A Michigan Registration Rights Agreement is a legally binding agreement between GEN International, Inc. and purchasers of its shares that outlines the rights and obligations of both parties in regard to the sale of shares. This agreement ensures that the purchasers, commonly known as investors, have certain registration rights that allow them to register their shares for sale or transfer under the applicable securities laws of Michigan. The Michigan Registration Rights Agreement typically includes provisions related to the registration process, disclosure requirements, and the timing and method of registration. These provisions are designed to protect the interests of both the company and the purchasers, and to ensure compliance with the securities regulations in Michigan. There are different types of Michigan Registration Rights Agreements that can be entered into between GEN International, Inc. and purchasers. Some common types include: 1. Demand Registration Rights: This type of agreement allows purchasers to request the company to register their shares for sale or transfer. The company is obligated to comply with such requests within a specified timeframe. 2. Piggyback Registration Rights: With this type of agreement, purchasers have the right to "piggyback" on any registration statement filed by the company. This means that the purchasers can include their shares in the registration statement to be sold or transferred alongside the company's shares, without having to file a separate registration statement. 3. S-3 Registration Rights: This type of agreement grants the purchasers the right to have their shares registered on Form S-3, which is a simplified registration form used by companies that meet certain eligibility criteria. This type of registration provides faster and more efficient access to the public markets for the purchasers. 4. Shelf Registration Rights: A shelf registration allows purchasers to have their shares registered in advance for future sales or transfers. This enables the purchasers to have more flexibility in timing their sales or transfers, as the registered shares can be offered to the public over a period of time, as needed. 5. Lock-up Agreement: While not a registration right itself, a lock-up agreement is often included in a Michigan Registration Rights Agreement. It stipulates that the purchasers agree not to sell or transfer their shares for a specific period after an initial public offering or other significant transaction, to maintain market stability. Michigan Registration Rights Agreements are crucial in providing protection and flexibility to both GEN International, Inc. and its purchasers by establishing a clear framework for share sales and transfers. The specific type of agreement entered into depends on the preferences and requirements of the parties involved.
Michigan Registration Rights Agreement between IGEN International, Inc. and purchasers regarding sale of shares
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Demand registration rights, where an investor can force a company to file a registration statement to register the holder's securities so the investor can sell them in the public market without restriction.
What Is Registration Right? A registration right is a right entitling an investor who owns restricted stock to require that a company list the shares publicly so that the investor can sell them. Registration rights, if exercised, can force a privately-held company to become a publicly-traded company.
?Definition? A registration rights provision in a term sheet allows an investor to require a company to register the investor's shares with the SEC when certain conditions are met, ensuring that the investor has the opportunity to sell their shares in the public market.
The Securities Act of 1933 has two basic objectives: To require that investors receive financial and other significant information concerning securities being offered for public sale; and. To prohibit deceit, misrepresentations, and other fraud in the sale of securities.
Related Content. In an unregistered securities offering, an agreement between the issuer and the purchasers of the security that creates an obligation for the issuer to register the re-offer and resale of the securities being offered at some time in the future (usually within six months).
An Investor Rights Agreement (IRA) is an agreement between an investor and a company that contractually guarantees the investor certain rights including, but not limited to, voting rights, inspection rights, rights of first refusal, and observer rights.
If the seller complies with Rule 144, the sale will not violate the registration requirements of the Securities Act. Rule 144 imposes certain holding period, informational, volume, manner of sale and notice obligations in certain situations and for certain stockholders.
Primary tabs Form S-3 is the registration statement that the Securities and Exchange Commission (SEC) requires reporting company issuers to file in order to issue shelf offerings.