SEC Contract Filing

Filing Date: 2023-03-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101-02282023.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i0ba9c72d570341e4aebf8958f6640108_1"></div><div style="min-height:54pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exhibit 10.1</font></div></div><div style="margin-bottom:12pt;padding-right:-18pt;text-align:right"><font><br></font></div><div style="margin-bottom:12pt;margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">STOCK PURCHASE AGREEMENT</font></div><div style="text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">THIS STOCK PURCHASE AGREEMENT (the &#8220;Agreement&#8221;) is made as of February __, 2023, by and between HeartBeam, Inc., a Delaware corporation (the &#8220;Company&#8221;), and Maverick Capital Partners, LLC, a Delaware limited liability company (the &#8220;Investor&#8221;).</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">WHEREAS, the Company is seeking interim financing to enable it to further develop, test and market its products&#59;</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">WHEREAS, the Investor is willing to provide additional financing to benefit the Company&#59; and</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">WHEREAS, in order to accomplish the foregoing, the Investor desires to purchase from the Company, and the Company desires to sell to the Investor, up to $5,000,000 worth of common stock&#59;</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">THE PARTIES HEREBY AGREE AS FOLLOWS&#58;</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Purchase and Sale of Stock</font><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">.</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.1&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Sale and Issuance of Stock</font><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">. Subject to the terms and conditions of this Agreement, the Investor may purchase, and the Company may sell and issue to the Investor, up to $5,000,000 worth of the Company&#8217;s common stock, par value $0.0001 (the &#8220;Common Stock&#8221;). Draw Down requests shall follow the Draw Down Rules set forth in Section 1.2, below. The Investor shall purchase such Common Stock at such times on or before May 31, 2023 and in such amounts as the Company may elect pursuant to this Section 1.1 and Section 1.2 hereof, provided that (a) the initial purchase shall consist of Common Stock for an aggregate price of $500,000, (b) subsequent purchases of Common Stock shall be for a minimum of $100,000 or an integral multiple thereof, and (c) the Investor shall purchase the Common Stock only if it is satisfied with its due diligence review of the Company following each &#8220;Draw Down Notice&#8221; as defined below and the Company&#8217;s Form S-3 registration statement remains effective with the Securities and Exchange Commission (&#8220;SEC&#8221;) for the resale of all shares of Common Stock received by the Investor hereunder. </font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Draw Down Rules</font><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">. At any time, the Company may, in its sole discretion, issue a &#8220;Draw Down Notice&#8221; to the Investor. The Draw Down Notice shall indicate the dollar amount of the requested Draw Down and no Draw Down shall exceed $500,000. Each Draw Down Notice shall commence a &#8220;Draw Down Pricing Period,&#8221; which shall mean a period of five (5) consecutive trading days preceding a &#8220;Draw Down Closing Date&#8221; (as defined below).</font></div><div style="margin-top:12pt;text-indent:63pt"><font style="color:#000000;font-family:'Times',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Only one Draw Down shall be allowed in each Draw Down Pricing Period. Each Pricing Period shall mean a period of five (5) consecutive trading days preceding a Draw Down Notice, and must be separated by one week. If a Draw Down is not objected to by the Investor, the Company shall issue and deliver unto the Investor shares of Common Stock for the amount of the approved Draw Down and such Common Stock shall be delivered to the Invest