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FIREPOND INC
·
8-K
Oct 23, 4:06 PM ET
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FIREPOND INC 8-K
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(a) The Company hereby grants to the Purchaser an irrevocable option, subject to paragraph (d) below (the “Purchaser Option”), to purchase up to that number of newly issued shares of Company Common Stock (the “Purchaser Option Shares”) equal to the number of shares of Company Common Stock that, when added to the number of Company Common Stock owned by the Parent, the Purchaser and their Affiliates immediately following consummation of the Offer, shall constitute one share more than 90% of the then outstanding shares of Company Common Stock (after giving effect to the issuance of the Purchaser Option Shares) for a consideration per the Purchaser Option Share equal to the Offer Price.
(b) The Purchaser Option shall be exercisable only after the acceptance for payment of the shares of Company Common Stock tendered pursuant to the Offer by the Purchaser as a result of which the Parent, the Purchaser and their Affiliates would own beneficially at least 80% of the then outstanding shares of Company Common Stock.”
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