Document:

Document

Exhibit 4.3

DESCRIPTION OF THE REGISTRANT’S SECURITIES 
REGISTERED PURSUANT TO SECTION 12 OF THE 
SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED

The common stock, par value $0.0001 per share (“Common Stock”) of Xeris Biopharma Holdings, Inc. (the “Company,” “we,” “us,” and “our”) is registered under Section 12 of the Securities Exchange Act of 1934, as amended.  The following description sets forth certain general terms and provisions of our Common Stock.  These descriptions are in all respects subject to and qualified in their entirety by, and should be read in conjunction with the applicable provisions of, our Amended and Restated Certificate of Incorporation (“Certificate of Incorporation”) and our Amended and Restated Bylaws (“Bylaws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.3 is a part, and by applicable law. We encourage you to read our Certificate of Incorporation, our Bylaws and the applicable provisions of the Delaware General Corporation Law for additional information. 
Authorized Capital Stock
Our authorized capital stock consists of 350,000,000 shares of Common Stock and 25,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”), all of which shares of Preferred Stock are undesignated.

Common Stock    
Only our Common Stock is registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
Holders of our Common Stock are entitled to one vote for each share of Common Stock held of record for the election of directors and on all matters submitted to a vote of the stockholders. Holders of our Common Stock are entitled to receive dividends as may be declared from time to time by our board of directors out of funds legally available therefor. The holders of our Common Stock do not have any cumulative voting rights. Holders of our Common Stock have no preemptive, subscription, redemption or conversion rights, and no sinking fund provisions are applicable to our Common Stock.
In the event of our dissolution, liquidation or winding up, holders of our Common Stock are entitled to share pro rata in our net assets legally available after the payment of all our debts and other liabilities, subject to the preferential rights of any Preferred Stock then outstanding. The rights, preferences and privileges of 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 that we may designate and issue in the future. 

Preferred Stock
Our board of directors is authorized, without further action by the stockholders, to designate and issue up to an aggregate of 25,000,000 shares of Preferred Stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting, or the designation of, such series, any or all of which may be greater than the rights of Common Stock. Our board of directors may authorize the issuance of Preferred Stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of Common Stock and the likelihood that such holders will receive dividend payments and payments upon our liquidation.
The purpose of authorizing our board of directors to issue Preferred Stock in one or more series and determine the number of shares in the series and its rights, preferences, privileges and restrictions is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of Preferred Stock, while providing flexibility in connection with possible future financings and acquisitions and other corporate purposes, could, under certain circumstances, have the effect of delaying, deferring or preventing a change in control of our company, as further discussed below under “—Anti-Takeover Effects of Delaware Law and Provisions of our Charter and our Bylaws—Provisions of our Charter and our Bylaws—Undesignated Preferred Stock.”
No shares of Preferred Stock are outstanding as of the date of our Annual Report on Form 10-K with which this Exhibit 4.3 is filed as an exhibit.
Registration Rights

Pursuant to the terms of Xeris Pharma’s investors’ rights agreement, dated as of December 31, 2015, certain of our stockholders are entitled to rights with respect to the registration of their shares under the Securities Act until the earliest of the fifth (5th) anniversary of our initial public offering, or such holder’s registrable securities could be sold without any restriction on volume or manner of sale on any 90-day period under Rule 144 or any successor rule, as described below. We refer to these shares collectively as registrable securities.
Demand Registration Rights
The holders of 1,387,985 shares of our Common Stock are entitled to demand registration rights. Under the terms of the investors’ rights agreement, we will be required, upon the written request of holders of at least 20% of the securities eligible for registration then outstanding or such lesser percentage that would result in an aggregate offering price of at least $10.0 million, to file a registration statement and use commercially reasonable efforts to effect the registration of all or a portion of these shares for public resale. We are required to effect only two registrations pursuant to this provision of the investors’ rights agreement.
Short-Form Registration Rights
Pursuant to Xeris Pharma’s investors’ rights agreement, if we are eligible to file a registration statement on Form S-3, upon the written request of majority in interest of these holders to sell registrable securities at an aggregate price of at least $1.0 million, we will be required to use commercially reasonable efforts to effect a registration of such shares. We are not required to effect more than two registrations that have been declared or ordered effective by the SEC pursuant to this provision of the investors’ rights agreement. The right to have such shares registered on Form S-3 is further subject to other specified conditions and limitations.
Piggyback Registration Rights
Pursuant to Xeris Pharma’s investors’ rights agreement, if we register any of our securities either for our own account or for the account of other security holders, the holders of 1,387,985 shares of our Common Stock are entitled to include their shares in the registration. Subject to certain exceptions contained in the investors’ rights agreement, we and the underwriters may limit the number of shares included in the underwritten offering to the number of shares which we and the underwriters determine in our sole discretion will not jeopardize the success of the offering.
Indemnification
Xeris Pharma’s investors’ rights agreement contains customary cross-indemnification provisions, under which we are obligated to indemnify holders of registrable securities in the event of material misstatements or omissions in the registration statement attributable to us, and they are obligated to indemnify us for material misstatements or omissions attributable to them.
 
Expiration of Registration Rights
The demand registration rights and short form registration rights granted under Xeris Pharma’s investors’ rights agreement will terminate on the fifth anniversary of the completion of Xeris Pharma’s initial public offering or at such time after such offering when the holders’ shares may be sold without restriction pursuant to Rule 144 within a 90-day period.
Anti-Takeover Effects of Delaware Law and Provisions of our Certificate of Incorporation and our Bylaws
Our Certificate of Incorporation and Bylaws include a number of provisions that may have the effect of delaying, deferring or preventing another party from acquiring control of us and encouraging persons considering unsolicited tender offers or other unilateral takeover proposals to negotiate with our board of directors rather than pursue non-negotiated takeover attempts. These provisions include the items described below.
Delaware Anti-Takeover Statute
We are subject to the provisions of Section 203 of the Delaware General Corporation Law. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:
 

												
	 	•	 	before the stockholder became interested, our board of directors approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

 
												
	 	•	 	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 voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some instances, but not the outstanding voting stock owned by the interested stockholder; or

 
												
	 	•	 	at or after the time the stockholder became interested, the business combination was approved by our board of directors and authorized at an annual or special meeting of the stockholders 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 a business combination to include:
 
												
	 	•	 	any merger or consolidation involving the corporation and the interested stockholder;

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

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

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

 
												
	 	•	 	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 defines an interested stockholder as any 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.
 
Choice of Forum
Our bylaws provide that unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall be the sole and exclusive forum for any state law claims for (i) any derivative action or proceeding brought on behalf of the company, (ii) any action asserting a claim of, or a claim based on, a breach of a fiduciary duty owed by any company director, officer or other employee to the company or our stockholders, (iii) any action asserting a claim arising pursuant to any provision of the DGCL, or (iv) any action asserting a claim governed by the internal affairs doctrine, in each case subject to the Court of Chancery having personal jurisdiction over the indispensable parties named as defendants therein (the “Delaware Forum Provision”). The Delaware Forum Provision will not apply to any causes of action arising under the Securities Act or the Securities Exchange Act of 1934. In addition, our bylaws further provide that the federal district courts of the United States will be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act (the “Federal Forum Provision”).

Our bylaws also provide that any person or entity purchasing or otherwise acquiring any interest in shares of our Common Stock is deemed to have notice of and consented to the Delaware Forum Provision and the Federal Forum Provision.
We recognize that the Delaware Forum Provision and the Federal Forum Provision in our bylaws may impose additional litigation costs on stockholders in pursuing any such claims, particularly if the stockholders do not reside in or near the State of Delaware. Additionally, the Delaware Forum Provision and/or the Federal Forum Provision may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or employees, which may discourage such lawsuits against us and our directors, officers and employees even though an action, if successful, might benefit our stockholders. The Court of Chancery of the State 

of Delaware or the federal district courts of the United States, as applicable, may also reach different judgments or results than would other courts, including courts where a stockholder considering an action may be located or would otherwise choose to bring the action, and such judgments or results may be more favorable to us than to our stockholders.

Provisions of our Charter and our Bylaws
Our Certificate of Incorporation and Bylaws include a number of provisions that may have the effect of delaying, deferring or preventing another party from acquiring control of us and encouraging persons considering unsolicited tender offers or other unilateral takeover proposals to negotiate with our board of directors rather than pursue non-negotiated takeover attempts. These provisions include the items described below.
Board Composition and Filling Vacancies 
Our Certificate of Incorporation provides for the division of our board of directors into three classes serving staggered three-year terms, with one class being elected each year. Our Certificate of Incorporation also provides that directors may be removed only for cause and then only by the affirmative vote of the holders of two-thirds or more of the shares then entitled to vote at an election of directors. Furthermore, any vacancy on our board of directors, however occurring, including a vacancy resulting from an increase in the size of our board, may only be filled by the affirmative vote of a majority of our directors then in office even if less than a quorum. The classification of directors, together with the limitations on removal of directors and treatment of vacancies, has the effect of making it more difficult for stockholders to change the composition of our board of directors.
Meetings of Stockholders
Our Certificate of Incorporation and Bylaws provide that special meetings of stockholders may be called at any time by the board of directors, or by a majority of the members of the board of directors, or by a committee of the board of directors which has been duly designated by the board of directors and whose powers and authority, as provided in a resolution of the board of directors or in these Bylaws, include the power to call such meetings, but such special meetings may not be called by any other person or persons.
Advance Notice Requirements
Our Bylaws provide that stockholders must give timely written notice to bring business before an annual meeting of stockholders or to nominate candidates for election as directors at an annual meeting of stockholders. Generally, to be timely, a stockholder’s notice will be required to be delivered to our principal executive offices not later than the 90th day nor earlier than the 120th day prior to the one (1)-year anniversary of the preceding year’s annual meeting; provided, however, that if the date of the annual meeting is more than thirty (30) days before or more than sixty (60) days after such anniversary date, notice by the stockholder to be timely must be so delivered, or mailed and received, not later than the 90th day prior to such annual meeting or, if later, the tenth day following the day on which public disclosure of the date of such annual meeting was first made. Our Bylaws also specify the form and content of a stockholder’s notice.
Amendment to Bylaws
Our board of directors is authorized to amend, alter, change, adopt and repeal our Bylaws by a majority vote. Our stockholders also have the power to amend, alter, change, adopt and repeal our Bylaws by the affirmative vote of the holders of two-thirds or more of the shares then entitled to vote on such an amendment or repeal, voting as a single class; provided, however, that if our board of directors recommends that stockholders approve such amendment or repeal at such meeting of stockholders, such amendment or repeal shall only require the affirmative vote of the majority of outstanding shares entitled to vote on such amendment or repeal, voting together as a single class.
Undesignated Preferred Stock 
Our Certificate of Incorporation provides for 25,000,000 authorized shares of Preferred Stock. The existence of authorized but unissued shares of Preferred Stock may enable our board of directors to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise. For example, if in the due exercise of its fiduciary obligations, our board of directors were to determine that a takeover proposal is not in the best interests of our stockholders, our board of directors could cause shares of Preferred Stock to be issued without stockholder approval in one or more private offerings or other transactions that might dilute the voting or other rights of the proposed acquirer or insurgent stockholder or stockholder group. In this regard, our certificate of 

incorporation grants our board of directors broad power to establish the rights and preferences of authorized and unissued shares of Preferred Stock. The issuance of shares of Preferred Stock could decrease the amount of earnings and assets available for distribution to holders of shares of Common Stock. The issuance may also adversely affect the rights and powers, including voting rights, of these holders and may have the effect of delaying, deterring or preventing a change in control of us.

Nasdaq Global Select Market Listing
Our Common Stock is listed on The Nasdaq Global Select Market under the symbol “XERS.”
Transfer Agent and Registrar
The transfer agent and registrar for our Common Stock is Computershare Trust Company, N.A. The transfer agent and registrar’s address is 250 Royall Street, Canton, Massachusetts 02021, and its telephone number is (800) 962-4284.Exhibit
4.7

 

DESCRIPTION
OF SECURITIES

REGISTERED
UNDER SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

Capital
Stock

 

BTCS
Inc. (the “Company”) is authorized to issue (i) 97,500,000 shares of common stock, par value $0.001 per share (the “Common
Stock”) and (ii) 20,000,000 shares of preferred stock, par value $0.001 per share. The Preferred Stock may be issued in one or
more series, each series to be appropriately designated by a distinguishing letter or title, prior to the issuance of any shares thereof.
The voting powers, designations, preferences, limitations, restrictions, and relative, participating, optional and other rights, and
the qualifications, limitations, or restrictions thereof, of the Preferred Stock shall hereinafter be prescribed by resolution of the
board of directors (“Board”) pursuant to Section 3 of Article III of the Amended and Restated Articles of Incorporation
(“Articles”).

 

The
Common Stock is registered pursuant to Section 12(b) of the Securities Exchange Act of 1934.

 

The
holders of Common Stock are entitled to one vote per share on all matters submitted to a vote of shareholders, including the election
of directors. There is no cumulative voting in the election of directors. The directors of the Company are elected by a plurality of
the votes cast by the shareholders. On all other matters submitted to the shareholders, the affirmative vote of the majority of the votes
cast for or against a proposal shall be the act of the shareholders unless otherwise provided by the Nevada Revised Statutes (“NRS”)
or the bylaws of the Company.

 

Certain
Provisions of Our Charter and Bylaws

 

Common
Stock

 

(a)
Dividend Rate. Subject to the rights of holders of any Preferred Stock having preference as to dividends and except as otherwise
provided by the Articles of Incorporation (hereinafter, the “Articles”) or the NRS, the holders of Common Stock shall
be entitled to receive dividends when, as and if declared by the Board out of assets legally available therefor.

 

(b)Voting
Rights. Except as otherwise provided by the NRS, the holders of the issued and outstanding shares of Common Stock shall be entitled
to one vote for each share of Common Stock. No holder of shares of Common Stock shall have the right to cumulate votes.

 

(c)Liquidation
Rights. In the event of liquidation, dissolution, or winding up of the affairs of the Company, whether voluntary or involuntary,
subject to the prior rights of holders of Preferred Stock to share ratably in the Company’s assets, the Common Stock and any shares
of Preferred Stock which are not entitled to any preference in liquidation shall share equally and ratably in the Company’s assets
available for distribution after giving effect to any liquidation preference of any shares of Preferred Stock. A merger, conversion,
exchange or consolidation of the Company with or into any other person or sale or transfer of all or any part of the assets of the Company
(which shall not in fact result in the liquidation of the Company and the distribution of assets to stockholders) shall not be deemed
to be a voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company.

 

(d)No
Conversion, Redemption, or Preemptive Rights. The holders of Common Stock shall not have any conversion, redemption, or preemptive
rights.

 

(e)Consideration
for Shares. The Common Stock shall be issued for such consideration as shall be fixed, from time to time, by the Board.

 

    	 

     

    

  

Preferred
Stock

 

(a)
Designation. The Board is hereby vested with
the authority from time to time to provide by resolution for the issuance of shares of Preferred Stock in one or more series not exceeding
the aggregate number of shares of Preferred Stock authorized by the Articles, and to prescribe with respect to each such series the voting
powers, if any, designations, preferences, and relative, participating, optional, or other special rights, and the qualifications, limitations,
or restrictions relating thereto, including, without limiting the generality of the foregoing: the voting rights relating to the shares
of Preferred Stock of any series (which voting rights, if any, may be full or limited, may vary over time, and may be applicable generally
or only upon any stated fact or event); the rate of dividends (which may be cumulative or noncumulative), the condition or time for payment
of dividends and the preference or relation of such dividends to dividends payable on any other class or series of capital stock; the
rights of holders of Preferred Stock of any series in the event of liquidation, dissolution, or winding up of the affairs of the Company;
the rights, if any, of holders of Preferred Stock of any series to convert or exchange such shares of Preferred Stock of such series
for shares of any other class or series of capital stock or for any other securities, property, or assets of the Company or any subsidiary
(including the determination of the price or prices or the rate or rates applicable to such rights to convert or exchange and the adjustment
thereof, the time or times during which the right to convert or exchange shall be applicable, and the time or times during which a particular
price or rate shall be applicable); whether the shares of any series of Preferred Stock shall be subject to redemption by the Company
and if subject to redemption, the times, prices, rates, adjustments and other terms and conditions of such redemption. The powers, designations,
preferences, limitations, restrictions and relative rights may be made dependent upon any fact or event which may be ascertained outside
the Articles or the resolution if the manner in which the fact or event may operate on such series is stated in the Articles or resolution.
The Board is further authorized to increase or decrease (but not below the number of such shares of such series then outstanding) the
number of shares of any series subsequent to the issuance of shares of that series. Unless the Board provides to the contrary in the
resolution which fixes the characteristics of a series of Preferred Stock, neither the consent by series, or otherwise, of the holders
of any outstanding Preferred Stock nor the consent of the holders of any outstanding Common Stock shall be required for the issuance
of any new series of Preferred Stock regardless of whether the rights and preferences of the new series of Preferred Stock are senior
or superior, in any way, to the outstanding series of Preferred Stock or the Common Stock.

 

(b)
Certificate. Before the Company may issue any shares of Preferred Stock of any series, a
certificate of designation setting forth a copy of the resolution or resolutions of the Board, and establishing the voting powers, designations,
preferences, the relative, participating, optional, or other rights, if any, and the qualifications, limitations, and restrictions, if
any, relating to the shares of Preferred Stock of such series, and the number of shares of Preferred Stock of such series authorized
by the Board to be issued shall be made and signed by an officer of the corporation and filed in the manner prescribed by the NRS.

 

Special
Meetings

 

Under
our bylaws, (a) Special meetings of the stockholders of the corporation may be called, for any purpose or purposes, by (i) the Chairman
of the Board, (ii) the Chief Executive Officer, or (iii) the Board pursuant to a resolution adopted by a majority of the total number
of authorized directors (whether or not there exist any vacancies in previously authorized directorships at the time any such resolution
is presented to the Board for adoption), and shall be held at such place, on such date, and at such time, as the Board shall determine.
(b) If a special meeting is called by any person or persons other than the Board, the request shall be in writing, specifying the general
nature of the business proposed to be transacted, and shall be delivered personally or sent by registered mail or by tele-graphic or
other facsimile transmission to the Chairman of the Board, the Chief Executive Officer, or the Secretary of the Company. No business
may be transacted at such special meeting otherwise than specified in such notice. The Board shall determine the time and place of such
special meeting, which shall be held not less 35 nor more than 120 days after the date of the receipt of the request. Upon determination
of the time and place of the meeting, the officer receiving the request shall cause notice to be given to the stockholders entitled to
vote, in accordance with the provisions of the Bylaws. If the notice is not given within 60 days after the receipt of the request, the
person or persons requesting the meeting may set the time and place of the meeting and give the notice.

 

Transfer
Agent and Registrar

 

Equity
Stock Transfer is the transfer agent and registrar in respect of the Common Stock.

 

Pursuant
to Item 202(a), the information regarding the Common Stock contained herein does not constitute a complete legal description of the Common
Stock and is qualified in all material respects by the provisions of the Company’s Articles and Bylaws, as filed with the Securities
and Exchange Commission.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}]]