FR EA

Extract to table

Pull the structured facts out of a document: parties, dates, amounts, obligations.

Extract to table / lock-up-release-procedures-letter.docx
lock-up-release-procedures-letter.docx · 1010-00002

Parties

HARKNESS LLP
Secretary Arbor Health Technologies Inc
Arbor Health Technologies Inc
Calloway Pierce Securities LLC
Velthorn Capital Partners Inc
Pemberton Wallis LLC
Delaware General Corp

Dates

February 14, 2024
February 13, 2024
February 8, 2024
August 6, 2024

Amounts

$0.001
$12,400,000

Obligations

A Lock-Up Party may dispose of up to ten percent (10%) of such Lock-Up Party's locked-up shares for the purpose of satisfying tax withholding obligations arising from the vesting of restricted stock units ("RSUs") granted under the Company's equity incentive plans, provided that such shares are disposed of solely for the purpose of satisfying such tax withholding obligations and not for any other purpose, and provided further that any shares received upon such vesting shall continue to be subject to the Lock-Up Agreement
Notification and Announcement Requirements In the event that Whitfield Barrow approves an early release of any Lock-Up Party's restrictions, the following notification and announcement procedures must be followed: (1) Notification to the Company
At least two (2) business days before the effective date of the early release, Whitfield Barrow must provide written notification to the Company of the impending release or waiver
At least two (2) business days before the effective date of the early release, either Whitfield Barrow or the Company must announce the impending release or waiver through a major news service or press release
Schedule 13G filers are subject to different amendment timelines depending on the category of filer, but generally must amend within certain specified periods after the end of the calendar year or month in which a material change occurs
Accordingly, the potential Section 382 implications of any early lock-up release involving a 5% shareholder must be carefully evaluated before the Company supports or facilitates such a release