representations and warranties had been made on and as of the date of the First Closing. 

4.2 Performance. The Company shall have performed and complied with all agreements, obligations and conditions contained in this
Agreement that are required to be performed or complied with by it on or before the First Closing. 
 4.3 Board of Directors.
Effective as of the First Closing, the Board of Directors will consist of five authorized directors, which directors shall be Ryan Ashton, David Spafford, Stephen Aldous, with two vacancies. 

  
 10 

 4.4 Investors’ Rights Agreement. The Investors’ Rights Agreement in the form
attached hereto as Exhibit B shall have been executed and delivered by the parties thereto. 
 4.5 Voting Agreement. The
Voting Agreement in the form attached hereto as Exhibit C shall have been executed and delivered by the parties thereto. 
 4.6
Restated Certificate. The Restated Certificate shall have been duly adopted by the Company by all necessary corporate action of the Board of Directors and stockholders, and shall have been duly filed with and accepted by the Secretary of
State of the State of Delaware. 
 4.7 Secretary’s Certificate. The Company shall have delivered to the Investors a
Secretary’s Certificate, executed by the Secretary of the Company, dated as of the First Closing, with respect to the Restated Certificate, the Bylaws and the resolutions of the Board of Directors and stockholders relating to the transactions
contemplated hereby. 
 5. Conditions of the Company’s Obligations at Closing. The obligations of the Company to each Investor
with respect to each Closing at which such Investor purchases any Securities hereunder are subject to the fulfillment on or before the Closing of each of the following conditions by that Investor: 

5.1 Representations and Warranties. The representations and warranties of each Investor contained in Section 3 shall be true on
and as of such Closing with the same effect as though such representations and warranties had been made on and as of such Closing. 
 5.2
Payment of Purchase Price. Each Investor shall have delivered the Purchase Price specified in Section 1.1 for (i) the number of Shares set forth opposite such Investor’s name on Schedule 1 hereto, (ii) a
Class A Warrant to purchase the number of Class A Warrant Shares set forth in the column designated “Number of Class A Warrant Shares” opposite such Investor’s name on Schedule 1 hereto and (iii) a Class B
Warrant to purchase the number of Class B Warrant Shares set forth in the column designated “Number of Class B Warrant Shares” opposite such Investor’s name on Schedule 1 hereto. 

5.3 Qualifications. All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall be duly obtained and effective as of such Closing. 

5.4 Investors’ Rights Agreement. The Investors and the Company shall have entered into the Investors’ Rights Agreement in the
form attached hereto as Exhibit B. 
 5.5 Voting Agreement. The Investors and the Company shall have entered into the Voting
Agreement in the form attached hereto as Exhibit C. 
 6. Miscellaneous. 

6.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective 

  
 11 

 
successors and assigns of the parties (including transferees of any Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto
or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

6.2 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware as applied to agreements
among Delaware residents entered into and to be performed entirely within Delaware. 
 6.3 Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

6.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. 
 6.5 Notices. All notices required or permitted hereunder shall be in writing and shall
be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail, telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business
day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written
verification of receipt. All communications shall be sent to the Company at the address as set forth on the signature page hereof and to the Investors at the address set forth on Schedule 1 attached hereto or at such other address as the
Company or the Investors may designate by 10 days advance written notice to the other parties hereto. 
 6.6 Expenses. Each party
shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this Agreement. 

6.7 Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived
(either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders of at least a majority of the Common Stock issuable or issued upon conversion of the then
outstanding shares of Series D Preferred Stock and the exercise of the Warrants issued pursuant to this Agreement; provided, however, that no term of Section 6.14 may be amended or waived without the express prior written consent of Hitachi
Chemical Co., Ltd. (“Hitachi”). Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any securities purchased under this Agreement at the time outstanding (including securities into which
such securities are convertible), each future holder of all such securities, and the Company. 
 6.8 Severability. If one or more
provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable
in accordance with its terms. 

  
 12 

 6.9 Corporate Securities Law. THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS
AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS
UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING
OBTAINED, UNLESS THE SALE IS SO EXEMPT. 
 6.10 Entire Agreement. This Agreement and the documents referred to herein constitute the
entire agreement among the parties and no party shall be liable or bound to any other party in any manner by any warranties, representations, or covenants except as specifically set forth herein or therein. 

6.11 Exculpation Among Investors. Each Investor acknowledges that it is not relying upon any person, firm, or corporation, other than
the Company and its officers and directors, in making its investment or decision to invest in the Company. The Investors agree that no other Investor nor the respective controlling persons, officers, directors, partners, agents, or employees of any
Investor shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the Securities. 

6.12 Attorneys’ Fees. In the event that any dispute among the parties to this Agreement should result in litigation, the
prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable
fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 
 6.13
Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power or
remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit,
consent or approval of any kind or character on any Investors’ part of any breach, default or noncompliance under this Agreement or any waiver on such party’s part of any provisions or conditions of the Agreement must be in writing and
shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law, or otherwise afforded to any party, shall be cumulative and not alternative. 

6.14 Board Appointment. Pursuant to the Restated Certificate, Hitachi has certain rights to elect a member to the Board of Directors.
Notwithstanding anything to the contrary therein, if Hitachi has not nominated a person to be a director of the Company, Hitachi may instead elect a representative to attend and participate fully in all meetings of the Board in a nonvoting observer
capacity, and the Board shall give the observer copies of all minutes, notices, 

  
 13 

 
consents and other material that it gives to the directors. In addition, if Hitachi has not nominated a person to be a director of the Company prior to the Company’s consummation of an
initial public offering, the Company agrees, at each meeting of stockholders of the Company at which directors are elected, to the extent requested by Hitachi, to cause to be nominated for election as a director of the Company a person nominated by
Hitachi. In addition, to the extent Hitachi desires to appoint a director prior to a meeting of stockholders, the Company will use its reasonable best efforts to cause such person to be appointed by the existing Board of Directors of the Company,
subject to compliance with applicable law and any exchange rules on which the Company’s common stock is listed. Hitachi’s rights and the Company’s obligations pursuant to this Section 6.14 shall survive all Closings and the
consummation of all transactions pursuant to this Agreement. 
 [Signature Pages to Follow] 

  
 14 

 IN WITNESS WHEREOF, the parties have executed this Series D Preferred Stock and Warrant Purchase
Agreement as of the date first above written. 
  

			
	COMPANY:
	
	GREAT BASIN SCIENTIFIC, INC.
		
	By:	 	/s/ Ryan Ashton
		
	Name:	 	Ryan Ashton
		
	Title:	 	President and Chief Executive Officer
		
	Address	 	 
		
		 	 

  
 15EX-10.12

 Exhibit 10.12 

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT,
THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 FORM OF CLASS A WARRANT TO PURCHASE COMMON STOCK 

OF 
 GREAT BASIN
SCIENTIFIC, INC. 
 Great Basin Scientific, Inc. 

THIS WARRANT (the “Class A Warrant”) certifies that, for value received,
            (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the
date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on                  , 2021 (the “Expiration
Date”) but not thereafter, to subscribe for and purchase from Great Basin Scientific, Inc., a Delaware corporation (the “Company”), up to [CALCULATED AS 100 % OF THE PREFERRED STOCK ISSUED TO THE INVESTOR PURSUANT TO
THE PURCHASE AGREEMENT] shares of the Common Stock of the Company (the “Class A Warrant Shares”) at a purchase price equal to $0.0246 per share (the “Exercise Price”). This Class A Warrant is one of a series of
similar warrants to purchase Common Stock issued pursuant to that certain Series D Preferred Stock and Warrant Purchase Agreement, dated of even date herewith, by and between the Company and the purchasers signatory thereto (the “Purchase
Agreement”). All such warrants are referred to herein, collectively, as the “Class A Warrants.” 
 Section 1.
Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Purchase Agreement. 

Section 2. Exercise. 
 a)
Exercise of Class A Warrant. Exercise of the purchase rights represented by this Class A Warrant may be made at any time or times on or after the Initial Exercise Date and on or 

 
before the Expiration Date by delivery to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto as Exhibit A and the payment of the Exercise Price for
the Class A Warrant Shares so purchased by wire transfer or cashier’s check drawn on a United States bank. Upon exercise of the Class A Warrant, the Company shall issue and deliver to the person or person entitled to receive the same,
a certificate or certificates for the number of Class A Warrant Shares issuable upon such exercise. 
 b) Cashless Exercise. In
the event that the Company’s common stock is then traded on a securities exchange, and a registration statement covering the resale of the Class A Warrant Shares has not been filed by the Company and first declared effective by the SEC,
then the Holder may exchange this Class A Warrant on a cashless basis, in whole or in part (a “Cashless Exercise”), for the number of Class A Warrant Shares determined in accordance with this Section 2(b) by delivery
to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto indicating the Holder’s intent to effect such exchange, provided, however, that the right of a Holder to effect a Cashless Exercise
pursuant to this Section 2(b) shall terminate at such time as a registration statement is first declared effective by the SEC. In connection with any Cashless Exercise, the Company shall issue to the Holder the number of Class A Warrant
Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: 
  

					
	(A)	  	=	  	the average closing stock price of the Company’s common stock on its principal stock exchange for the five Trading Days immediately preceding the date of such election;
			
	(B)	  	=	  	the Exercise Price; and
			
	(X)	  	=	  	the number of shares covered by the Class A Warrant which the Holder has elected to exchange pursuant to this Section 2(b).

 c) Mechanics of Exercise. 

i. Authorization of Common Stock. The Company covenants that during the period the Class A Warrant is outstanding,
it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of all of the shares of Common Stock issuable upon the exercise of the Class A Warrant. The Company further covenants that
its issuance of this Class A Warrant shall constitute full authority to its officers who are charged with the duty of executing certificates to execute and issue the necessary certificates for the Class A Warrant Shares upon the exercise
of the purchase rights under this Class A Warrant. The Company covenants that the Class A Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Class A Warrant will, upon exercise of the
purchase rights represented by this Class A Warrant, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue). The Company will take all such reasonable action as may be necessary to assure that the Class A Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,
or of any requirements of the Trading Market upon which the Common Stock may be listed. 

  
 2 

 ii. Delivery of Certificates Upon Exercise. Certificates for the
Class A Warrant Shares purchased hereunder shall be delivered to the Holder within three (3) Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Class A Warrant and payment of the Exercise
Price as set forth above (“Class A Warrant Delivery Date”). This Class A Warrant shall be deemed to have been exercised on the date the payment of the principal amount is received by the Company. The Class A Warrant Shares
shall be deemed to have been issued, and the Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such security for all purposes, as of the date the Class A Warrant has been exercised
by payment to the Company of the principal amount and all taxes required to be paid by the Holder, if any, pursuant to Section 2(c)(ii) prior to the issuance of such security, have been paid. 

iii. Delivery of New Class A Warrants Upon Exercise. If this Class A Warrant shall have been exercised in
part, the Company shall, at the time of delivery of the certificate or certificates representing the Class A Warrant Shares, deliver to the Holder a new Class A Warrant evidencing the rights of such Holder to purchase the unpurchased
Class A Warrant Shares called for by this Class A Warrant, which new Class A Warrant shall in all other respects be identical with this Class A Warrant. 

iv. Rescission Rights. If the Company fails to deliver to the Holder a certificate or certificates representing the
Class A Warrant Shares pursuant to Section 2(c)(ii) by the Class A Warrant Delivery Date, then the Holder will have the right to rescind such exercise. 

v. Charges, Taxes and Expenses. Issuance of certificates for Class A Warrant Shares shall be made without charge to
the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in
such name or names as may be directed by the Holder; provided, however, that in the event certificates for Class A Warrant Shares are to be issued in a name other than the name of the Holder, this Class A Warrant when
surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. 
 vi. Closing of Books. The Company will not close its records in any manner which prevents the timely
exercise of this Class A Warrant, pursuant to the terms hereof. 
 Section 3. Certain Adjustments. 

a) Stock Dividends and Splits. If the Company, at any time while this Class A Warrant is outstanding: (A) pays a stock
dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common
Stock issuable by the Company pursuant to the Class A Warrants), (B) subdivides outstanding shares of Common Stock into a larger number of shares, (C) combines (including by way of reverse stock split) outstanding shares of Common
Stock into a smaller number of shares, or (D) issues 

  
 3 

 
by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall
be the number of shares of Common Stock (excluding treasury shares, if any) outstanding before such event and of which the denominator shall be the number of shares of Common Stock outstanding after such event. The number of shares of common stock
exerciseable pursuant to this Class A Warrant shall also be proportionately increased in the case of a subdivision or stock dividend, or similar event and proportionately decreased in the case of a combination or similar event. Any adjustment
made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date
in the case of a subdivision, combination or reclassification. 
 b) Fundamental Transaction. In case of any reclassification,
capital reorganization, exchange of shares, liquidation, recapitalization or change of the Common Stock (other than as a result of a subdivision, combination, stock dividend or reclassification provided for in Section 3(a) hereof), or in case
of any consolidation or merger of the Company with or into another corporation or entity (other than a merger with a subsidiary in which merger the Company is the continuing corporation and which does not result in any reclassification or capital
reorganization or change of the outstanding Common Stock) or in case of any sale, lease or conveyance to another corporation or entity of all or substantially all of the assets of the Company, then the Company shall, as a condition precedent to such
transaction, cause lawful and effective provisions to be made (and duly executed documents evidencing the same from the Company or its successor shall be delivered to the Holder) so that the Holder shall have the right thereafter upon exercise of
this Class A Warrant, to purchase the kind and amount of shares of stock and other securities and property receivable upon such reclassification, capital reorganization, exchange of shares, liquidation, recapitalization, change, consolidation,
merger, sale or conveyance by a holder of the number of shares of Common Stock which might have been received upon conversion of this Class A Warrant immediately prior to such reclassification, capital reorganization, exchange of shares,
liquidation, recapitalization, change, consolidation, merger, sale or conveyance, and in any such event, such provision shall include provision for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for
herein. The Company shall not effect any such consolidation, merger, sale, transfer or other disposition described above, unless prior to or simultaneously with the consummation thereof the successor corporation (if other than the Company) resulting
from such consolidation or merger or the corporation purchasing or otherwise acquiring such assets shall assume, by written instrument executed and mailed or delivered to the Holder of this Class A Warrant at the last address of the Holder
appearing on the books of the Company, the obligation to deliver to the Holder such shares of stock, securities, cash or properties as, in accordance with the foregoing provisions, the Holder may be entitled to acquire. The above provisions of this
paragraph shall similarly apply to successive reorganizations, reclassifications, exchanges, liquidations, recapitalizations, changes, consolidations, mergers, sales, transfers or other dispositions, if any. 

c) Calculations. All calculations and adjustments to the Exercise Price under this Section 3 shall be made to the nearest cent or
the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any)
outstanding. 

  
 4 

 d) Notice to Holders. The Company shall promptly give written notice of any adjustment
under this Section 3 to each Holder, which notice shall include a brief statement of the facts requiring such adjustment. 
 e)
Voluntary Adjustment By Company. The Company may at any time during the term of this Class A Warrant reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the
Company. 
 f) Adjustment for Certain Share Issuances. Until the Expiration Date, if the Company shall issue any Common Stock except
for the Excluded Issuances (as defined below), prior to the complete exercise of this Class A Warrant for a consideration less than the Exercise Price that would be in effect at the time of such issuance, then, and thereafter successively upon
each such issuance, the Exercise Price shall be reduced to such other lower price. For purposes of this adjustment, the issuance of any security or debt instrument of the Company carrying the right to convert such security or debt instrument into
Common Stock or of any warrant, right or option to purchase Common Stock shall result in an adjustment to the Exercise Price upon the issuance of the above-described security, debt instrument, warrant, right, or option if such issuance is at a price
lower than the Exercise Price in effect upon such issuance and again at any time upon any actual, permitted, optional, or allowed issuances of shares of Common Stock upon any actual, permitted, optional, or allowed exercise of such conversion or
purchase rights if such issuance is at a price lower than the Exercise Price in effect upon any actual, permitted, optional, or allowed such issuance. A convertible instrument (including a right to purchase equity of the Company) issued, subject to
an original issue or similar discount or which principal amount is directly or indirectly increased after issuance will be deemed to have been issued for the actual cash amount received by the Company in consideration of such convertible instrument.
The reduction of the Exercise Price described in this Section 5 is in addition to the other rights of the Holder described herein. 

“Excluded Issuances” means: (i) the Company’s issuance of securities in connection with bona fide strategic license
agreements and other bona fide partnering arrangements so long as such issuances are not for the purpose of raising capital and which holders of such securities or debt are not at any time granted registration rights, (ii) the Company’s
issuance of Common Stock or the issuances or grants of options to purchase Common Stock to employees, directors, and consultants, pursuant to approved equity compensation plans, (iii) securities upon the exercise or exchange of or conversion of
any securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement; and (iv) the shares issuable upon exercise of the Class B Warrants. 

g) Maximum Exercise. The Holder shall not be entitled to exercise this Class A Warrant on an exercise date, in connection with
that number of shares of Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially owned by the Holder and its affiliates on an exercise date, and (ii) the number of shares of Common Stock
issuable upon the exercise of this Class A Warrant with respect to which the determination of this limitation is being made on an exercise date, which would result in beneficial ownership 

  
 5 

 
by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock on such date. For the purposes of the immediately preceding sentence, beneficial ownership shall be
determined in accordance with Section 13(d) of the Exchange Act and Rule 13d-3 thereunder. Subject to the foregoing, the Holder shall not be limited to aggregate exercises which would result in the issuance of more than 4.99%. The restriction
described in this paragraph may be waived, in whole or in part, upon sixty-one (61) days prior notice from the Holder to the Company to increase such percentage. 

Section 4. Transfer of Class A Warrant. 

a) Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Sections 5(a) and 4(d)
hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Class A Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Class A Warrant at the principal office of the Company,
together with a written assignment of this Class A Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer.
Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Class A Warrant or Class A Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such
instrument of assignment, and shall issue to the assignor a new Class A Warrant evidencing the portion of this Class A Warrant not so assigned, and this Class A Warrant shall promptly be cancelled. A Class A Warrant, if properly
assigned, may be exercised by a new holder for the purchase of Class A Warrant Shares without having a new Class A Warrant issued. 

b) New Class A Warrants. This Class A Warrant may be divided or combined with other Class A Warrants upon presentation
hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Class A Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with
Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Class A Warrant or Class A Warrants in exchange for the Class A Warrant or Class A Warrants
to be divided or combined in accordance with such notice. 
 c) Class A Warrant Register. The Company shall register this
Class A Warrant, upon records to be maintained by the Company for that purpose (the “Class A Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of
this Class A Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary 

d) Transfer Restrictions. If, at the time of the surrender of this Class A Warrant in connection with any transfer of this
Class A Warrant, the transfer of this Class A Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws, the Company may require, as a
condition of allowing such transfer (i) that the Holder or transferee of this Class A Warrant, as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary for
opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration under the Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and
deliver 

  
 6 

 
to the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited investor” as defined in Rule 501(a) promulgated
under the Securities Act or a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act. 
 Section 5.
Miscellaneous. 
 a) Title to the Class A Warrant. Prior to the Expiration Date and subject to compliance with applicable
laws and Section 4 of this Class A Warrant, this Class A Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney, upon
surrender of this Class A Warrant together with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an investment letter in form and substance reasonably satisfactory to the Company. 

b) No Rights as Shareholder Until Exercise. This Class A Warrant does not entitle the Holder to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof. Upon the surrender of this Class A Warrant and the payment of the aggregate Exercise Price, the Class A Warrant Shares so purchased shall be and be deemed to be issued to such
Holder as the record owner of such shares as of the close of business on the later of the date of such surrender or payment. 
 c) Loss,
Theft, Destruction or Mutilation of Class A Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Class A Warrant or any
certificate relating to the Class A Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Class A Warrant, shall not include the posting of any bond),
and upon surrender and cancellation of such Class A Warrant or certificate, if mutilated, the Company will make and deliver a new Class A Warrant or certificate of like tenor and dated as of such cancellation, in lieu of such Class A
Warrant or certificate. 
 d) Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the
expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday. 

e) No Impairment. Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including,
without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Class A Warrant or the Class A Warrant Shares, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or
appropriate to protect the rights of Holder as set forth in this Class A Warrant and the Class A Warrant Shares against impairment. Without limiting the generality of the foregoing, the Company will (a) take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Class A Warrant Shares upon the exercise of this Class A Warrant and (b) use commercially reasonable efforts to obtain all
such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the 

  
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Company to perform its obligations under this Class A Warrant and the Class A Warrant Shares. Before taking any action which would result in an adjustment in the Class A Warrant
Shares for which this Class A Warrant is exercisable, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof. 

f) Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Class A Warrant shall
be determined in accordance with the provisions of the Purchase Agreement. 
 g) Restrictions. The Holder acknowledges that the
Class A Warrant Shares acquired upon the exercise of this Class A Warrant, if not then registered, will have restrictions upon resale imposed by state and federal securities laws. 

h) Non-waiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate on the Expiration Date. If the Company willfully and knowingly fails to comply with any
provision of this Class A Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable
attorneys’ fees, including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder. 

i) Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be
delivered in accordance with the notice provisions of the Purchase Agreement. 
 j) Limitation of Liability. No provision hereof, in
the absence of any affirmative action by Holder to exercise this Class A Warrant or purchase Class A Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the
purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company. 

k) Remedies. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Class A Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Class A
Warrant and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 
 l)
Successors and Assigns. Subject to applicable securities laws, this Class A Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and
permitted assigns of Holder. The provisions of this Class A Warrant are intended to be for the benefit of all Holders from time to time of this Class A Warrant and shall be enforceable by any such Holder. 

m) Modification. The provisions of the Class A Warrants may from time to time be amended, modified or waived, if such amendment,
modification or waiver is in writing and 

  
 8 

 
consented to by the Company and holders of at least a majority of the outstanding Class A Warrants (based on the number of Class A Warrant Shares underlying the Class A Warrants).
Any such amendment, modification or wavier shall be binding upon the Holder of this Class A Warrant regardless of whether the Holder consented to such amendment, modification or wavier; provided that nothing shall prevent the Company and the
Holder from consenting to amendments, modifications or waivers to this Class A Warrant that affect or are applicable to the Holder only. 

n) Severability. Wherever possible, each provision of this Class A Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Class A Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the
remainder of such provisions or the remaining provisions of this Class A Warrant. 
 o) Headings. The headings used in this
Class A Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Class A Warrant. 

*            
*             * 

  
 9 

 IN WITNESS WHEREOF, the Company has caused this Class A Warrant to be executed by its
officer thereunto duly authorized. 
 Dated:                  , 2014 

 

			
	GREAT BASIN SCIENTIFIC, INC.
		
	By:	 	  

		
		 	Name:
		
		 	Title:

  
 10 

 Exhibit A 

NOTICE OF EXERCISE 
 TO: GREAT BASIN
SCIENTIFIC, INC. 
 (1) The undersigned hereby elects to purchase shares of Common Stock of Great Basin Scientific, Inc. pursuant to the terms of the
attached Class A Warrant, and tenders herewith payment in full, together with all applicable transfer tax; 
 (2) Payment shall take the form of
(check applicable box): 
  ̈ lawful money of the United States; or 

 ̈ if Cashless Exercise is permitted in accordance with Section 2(b), the cancellation of
Class A Warrant Shares, in accordance with the formula set forth in subsection 2(b). 
 (3) Please issue a certificate or certificates representing
said Common Stock in the name of the undersigned or in such other name as is specified below (please include social security or other tax identification number): 
  

	
	  

	
	  

	
	  

 (4) The Common Stock shall be delivered to the following: 

 

	
	  

	
	  

	
	  

 (5) The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of
1933, as amended. 
 [SIGNATURE OF HOLDER] 
  

			
	Name of Investing Entity or Individual:	  	  

			
		
	Signature of Authorized Signatory of Investing Entity or Individual:	  	  

			
		
	Name of Authorized Signatory: 	  	  

			
		
	Title of Authorized Signatory:	  	  

			
		
	Date:	  	  

  
 11 

 ASSIGNMENT FORM 

(To assign the foregoing warrant, execute 

this form and supply required information. 

Do not use this form to exercise the warrant.) 

FOR VALUE RECEIVED, the foregoing Class A Warrant and all rights evidenced thereby are hereby assigned to 

 
  

					
			
		  	whose address is	  	  

			
		  		  	  

			
		  		  	  

			
		  		  	  

			
		  		  	  

			
		  	 Dated:
	  	
			
		  	Holder’s Signature:	  	
			
		  	Holder’s Address:	  	

 Signature Guaranteed: 
 NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Class A Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of
corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Class A Warrant. 

  
 12

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