SEC Contract Filing

Filing Date: 2022-05-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>6
<FILENAME>ex_368206.htm
<DESCRIPTION>EXHIBIT 10.1 - SECURITIES PURCHASE AGREEMENT DATED APRIL 28, 2022, BY AND AMONG ORBITAL ENERGY GROUP, INC. AND THE PURCHASER IDENTIFIED ON THE SIGNATURE PAGES THERETO, SIGNED AND SUBMITTED THIS 2ND DAY OF MAY, 2022
<TEXT>
<html><head>
	<title>ex_368206.htm</title>
	<!-- Generated by ThunderDome Portal - 5/2/2022 8:13:00 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size:10pt;font-family:'Times New Roman';padding:0in .1in;">
<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES PURCHASE AGREEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;">This Securities Purchase Agreement (this &#8220;<u>Agreement</u>&#8221;) is dated as of April 28, 2022, between Orbital Energy Group, Inc., a corporation incorporated under the laws of the state of Colorado (the &#8220;<u>Company</u>&#8221;), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a &#8220;<u>Purchaser</u>&#8221; and collectively the &#8220;<u>Purchasers</u>&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;">WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act (as defined below), the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described in this Agreement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;">NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>ARTICLE I.</b><br>
DEFINITIONS</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;">1.1&nbsp;<u>Definitions</u>.&nbsp;&nbsp;In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth in this Section 1.1:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 12pt;text-indent:36pt;"><u>&#8220;Acquiring Person</u>&#8221; shall have the meaning ascribed to such term in Section 4.5.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;"><u>&#8220;Action</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(j).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;"><u>&#8220;Affiliate</u>&#8221; means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 405 under the Securities Act.&nbsp;&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;"><u>&#8220;Board of Directors</u>&#8221; means the board of directors of the Company.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:48pt;"><u>&#8220;Business Day</u>&#8221; means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed;&nbsp;<u>provided</u>,&nbsp;<u>however</u>, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to &#8220;stay at home&#8221;, &#8220;shelter-in-place&#8221;, &#8220;non-essential employee&#8221;&nbsp; or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are