SEC Contract Filing

Filing Date: 2020-02-03

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d879857dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUBSCRIPTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CytoDyn Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1111 Main Street, Suite 660 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Vancouver, Washington 98660 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Subscription. </B>The undersigned (the
&#147;Purchaser&#148;), intending to be legally bound, hereby irrevocably agrees to purchase from CytoDyn Inc., a Delaware corporation (the &#147;Company&#148;), in the amounts set forth on the signature page hereof, (i)&nbsp;shares of Series D
Convertible Preferred Stock, $0.001 par value per share of the Company (the &#147;Series D Preferred Stock&#148;), and (ii)&nbsp;a warrant, substantially in the form attached hereto as <U>Exhibit B</U> (the &#147;Warrants&#148;) to purchase a number
of shares of common stock, $0.001 par value, of the Company (the &#147;Common Stock&#148;), equal to 40% of the number of shares of Common Stock initially issuable upon conversion of the Series D Preferred Stock. The shares of Series D Preferred
Stock will have the relative rights, preferences and designations set forth in the Certificate of Designation of Preferences and Rights, as amended, set forth in <U>Exhibit A</U> attached hereto (the &#147;Certificate of Designation&#148;). The
Warrants will be exercisable for Warrant Shares for a <FONT STYLE="white-space:nowrap">5-year</FONT> period commencing at the Closing (as defined below) at an exercise price of $1.00 per share. The Series D Preferred Stock shall be convertible into
Conversion Shares at a conversion price of $0.80 per share. The Series D Preferred Stock, the shares of Common Stock issuable upon conversion of the Series D Preferred Stock (the &#147;Conversion Shares&#148;), the Warrants and the shares of Common
Stock issuable upon exercise of the Warrants (collectively, the &#147;Warrant Shares&#148;), shall be referred to collectively as the &#147;Securities&#148; herein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. <B>The Offering</B>. This subscription is submitted to you in accordance with and subject to the terms and conditions described in this Subscription
Agreement relating to the offering by the Company of Series D Preferred Stock and related Warrants to certain qualifying investors including the Purchaser (the &#147;Offering&#148;). The closing of the Offering to which this Subscription Agreement
relates (the &#147;Closing&#148;) may be scheduled by the Company at any time after the execution of this Subscription Agreement. Additional Securities may have been and may continue to be offered and sold from time to time in the Offering, until
the date on which the Offering is concluded, through additional closings conducted by the Company with respect to those additional Securities sold. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.
<B>Payment. </B>The Purchaser will immediately make a wire transfer payment to the Company pursuant to the instructions included herein in the full amount of the purchase price of the Securities being subscribed for hereby. Wire transfer
instructions are set forth on the Subscription Instructions included on the last page hereof under the heading &#147;To subscribe for Securities in the private offering of CytoDyn Inc.&#148; Together with a wire transfer (or, subject to the
Company&#146;s approval in its sole discretion in lieu of a wire transfer, a check) for the full purchase price, the Purchaser is delivering a completed and executed omnibus Signature Page to this Subscription Agreement and an initialed Accredited
Investor Certification. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. <B>Acceptance of Subscription. </B>The Purchaser understands and agrees that the Company, in its sole
discretion, reserves the right to accept or reject this or any other subscription for Securities, in whole or in part, notwithstanding prior receipt by the Purchaser of notice of acceptance of this subscription. The Company shall have no obligation
hereunder, including the issuance of the Series D Preferred Stock and the Warrants, until the Company shall execute and deliver to the Purchaser an executed copy of this Subscription Agreement. If this subscription is rejected in whole or the
Offering of Securities is terminated, all funds received from the Purchaser will be returned without interest or offset, and this Subscription Agreement shall thereafter be of no further force or effect. If this subscription is rejected in part, the
funds for the rejected portion of this subscription will be returned without interest or offset, and this Subscription Agreement will continue in full force and effect to the extent this subscription was accepted. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4. Registration Rights. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10