Virginia 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 Virginia Registration Rights Agreement is a legal document that establishes the rights and obligations of Visible Genetics, Inc. and the purchasers of common shares of the company regarding the registration of those shares with the Securities and Exchange Commission (SEC). This agreement grants certain privileges and protections to the purchasers of common shares, allowing them to register their shares with the SEC and potentially offer them for public sale. It ensures transparency and compliance with the regulatory requirements set forth by the SEC. Some key features and provisions of the Virginia Registration Rights Agreement include: 1. Registration Statement: The agreement specifies that Visible Genetics, Inc. will file a registration statement with the SEC within a certain period, generally within 90 or 180 days after the closing of the purchase transaction. This statement includes all necessary information about the company and the shares being registered. 2. Demand Registration: The agreement may provide the purchasers with the right to request Visible Genetics, Inc. to register their shares for sale to the public. This allows them to sell their shares at their discretion and at the desired time. However, this provision may come with certain conditions and limitations. 3. Piggyback Registration: In the event that Visible Genetics, Inc. decides to register any of its securities for public sale, the purchasers have the right to include their shares in the registration, enabling them to sell their shares alongside the company. This provision ensures that the purchasers have the opportunity to benefit from any potential market offerings initiated by the company. 4. Expenses and Indemnification: The agreement details the responsibilities for covering the expenses associated with the registration process, such as legal fees, filing fees, and printing costs. Visible Genetics, Inc. usually bears these expenses, but the agreement may also include provisions for allocating certain expenses to the purchasers under specific circumstances. The agreement may also include indemnification clauses, which protect the purchasers from any losses incurred due to material misstatements or omissions in the registration statement. 5. Lock-Up Period: In some cases, the agreement may stipulate a lock-up period, during which the purchasers are restricted from selling their shares after the registration becomes effective. This provision is usually in place to maintain market stability and prevent any sudden disruption caused by the massive release of shares into the market. Different types of Virginia Registration Rights Agreements between Visible Genetics, Inc. and the purchasers of common shares may exist based on individual circumstances and negotiations. The specifics of each agreement can vary, including the number of shares being registered, the duration of the registration period, the conditions for triggering demand registration, and other relevant terms. In summary, a Virginia Registration Rights Agreement is a comprehensive agreement that outlines the procedures, obligations, and rights of Visible Genetics, Inc. and the purchasers of common shares regarding the registration of shares with the SEC. It ensures compliance with regulatory requirements and provides shareholders with mechanisms for participating in potential public offerings while safeguarding their interests.

A Virginia Registration Rights Agreement is a legal document that establishes the rights and obligations of Visible Genetics, Inc. and the purchasers of common shares of the company regarding the registration of those shares with the Securities and Exchange Commission (SEC). This agreement grants certain privileges and protections to the purchasers of common shares, allowing them to register their shares with the SEC and potentially offer them for public sale. It ensures transparency and compliance with the regulatory requirements set forth by the SEC. Some key features and provisions of the Virginia Registration Rights Agreement include: 1. Registration Statement: The agreement specifies that Visible Genetics, Inc. will file a registration statement with the SEC within a certain period, generally within 90 or 180 days after the closing of the purchase transaction. This statement includes all necessary information about the company and the shares being registered. 2. Demand Registration: The agreement may provide the purchasers with the right to request Visible Genetics, Inc. to register their shares for sale to the public. This allows them to sell their shares at their discretion and at the desired time. However, this provision may come with certain conditions and limitations. 3. Piggyback Registration: In the event that Visible Genetics, Inc. decides to register any of its securities for public sale, the purchasers have the right to include their shares in the registration, enabling them to sell their shares alongside the company. This provision ensures that the purchasers have the opportunity to benefit from any potential market offerings initiated by the company. 4. Expenses and Indemnification: The agreement details the responsibilities for covering the expenses associated with the registration process, such as legal fees, filing fees, and printing costs. Visible Genetics, Inc. usually bears these expenses, but the agreement may also include provisions for allocating certain expenses to the purchasers under specific circumstances. The agreement may also include indemnification clauses, which protect the purchasers from any losses incurred due to material misstatements or omissions in the registration statement. 5. Lock-Up Period: In some cases, the agreement may stipulate a lock-up period, during which the purchasers are restricted from selling their shares after the registration becomes effective. This provision is usually in place to maintain market stability and prevent any sudden disruption caused by the massive release of shares into the market. Different types of Virginia Registration Rights Agreements between Visible Genetics, Inc. and the purchasers of common shares may exist based on individual circumstances and negotiations. The specifics of each agreement can vary, including the number of shares being registered, the duration of the registration period, the conditions for triggering demand registration, and other relevant terms. In summary, a Virginia Registration Rights Agreement is a comprehensive agreement that outlines the procedures, obligations, and rights of Visible Genetics, Inc. and the purchasers of common shares regarding the registration of shares with the SEC. It ensures compliance with regulatory requirements and provides shareholders with mechanisms for participating in potential public offerings while safeguarding their interests.