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Securities Purchase Agreement

 

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Title:

Securities Purchase Agreement

Entities:

BIO Plexus Inc; ICU Medical, Inc.

Date:

2002

Size:

Preview shows 6KB of 52KB total

Price:

$45

ID:

#1435745

 

 

► Purchase & Sale ► Purchase ► Stock ► Securities Purchase Agreements
► Healthcare ► Medical Equipment & Supplies

 

 

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                          SECURITIES PURCHASE AGREEMENT



THIS SECURITIES PURCHASE AGREEMENT (this "Agreement") is made as of October
29, 2002 by and among ICU Medical, Inc., a Delaware corporation ("Buyer") and
the entities and individuals listed under "Sellers" on the signature pages of
this Agreement (collectively, "Sellers" and each individually, a "Seller").

RECITALS

A. Bio-Plexus, Inc., a Delaware corporation (the "Company"), has issued and
outstanding 11,539,941 shares of common stock, $0.001 par value, (the "Common
Stock") and warrants to purchase 1,314,060 shares of Common Stock having an
initial exercise price (subject to adjustment) of $2.28 per share (the "$2.28
Warrants").

B. Each Seller owns the number of shares of Common Stock and $2.28 Warrants
to purchase the number of shares of Common Stock listed on Schedule 2.1 opposite
each Seller's name, and the Common Stock and $2.28 Warrants owned by Sellers
(together, the "Securities") constitute in the aggregate 9,695,961 shares, or
approximately 84% of the outstanding Common Stock, and $2.28 Warrants to
purchase 1,294,788 shares of Common Stock.

C. Sellers desire to sell, and Buyer desires to purchase, all of the
Securities, subject to the terms and conditions set forth in this Agreement.

D. Under the terms of a Note Purchase Agreement of the same date as this
Agreement (the "Note Purchase Agreement") between Buyer and Persons listed under
"Note Sellers" on the signature pages of the Note Purchase Agreement ("Note
Sellers"), Buyer has agreed to purchase, and Note Sellers have agreed to sell,
7% Senior Subordinated Non-Convertible Promissory Notes of the Company in the
aggregate principal amount of $2,499,999 (the "Notes").

AGREEMENT

NOW, THEREFORE, in consideration of the mutual agreements contained in this
Agreement, the parties hereto agree as follows:


<PAGE>


1. DEFINITIONS

For purposes of this Agreement, the following terms have the meanings
specified or referred to in this Section 1:

"$2.28 Warrants" -- as defined in Recital A.

"Acquisition Agreements" -- as defined in Section 3.5.

"Beneficial Owner" -- has the meaning ascribed to that term in Rule 13d-3
under the Securities Exchange Act of 1934, as amended.

"Best Efforts" -- commercially reasonable best efforts (whether or not
capitalized in this Agreement).

"Buyer" -- as defined in the Preamble.

"Closing" -- as defined in Section 2.3.

"Closing Date" -- the date and time that the Closing takes place.

"Common Stock" -- as defined in Recital A.

"Company" - as defined in Recital A.

"ComVest" - ComVest Venture Partners, L.P., a Delaware limited partnership.

"Contracts" -- as defined in Section 3.4.

"Delegated Actions" -- as defined in Section 5.7.

"Note Purchase Agreement" -- as defined in Recital D.

"Note Sellers" -- as defined in Recital D.

"Notes" -- as defined in Recital D.

"Ordinary Course of Business" -- an action taken by the Company will be
deemed to have been taken in the "Ordinary Course of Business" only if:

(a) such action is consistent with the past practices of the Company
and is taken in the ordinary course of the normal day-to-day operations of the
Company;

(b) such action is not required to be authorized by the board of
directors of the Company (or by any person or group of persons exercising
similar authority); and


2


<PAGE>


(c) such action is similar in nature and magnitude to actions
customarily taken, without any authorization by the board of directors (or by
any person or group of persons exercising similar authority), in the ordinary
course of the normal day-to-day operations of other entities that are in the
same line of business as the Company.

"Organizational Documents" -- (a) the articles or certificate of
incorporation or association and the bylaws of a corporation; (b) the
partnership agreement and any statement of partnership of a general partnership;
(c) the limited partnership agreement and the certificate of limited partnership
of a limited partnership; (d) the articles of association or certificate of
formation and the bylaws or the limited liability company or operating agreement
of a limited liability company; (e) any charter or similar document adopted or
filed in connection with the creation, formation, or organization of any entity;
and (f) any amendment to any of the foregoing.

"Person" -- an individual, partnership, corporation, business trust,
limited liability company, limited liability partnership, joint stock company,
trust, unincorporated association, joint venture or other entity.

"Securities" -- as defined in Recital B.

"Securities Act"-- the Securities Act of 1933, as amended.

"Sellers" and "Seller" -- as defined in the Preamble.

2. PURCHASE; CLOSING

2.1 PURCHASE OF SECURITIES. On the basis of the representations,
warranties and agreements set forth herein, and upon the terms and conditions

 

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