Document:

Amendment to Amended and Restated Warrant to purchase Preferred Stock

 Exhibit 4.3.1 
 AMENDMENT TO 
 AMENDED AND RESTATED WARRANT TO PURCHASE STOCK 

This Amendment to Amended and Restated Warrant to Purchase Stock (this “Amendment”) is entered into as of February 14,
2006, by and between COMERICA INCORPORATED (“Comerica”) and NEWGISTICS, INC. (“Company”). Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Warrant (as defined below).

 RECITALS 
 Comerica is the holder of that certain Amended and Restated Warrant to Purchase 10,000 shares of the Company’s Series A Preferred Stock bearing an “Issue Date” (as defined therein) of
July 25, 2000 (the “Warrant”). The parties hereto desire to amend the Warrant in accordance with the terms of this Amendment. 
 NOW, THEREFORE, the parties hereto agree as follows: 
 1. The “Expiration
Date” of the Warrant is hereby amended to read “May 15, 2012.” 
 2. The Warrant, as amended hereby, shall be and
remain in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or
as an amendment of, any right, power, or remedy of Comerica under the Warrant, as in effect prior to the date hereof. 
 3. This
Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 
 4. The execution and delivery of this Amendment by the Company have been duly authorized by all necessary actions on the part of the Company, and this Amendment has been duly executed and delivered by the
Company and constitutes a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms. 
 IN WITNESS WHEREOF, the undersigned have executed, or have caused their duly authorized officers to execute, this Amendment as of the first date above written. 

 

			
	 NEWGISTICS, INC.

		
	 By:
	 	 /s/ Jay Shreiner

	 Name:
	 	 Jay Shreiner

	 Title:
	 	 CEO

	
	 COMERICA INCORPORATED

		
	 By:
	 	 /s/ Ann M. Scheuer

	 Name:
	 	 Ann M. Scheuer

	 Title:
	 	 Vice President

  
 1Warrant to purchase Preferred Stock

 Exhibit 4.4 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED
WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH-ACT OR LAWS OR PURSUANT TO RULE 144 AND A SIMILAR EXEMPTION UNDER APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS COUNSEL THAT SUCH
REGISTRATION IS NOT REQUIRED. 
 WARRANT TO PURCHASE STOCK 
 Corporation: NEWGISTICS, INC., a Delaware Corporation 
 Number of Shares: 87,500 (subject to
Section 1.7) 
 Class of Stock: Series A Preferred (subject to Section 1.7) 
 Initial Exercise Price: $0.50 per share (subject to Section 1.7) 
 Issue Date:
December 28, 2000 
 Expiration Date: December 28,2005 (Subject to Article 4.1) 

THIS WARRANT CERTIFIES THAT, in consideration of the payment of $1.00 and for other good and valuable consideration, IMPERIAL BANK or its
assignee (“Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the class of securities (the “Shares”) of the corporation (the “Company”) at the initial exercise price per Share (the
“Warrant Price”) all as set forth above and as adjusted pursuant to Article 2 of this warrant, subject to the provisions and upon the terms and conditions set forth in this warrant. 

ARTICLE 1. EXERCISE 
 1.1 Method of Exercise. Holder may exercise this warrant by delivering this warrant and a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the
Company. Unless Holder is exercising the conversion right set forth in Section 1.2, Holder shall also deliver to the Company a check for the aggregate Warrant Price for the Shares being purchased. 

1.2 Conversion Right. In lieu of exercising this warrant as specified in Section 1.1, Holder may from time to time convert this
warrant, in whole or in part, into a number of Shares determined by dividing (a)the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this warrant minus the aggregate Warrant Price of such Shares by
(b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Section 1.3. 
 1.3 Fair Market Value. If the Shares are traded regularly in a public market, the fair market value of the Shares shall be the average closing price of the Shares (or the closing price of the
Company’s stock into which the Shares are convertible) reported for the l0 business days immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not regularly traded in a public market, the Board of Directors
of the Company shall determine fair market value in its reasonable good faith judgment. The foregoing notwithstanding, if Holder advises the Board of Directors in writing that Holder disagrees with such determination, then the

  
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Company and Holder shall promptly agree upon a reputable investment banking firm to undertake such valuation. If the valuation of such investment banking firm is more than 10% greater than that
determined by the Board of Directors, then all fees and expenses of such investment banking firm shall be paid by the Company. In all other circumstances, such fees and expenses shall be paid by Holder. 

1.4 Delivery of Certificate and New Warrant- Promptly after Holder exercises or converts this warrant, the Company shall deliver to
Holder certificates for the Shares acquired and, if this warrant has not been fully exercised or converted and has not expired, a new warrant representing the Shares not so acquired. 

1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation
of this warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this warrant, the Company
at its expense shall execute and deliver, in lieu of this warrant, a new warrant of like tenor. 
 1.6 Repurchase on Sale.
Merger, or Consolidation of the Common. 
 1.6.1 “Acquisition.” For the purpose of this warrant,
“Acquisition” means any sale, license, or other disposition of all or substantially all of the assets (including intellectual property) of the Company, or any . reorganization, consolidation, or merger of the Company where the holders of
the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction. 
 1.6.2 Assumption of Warrant. If upon the closing of any Acquisition the successor entity assumes the obligations of this warrant, then this warrant shall be exercisable for the same securities, cash, and
property as would be payable for the Shares issuable upon exercise of the unexercised portion of this warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The warrant Price shall be adjusted
accordingly. The Company shall use reasonable efforts to cause the surviving corporation to assume the obligations of this warrant. 
 1.6.3 Nonassumption. If upon the closing of any Acquisition the successor entity does not assume the obligations of this warrant and Holder has not otherwise exercised this warrant in full, then Holder
shall have the option either to (a) deem this warrant to have been automatically converted pursuant to Section 1.2 and thereafter Holder shall participate in the Acquisition on the same terms as other holders of the same class of
securities of the Company; or (b)require the Company to purchase this warrant for cash upon the closing of the Acquisition for an amount per Share equal to fifty percent (50%) of the warrant Price. 

1.7 Adjustment in Underlying Preferred Stock Price and Exercise Price. If on or before July 15,2001, the Company sells and issues to
any investors preferred stock with aggregate gross proceeds to the Company of at least 510,000,000, this warrant shall, concurrent with the issuance of such shares of preferred stock, automatically be adjusted to instead be exercisable for shares of
the same series and class and bearing the same rights, preferences, and 

  
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privileges of such shares of stock, with the Warrant Price equal to the per share sale price of the series of preferred stock so sold (the “Revised Warrant Price”) and the number of
such shares subject to this warrant equal to $43,750 divided by the Revised Warrant Price. 
 ARTICLE 2. ADJUSTMENTS TO THE
SHARES. 
 2.1 Stock Dividends. Splits. Etc. If the Company declares or pays a dividend on its common stock payable in common
stock, or other securities, or subdivides the outstanding common stock into a greater amount of common stock, then upon exercise of this warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of
securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred. 
 2.2 Reclassification. Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon
exercise or conversion of this warrant, Holder shall be entitled to receive, upon exercise or conversion of this warrant, the number and kind of securities and property that Holder would have received for the Shares if this warrant had been
exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to
common stock pursuant to the terms of the Company’s Certificate of Incorporation upon the closing of a registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder a new warrant for
such new securities or other property. The new warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the
Warrant Price and to the number of securities or property issuable upon exercise of the new warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events.

 2.3 Adjustments for Combinations. Etc. If the outstanding Shares are combined or consolidated, by reclassification or
otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of shares Issuable hereunder shall be proportionately decreased. 
 2.4 Adjustments for Diluting Issuances. The Warrant Price and the number of Shares issuable upon exercise of this warrant shall be subject to adjustment, from time to time, in the manner set forth on
Exhibit A. if attached, in the event of Diluting Issuances (as defined on Exhibit AY 
 2.5 No Impairment. The Company shall
not, by amendment of its Certificate of Incorporation or through a 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 to be observed or performed under this warrant by the Company, but shall at all times in good faith assist in carrying out all the provisions of this Article 2 and in taking all such action as may be necessary or
appropriate to protect Holder’s rights under this Article against impairment. If the Company takes any action affecting the Shares or its common stock other than as described above that adversely affects Holder’s rights

  
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under this warrant, the Warrant Price shall be adjusted downward and the number of Shares issuable upon exercise of this warrant shall be adjusted upward in such a manner that the aggregate
Warrant Price of this warrant is unchanged. In no event shall this Section be interpreted to prohibit an amendment to the Certificate of Incorporation, including but not limited to an amendment to change, alter, or modify the terms of the Preferred
Stock, so long as any amendment applies equally to all holders of Shares in the same manner. 
 2.6 Certificate as to
Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which
such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 

ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 
 3.1 Representations and Warranties. The Company hereby represents and warrants to the Holder as follows: 
 (a) All Shares which may be issued upon the exercise of the purchase right represented by this warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free of any Hens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

(b) The Company’s capitalization table attached to this warrant is true and complete as of the Issue Date. 

3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon its common stock,
whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b)to offer for subscription pro rata to the holders of any class or series of its stock any additional shares of stock of any class or series or other
rights other than pursuant to contractual preemptive rights; (c) to effect any reclassification or recapitalization of common stock; or (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all
or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event, the Company shall give Holder (1) at least 20 days prior written notice of the date on which a record will be taken for such
dividend, distribution, or subscription rights (and specifying the date on which the holders of common stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a)and (b) above; and
(2) in the case of the matters referred to in (c) and (d) above at least 20 days prior written notice of the date when the same will take place (and specifying the date on which the holders of common stock will be entitled to exchange
their common stock for securities or other property deliverable upon the occurrence of such event). 
 3.3 Information Rights.
So long as the Holder holds this warrant and/or any of the Shares, the Company shall, upon request, deliver to the Holder (a) promptly after mailing, copies of all communiques to the shareholders of the Company, (b) within ninety
(90) days after the end 

  
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of each fiscal year of the Company, the annual audited financial statements of the Company certified by independent public accountants of recognized standing and (c) within forty-five
(45) days after the end of each of the first three quarters of each fiscal year, the Company’s quarterly, unaudited financial statements. 
 3.4 Registration Under Securities Act of 933. as Amended. The Company agrees that the Shares subject of this warrant shall be subject to “piggy-back” and S-3 registration rights in accordance
with the terms of the Investors’ Rights Agreement dated July 25, 2000 between Company and the Investors identified therein and, in the event the Shares subject of this warrant are Series B Shares, any Investors’ Rights or similar
agreement entered into in connection with the sale and issuance of Company’s Series B Preferred Stock. 
 ARTICLE 4.
MISCELLANEOUS. 
 4.1 Term This warrant is exercisable in whole or in part, at any time and from time to time on or before the
Expiration Date set forth above. If this warrant has not been exercised prior to the Expiration Date, this warrant shall be deemed to have been automatically exercised on the Expiration Date by “cashless” conversion pursuant to
Section 1.2. 
 4.2 Legends. This warrant and the Shares (and the securities issuable, directly or indirectly, upon
conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 
 THIS SECURITY HAS NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR LAWS OR PURSUANT TO RULE 144 AND A SIMILAR
EXEMPTION UNDER APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 
 4.3 Compliance with Securities Laws on Transfer. This warrant and the Shares issuable upon exercise of this warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if
any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters
and legal opinions reasonably satisfactory to the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to an affiliate of Holder or if there is no material question as to the availability of current
information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents that it has complied with Rule 144(f), and the Company is provided with a copy of
Holder’s notice of proposed sale. 
 4.4 Transfer Procedure. Subject to the provisions of Section 4.3, Holder may
transfer all or part of this warrant or the Shares issuable upon exercise of this warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of the warrant being
transferred setting forth the name, address and taxpayer 

  
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identification number of the transferee and surrendering this warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable); provided however, that Holder may transfer
all or part of this warrant to its affiliates, including, without limitation, Imperial Bancorp, at any time without notice to the Company, and such affiliate shall then be entitled to all the rights of Holder under this warrant and any related
agreements, and the Company shall cooperate fully in ensuring that any stock issued upon exercise of this warrant is issued in the name of the affiliate that exercises the warrant. The terms and conditions of this warrant shall inure to the benefit
of, and be binding upon, the Company and the holders hereof and their respective permitted successors and assigns. Unless the Company is filing financial information with the SEC pursuant to the Securities Exchange Act of 1934, the Company shall
have the right to refuse to transfer any portion of this warrant to any person who directly competes with the Company. 
 4.5
Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may
have been furnished to the Company or the Holder, as the case may be, in writing by the Company or such Holder from time to time. All notices to the Holder shall be addressed as follows: 

Imperial Bank 

Attn: Controllers Department 
 P.O. Box 92991 
 Los Angeles, CA 90009-2991 

with a copy to: 

Imperial Bank 

Attn: Warrant Administrator 
 Special Markets Division 
 P.O. Box 7279 

San Francisco, CA 94120-7279 
 4.6 Waiver. This warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver,
discharge or termination is sought. 
 4.7 Attorneys’ Fees. In the. event of any dispute between the parties concerning the
terms and provisions of this warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

4.8 Governing Law. This warrant shall be governed by and construed in accordance with the laws of the State of California, without giving
effect to its principles regarding conflicts of law. 

  
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	 NEWGISTICS, INC.

		
	    By:	 	 /s/ Clarence J. Gabriel, Jr.

		
	    Name:	 	 Clarence J. Gabriel, Jr.

		
	    Title:	 	 President

		
	    By:	 	 /s/ Philip S. Siegel

		
	    Name:	 	 Philip S. Siegel

		
	    Title:	 	 Director and Secretary

Authorized signatories under Corporate Resolutions to Borrow or an authorized signers) under a resolution covering warrants must sign the warrant.

  
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 APPENDIX I 
 NOTICE OF EXERCISE 
 1. The undersigned hereby elects to purchase
             shares of the              stock of NEWGISTICS, INC. pursuant to the terms of the attached warrant,
and tenders herewith payment of the purchase price of such shares in full. 
 1. The undersigned hereby elects to convert the
attached warrant into shares in the manner specified in the warrant. This conversion is exercised with respect to              of the shares covered by the warrant. 

[Strike paragraph that does not apply.] 
 2. Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is specified below; 

Imperial Bank 

Attn: Controllers Department 
 P.O. Box 92991 
 Los Angeles, CA 90009 

Or Registered Assignee 
 3. The undersigned represents it is acquiring the shares solely for its own account and not as a nominee for any other party and not with a view toward the resale or distribution thereof except in
compliance with applicable securities laws. 
  

			
	 IMPERIAL BANK or Registered Assignee

		
	  
 (Signature)
	 	
		
	  
 (Date)
	 	

  
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 EXHIBIT A 
 Anti-Dilution Provisions (For-Preferred Stock Warrants With Existing Anti-Dilution Protection) 
 In the event of the issuance (a “Diluting Issuance”) by the Company, after the Issue Date of the warrant, of securities at a price per share less than the Warrant Price, then the number of
shares of common stock issuable upon conversion of the Shares shall be adjusted, if required, in accordance with those provisions (the “Provisions”) of the Company’s Certificate of Incorporation which apply to Diluting Issuances as in
effect from time to time. 
 Under no circumstances shall the aggregate Warrant Price payable by the Holder upon exercise of the
warrant increase as a result of any adjustment arising from a Diluting Issuance. 

  
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