Delaware Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company

• Category: Corporations - Public - Rights
• State: Multi-State
• Control #: US-EG-9209
• Format: Word; Rich Text

Description

Registration Rights Agreement between Visible Genetics, Inc. and the purchasers of common shares of the company (investors) regarding sale of shares dated December 14, 1999. 13 pages. Delaware Registration Rights Agreement is a legal document drafted between Visible Genetics, Inc. and purchasers of common shares, establishing certain rights and obligations related to the registration of these shares with the U.S. Securities and Exchange Commission (SEC) in accordance with the regulations set forth by the Delaware state law. This agreement ensures that the purchasers have the ability to freely trade their shares on the open market, providing them with liquidity and potential returns on their investment. The Delaware Registration Rights Agreement primarily serves to protect the interests of the purchasers by granting them the right to request the registration of their shares with the SEC or participate in the registration initiated by Visible Genetics, Inc. In this context, it is important to mention two different types of registration rights agreements that may be implemented: 1. Demand Registration Rights: This type of agreement grants the purchasers the ability to compel Visible Genetics, Inc. to register their shares with the SEC upon their request. The agreement typically outlines the conditions that must be met for a demand registration request to be valid, including minimum number of shares required or a specific time frame. 2. Piggyback Registration Rights: Under this type of registration rights agreement, the purchasers have the opportunity to have their shares registered alongside a registration initiated by Visible Genetics, Inc., such as an initial public offering (IPO) or secondary offering. Essentially, this provision allows the purchasers to "piggyback" on the company's registration, enabling them to sell their shares in conjunction with the company's offering. The Delaware Registration Rights Agreement also covers various aspects related to the registration process, such as registration expenses, underwriting arrangements, and representations and warranties made by Visible Genetics, Inc. regarding the accuracy and completeness of the registration statement. Additionally, the agreement may contain provisions detailing the obligations of both parties with respect to information sharing and confidentiality. By entering into the Delaware Registration Rights Agreement, Visible Genetics, Inc. demonstrates its commitment to providing its shareholders with a liquid market for their shares and complying with the applicable securities laws. The agreement ensures transparency, fairness, and equal treatment among all shareholders, facilitating a harmonious relationship between the company and its investors.

Delaware Registration Rights Agreement is a legal document drafted between Visible Genetics, Inc. and purchasers of common shares, establishing certain rights and obligations related to the registration of these shares with the U.S. Securities and Exchange Commission (SEC) in accordance with the regulations set forth by the Delaware state law. This agreement ensures that the purchasers have the ability to freely trade their shares on the open market, providing them with liquidity and potential returns on their investment. The Delaware Registration Rights Agreement primarily serves to protect the interests of the purchasers by granting them the right to request the registration of their shares with the SEC or participate in the registration initiated by Visible Genetics, Inc. In this context, it is important to mention two different types of registration rights agreements that may be implemented: 1. Demand Registration Rights: This type of agreement grants the purchasers the ability to compel Visible Genetics, Inc. to register their shares with the SEC upon their request. The agreement typically outlines the conditions that must be met for a demand registration request to be valid, including minimum number of shares required or a specific time frame. 2. Piggyback Registration Rights: Under this type of registration rights agreement, the purchasers have the opportunity to have their shares registered alongside a registration initiated by Visible Genetics, Inc., such as an initial public offering (IPO) or secondary offering. Essentially, this provision allows the purchasers to "piggyback" on the company's registration, enabling them to sell their shares in conjunction with the company's offering. The Delaware Registration Rights Agreement also covers various aspects related to the registration process, such as registration expenses, underwriting arrangements, and representations and warranties made by Visible Genetics, Inc. regarding the accuracy and completeness of the registration statement. Additionally, the agreement may contain provisions detailing the obligations of both parties with respect to information sharing and confidentiality. By entering into the Delaware Registration Rights Agreement, Visible Genetics, Inc. demonstrates its commitment to providing its shareholders with a liquid market for their shares and complying with the applicable securities laws. The agreement ensures transparency, fairness, and equal treatment among all shareholders, facilitating a harmonious relationship between the company and its investors.