North Carolina 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. A North Carolina Registration Rights Agreement is a legal document that outlines the rights and obligations of Visible Genetics, Inc. and the purchasers of common shares of the company regarding the registration of these shares with the appropriate regulatory authorities in North Carolina. The purpose of this agreement is to provide the purchasers with certain rights to have their shares registered for sale, which ensures liquidity and allows them to freely transfer their ownership interests in Visible Genetics, Inc. By registering the shares, the company also enhances its ability to access public markets for future capital raises. The North Carolina Registration Rights Agreement typically includes the following key provisions: 1. Registration Statement: Visible Genetics, Inc. agrees to prepare and file a registration statement with the North Carolina Secretary of State or any other relevant regulatory authority to register the common shares held by the purchasers. This registration statement contains important information about the company and its shares and is made available to potential investors. 2. Demand Registration: The agreement may grant the purchasers the right to request that Visible Genetics, Inc. registers their shares for sale in a public offering. The company has an obligation to use reasonable efforts to fulfill this demand within a specified timeframe. 3. Piggyback Registration: The purchasers may also have the right to include their shares in any registration statement filed by the company on behalf of its existing shareholders or for its own capital raising purposes, subject to certain limitations and conditions. 4. Expenses: The agreement typically addresses the allocation of expenses related to the registration process, such as filing fees, legal fees, and printing costs. These expenses are usually borne by Visible Genetics, Inc., but there may be specific circumstances where the purchasers are responsible for their portion. Different types of North Carolina Registration Rights Agreements between Visible Genetics, Inc. and the purchasers of common shares may be categorized based on the specific terms and conditions agreed upon by the parties. Some possible variations of such agreements may include: 1. Standard Registration Rights Agreement: This type of agreement includes the basic provisions described above, without any additional or unique features tailored to specific circumstances. 2. S-3 Shelf Registration Rights Agreement: If Visible Genetics, Inc. qualifies for the use of Form S-3 or a similar registration form, this agreement may allow the purchasers to request registration for resale on short notice, without an underwriter, which enhances the liquidity of their shares. 3. Lock-up Agreement: In certain situations, Visible Genetics, Inc. may require the purchasers to agree to a lock-up period, during which they cannot sell or transfer their shares. This helps maintain stability and prevents a sudden influx of shares in the market after an IPO or other public offering. In summary, a North Carolina Registration Rights Agreement is a crucial legal document that establishes the rights and obligations of Visible Genetics, Inc. and the purchasers of common shares concerning the registration and sale of these shares. It ensures transparency, liquidity, and compliance with applicable laws and regulations in North Carolina.

A North Carolina Registration Rights Agreement is a legal document that outlines the rights and obligations of Visible Genetics, Inc. and the purchasers of common shares of the company regarding the registration of these shares with the appropriate regulatory authorities in North Carolina. The purpose of this agreement is to provide the purchasers with certain rights to have their shares registered for sale, which ensures liquidity and allows them to freely transfer their ownership interests in Visible Genetics, Inc. By registering the shares, the company also enhances its ability to access public markets for future capital raises. The North Carolina Registration Rights Agreement typically includes the following key provisions: 1. Registration Statement: Visible Genetics, Inc. agrees to prepare and file a registration statement with the North Carolina Secretary of State or any other relevant regulatory authority to register the common shares held by the purchasers. This registration statement contains important information about the company and its shares and is made available to potential investors. 2. Demand Registration: The agreement may grant the purchasers the right to request that Visible Genetics, Inc. registers their shares for sale in a public offering. The company has an obligation to use reasonable efforts to fulfill this demand within a specified timeframe. 3. Piggyback Registration: The purchasers may also have the right to include their shares in any registration statement filed by the company on behalf of its existing shareholders or for its own capital raising purposes, subject to certain limitations and conditions. 4. Expenses: The agreement typically addresses the allocation of expenses related to the registration process, such as filing fees, legal fees, and printing costs. These expenses are usually borne by Visible Genetics, Inc., but there may be specific circumstances where the purchasers are responsible for their portion. Different types of North Carolina Registration Rights Agreements between Visible Genetics, Inc. and the purchasers of common shares may be categorized based on the specific terms and conditions agreed upon by the parties. Some possible variations of such agreements may include: 1. Standard Registration Rights Agreement: This type of agreement includes the basic provisions described above, without any additional or unique features tailored to specific circumstances. 2. S-3 Shelf Registration Rights Agreement: If Visible Genetics, Inc. qualifies for the use of Form S-3 or a similar registration form, this agreement may allow the purchasers to request registration for resale on short notice, without an underwriter, which enhances the liquidity of their shares. 3. Lock-up Agreement: In certain situations, Visible Genetics, Inc. may require the purchasers to agree to a lock-up period, during which they cannot sell or transfer their shares. This helps maintain stability and prevents a sudden influx of shares in the market after an IPO or other public offering. In summary, a North Carolina Registration Rights Agreement is a crucial legal document that establishes the rights and obligations of Visible Genetics, Inc. and the purchasers of common shares concerning the registration and sale of these shares. It ensures transparency, liquidity, and compliance with applicable laws and regulations in North Carolina.