Examples of Xxxxxxxxx Common Stock in a sentence
The number of Founder Shares issued was determined based on the expectation that the Founder Shares would represent 20% of the outstanding shares of Xxxxxxxxx common stock upon completion of the Xxxxxxxxx IPO.
The Sponsor and Xxxxxxxxx’x directors and officers have agreed to vote any shares of Xxxxxxxxx common stock owned by them in favor of each of the proposals presented at the Xxxxxxxxx Special Meeting.
Currently, the Sponsor owns 20% of Xxxxxxxxx common stock, consisting of the Founder Shares (as defined herein).
If you exercise your redemption rights, then you will be exchanging your shares of Xxxxxxxxx common stock for cash and you will cease to have any rights as a Xxxxxxxxx stockholder (other than the right to receive the redemption amount) upon consummation of the Merger.
A separate proposal with respect to certain governance provisions in the Proposed Charter in order to give holders of Xxxxxxxxx common stock the opportunity to present their separate views on important corporate governance procedures and which will be voted upon on a non-binding advisory basis.
In addition, the Founder Shares are subject to a lock-up until the earlier of (i) one year after the completion of Xxxxxxxxx'x initial business combination; and (ii) the date on which Xxxxxxxxx consummates a liquidation, merger, stock exchange, reorganization or other similar transaction after Xxxxxxxxx’x initial business combination that results in all of Xxxxxxxxx’x public stockholders having the right to exchange their shares of Xxxxxxxxx common stock for cash, securities or other property.
Pursuant to the terms of the Sponsor Agreement, the Sponsor and Xxxxxxxxx’x directors and officers have agreed to waive their redemption rights with respect to any shares of Xxxxxxxxx common stock they may hold in connection with the completion of a business combination.
Xxxxxxxxx common stock features certain redemption rights that are considered to be outside of Xxxxxxxxx’x control and subject to occurrence of uncertain future events.
Only holders of record of Xxxxxxxxx common stock at the close of business on April 28, 2021 (the “Xxxxxxxxx Record Date”) are entitled to notice of the Xxxxxxxxx Special Meeting and to vote and have their votes counted at the Xxxxxxxxx Special Meeting and any adjournments or postponements of the Xxxxxxxxx Special Meeting.
Xxxxxxxxx Sponsor II LLC, a Delaware limited liability company (the “Sponsor”), and Xxxxxxxxx’x directors and officers have agreed to waive their redemption rights in connection with the consummation of the Merger with respect to any shares of Xxxxxxxxx common stock they may hold.