Document:

ex_373892.htm

Exhibit 4.5

 

Description of Securities Registered Under Section 12 of the Securities Exchange Act of 1934, as amended

 

Our Certificate of Incorporation authorizes the issuance of three classes of stock as follows: up to Three Hundred Fifty Million (350,000,000) shares of common stock, $0.001 par value (“Common Stock”), up to One Hundred Million (100,000,000) shares of Class B common stock, $0.001 par value (“Class B Common Stock” and together with the Common Stock “Company Common Stock”) and up to Two Million (2,000,000) shares of preferred stock, $0.001 par value (“Preferred Stock”). The rights and preferences of the Preferred Stock may be established from time to time by our board of directors. Except as otherwise required by law, the holders of Class B Common Stock shall not be entitled to vote on any matter submitted to a vote of our stockholders.

 

As of May 11, 2022, ThermoGenesis Holdings, Inc. (the “Company,” “we,” “us,” and “our”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which was its Common Stock.

 

The following description of our Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Amended and Restated Certificate of Incorporation, dated as of July 5, 2020 (the “Certificate of Incorporation”), which is filed as Exhibit 3.1 to our Form 8-K filed with the Securities and Exchange Commission on June 6, 2020, and incorporated by reference herein.

 

Common Stock

 

Each holder of Common Stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, except matters that relate only to one or more of the series of Preferred Stock, and each holder does not have cumulative voting rights. Accordingly, the holders of a majority of the shares of Common Stock entitled to vote in any election of directors can elect all of the directors standing for election, if they so choose. According to our bylaws, all matters are decided by the vote of a majority in voting interest of the stockholders present in person or by proxy and voting at any meeting of the stockholders during which a quorum is present, except as otherwise provided in the Certificate of Incorporation, in the bylaws or by law.

 

Subject to preferences that may be applicable to any then outstanding Preferred Stock, the holders of Common Stock shall be entitled to participate ratably, on a share-for-share basis as if all shares of Common Stock and any then outstanding shares of Class B Common Stock were of a single class, in those dividends, as may be declared from time to time by the board of directors; provided, however, that any dividends payable in shares of Company Common Stock (or payable in rights to subscribe for or to purchase shares of Company Common Stock) shall be declared and paid at the same rate on each class of Company Common Stock and dividends payable in shares of Common Stock (or rights to subscribe for or to purchase shares of Common Stock) shall only be paid to holders of Common Stock and dividends payable in shares of Class B Common Stock (or rights to subscribe for or to purchase shares of Class B Common Stock) shall only be paid to holders of Class B Common Stock.

 

In the event of our liquidation, dissolution or winding up, holders of Common Stock will be entitled to share ratably, on a share-for-share basis as if all shares of Common Stock and any then outstanding shares of Class B Common Stock were of a single class, in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any outstanding shares of Preferred Stock.

 

 

 

 

Holders of Common Stock have no preemptive or conversion rights or other subscription rights, and there are no redemption or sinking fund provisions applicable to the Common Stock. The rights, preferences and privileges of the holders of Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of Preferred Stock which we may designate in the future.

 

 

Effect of Certain Provisions of our Certificate of Incorporation and Bylaws and the Delaware Anti-Takeover Statute

 

Certificate of Incorporation and Bylaws

 

Some provisions of Delaware law and our Certificate of Incorporation and bylaws contain provisions that could make the following transactions more difficult:

 

	 	
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			acquisition of us by means of a tender offer;

			
	 	 	
			 

			
	 	
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			acquisition of us by means of a proxy contest or otherwise; or

			
	 	 	
			 

			
	 	
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			removal of our incumbent officers and directors.

			

 

These provisions, summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids and to promote stability in our management. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors.

 

	 	
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			Undesignated Preferred Stock. The ability to authorize undesignated Preferred Stock makes it possible for our board of directors to issue one or more series of Preferred Stock with voting or other rights or preferences that could impede the success of any attempt to change control of us. These and other provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of our company.

			
	 	 	
			 

			
	 	
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			Stockholder Meetings. Our bylaws provide that a special meeting of stockholders may be called only by the board of directors.

			
	 	 	
			 

			
	 	
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			Requirements for Advance Notification of Stockholder Nominations and Proposals. Our bylaws establish advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of our board of directors or a committee of the board of directors.

			
	 	 	
			 

			
	 	
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			Board of Directors Vacancies. Under our bylaws, any vacancy on the board of directors, including a vacancy resulting from an enlargement of the board of directors, may be filled by vote of a majority of the remaining directors. The stockholders may elect a director or directors at any time to fill any vacancy or vacancies not filled by the directors.

			
	 	 	
			 

			
	 	
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			Board of Directors Size. Under our bylaws, the board of directors has the power to set the size of the board. The ability to increase or decrease the size of the board in conjunction with the other provisions above could make it more difficult for a third party to acquire control of the Company.

			

 

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Delaware Anti-Takeover Statute

 

We are subject to Section 203 of the Delaware General Corporation Law (“DGCL”). This law prohibits a publicly held Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years following the date that the stockholder became an interested stockholder, unless:

 

	 	
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			prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

			
	 	 	
			 

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

			
	 	 	
			 

			
	 	
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			on or subsequent to the date of the transaction, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

			

 

Section 203 defines “business combination” to include:

 

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

			
	 	 	
			 

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

			
	 	 	
			 

			
	 	
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			in general, any transaction that results in the issuance or transfer by us of any of our stock to the interested stockholder; or

			
	 	 	
			 

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

			

 

In general, Section 203 of the DGCL defines an “interested stockholder” as an entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

 

3Exhibit 4.1

 

	
    NUMBER

    U-__________
	 	UNITS
	 	 	 
	SEE REVERSE FOR

CERTAIN DEFINITIONS	PHOENIX ACQUISITION LIMITED	 

 

CUSIP

 

UNITS CONSISTING OF ONE ORDINARY
SHARE AND ONE-

THIRD OF ONE WARRANT AND ONE RIGHT

 

THIS CERTIFIES THAT ________________________________________________________________________________________________

 

is the owner of ________________________________________________________________________________________________
Units.

 

Each Unit (“Unit”) consists of one
ordinary share, par value $0.0001 per share, of Phoenix Acquisition Limited, a British Virgin Islands company (the “Company”),one-third
(1/3) of one redeemable warrant (“Warrant(s)”), and one right to receive one-tenth (1/10) of one ordinary share upon consummation
of an initial business combination (“Right(s)”). Each whole redeemable Warrant entitles the holder thereof to purchase one
ordinary share at a price of $11.50 per full share (subject to adjustment), upon the later to occur of (i) 30 days after the Company’s
completion of a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business
combination with one or more businesses or entities (a “Business Combination”) or (ii) 12 months from the date that the registration
statement is declared effective by the Securities and Exchange Commission (the “SEC”) (or up to 18 months from the date that
the registration statement is declared effective by the SEC if the Company extends the period of time to consummate a business combination
in addition to an automatic three-month extension if the Company files a preliminary proxy statement, registration statement or similar
filing for an initial business combination during the 12-month period or 18-month extended period, to complete a business combination).
Every ten Rights entitles the holder thereof to receive one ordinary share upon the consummation of the Business Combination. The ordinary
shares, Warrants, and Rights comprising the Units represented by this certificate are not transferable separately prior to the 52nd day
after the date of the prospectus relating to the Company’s initial public offering, unless Ladenburg Thalmann & Co. Inc. (“Ladenburg”)
as the representative of the underwriters, determines that an earlier date is acceptable, but in no event will the ordinary shares and
Warrants be traded separately until the Company files with the Securities and Exchange Commission (the “SEC”) a current report
on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds from its initial public
offering including the proceeds received by the Company from the exercise of the over-allotment option thereto, if the over-allotment
option is exercised. If the over-allotment option is exercised after the date of the prospectus, we will file an amendment to the Form
8-K or a new Form 8-K to provide updated financial information to reflect the exercise of the over-allotment option. We will also include
in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating if the underwriters has allowed separate trading
of the ordinary shares and Warrant prior to the 52nd day after the date of the prospectus.

 

The terms of the Warrants and the Rights are governed
by a warrant agreement (the “Warrant Agreement”), dated as of [     ], 2022, and the terms of the Rights
are governed by a rights agreement (the “Rights Agreement”), dated as of [     ], 2022, between the Company
and Continental Stock Transfer & Trust Company, as the warrant agent and right agent, and are subject to the terms and provisions
contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant
Agreement and Rights Agreement are on file at the office of Continental Stock Transfer & Trust Company at 1 State Street, 30th Floor
New York, NY 10004-1561, and are available to any Warrant Holder or Rights Holders, on written request and without cost.

 

This certificate is not valid unless countersigned
by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile seal of the Company and
the facsimile signatures of its duly authorized officers.

 

     

     

    

 

This Unit Certificate shall be governed and construed
in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles thereof.

 

[Seal]

 

By

 

	 	 	 
	Chairman	 	Chief Financial Officer

  

 

PHOENIX ACQUISITION LIMITED

 

The Company will furnish without
charge to each shareholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions
of such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

    

	TEN COM ‿o:p>	as tenants in common	UNIF GIFT MIN ACT - _____ Custodian ______
	TEN ENT ‿o:p>	as tenants by the entireties	           (Cust)                  (Minor)
	JT TEN ‿o:p>	as joint tenants with right of survivorship	               under Uniform Gifts to Minors	 
	 	and not as tenants in common	Act ______________

  (State)	 

 

Additional Abbreviations may also be used though
not in the above list.

   

For value received, ___________________________
hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE(S)

 

	
      

     
	 	 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING
ZIP CODE, OF ASSIGNEE)

 

	 	 Units

represented by the within Certificate, and
do hereby irrevocably constitute and appoint

 

	 	 Attorney

to transfer the said Units on the books of
the within named Company with full power of substitution in the premises.

 

	Dated 	 	 

 

    2

     

    

 

	 	 	 
	 	Notice:  	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

The holder of this certificate shall be entitled
to receive funds with respect to the underlying ordinary shares from the trust fund only in the event of the Company’s liquidation
upon failure to consummate a business combination or if the holder seeks to convert his or her respective ordinary shares underlying the
unit upon consummation of such business combination or in connection with certain amendments to the Company’s Amended and Restated
Memorandum and Articles of Association. In no other circumstances shall the holder have any right or interest of any kind in or to the
trust fund.

 

 

3

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