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Document Preview Rights Agreement [Amendment No. 1] |
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Title: |
Rights Agreement [Amendment No. 1] |
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Entities: |
Mellon Investor Services LLC; SciClone Pharmaceuticals, Inc. |
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Date: |
2003 |
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Size: |
Preview shows 3KB of 10KB total |
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Price: |
$32 |
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ID: |
#326637 |
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FIRST AMENDMENT TO RIGHTS AGREEMENT
This First Amendment to Rights Agreement, dated as of July 17, 2003
(this "Amendment"), is entered into by and between SciClone Pharmaceuticals,
Inc., a California corporation (the "Company"), and Mellon Investor Services LLC
("Mellon") with reference to the following facts:
RECITALS
A. The Company and Mellon entered into a Rights Agreement on July 25, 1997
(the "Rights Agreement").
B. Section 27 of the Rights Agreement provides that, for so long as
the Rights (as defined in the Rights Agreement) are then redeemable, the Company
may, in its sole and absolute discretion, supplement or amend any provision of
the Rights Agreement without the approval of any holders of the Rights.
C. The Company's Board of Directors has approved the amendment of the
Rights Agreement to terminate the exercisability of the Rights hereunder and to
terminate the Rights Agreement and any rights of holders of the Rights
hereunder, effective upon the consummation of the reincorporation of the Company
from California to Delaware (the "Reincorporation").
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, and the
representations, warranties, and conditions set forth below, the parties hereto,
intending to be legally bound, hereby agree as follows:
1. Section 7(a) of the Rights Agreement shall be amended and restated
in its entirety to read as follows:
"7. Exercise of Rights; Purchase Price; Expiration Date of Rights.
(a) Subject to Section 11(a)(ii) hereof, the Rights shall become
exercisable, and may be exercised to purchase Preferred Stock, except as
otherwise provided herein, in whole or in part at any time after the
Distribution Date upon surrender of the Right Certificate, with the form of
election to purchase on the reverse side thereof duly executed (with such
signature duly guaranteed), to the Rights Agent at 235 Montgomery Street, 23rd
Floor, San Francisco, CA 94104, Attn: Relationship Manager, together with
payment of the Purchase Price with respect to each Right exercised, subject to
adjustment as hereinafter provided, before the earlier of: (i) the completion of
both (x) the filing of a duly executed certificate of merger with the Secretary
of State of the State of Delaware merging SciClone Pharmaceuticals, Inc., a
California corporation ("SciClone California") with and into SciClone
Pharmaceuticals, Inc., a Delaware corporation ("SciClone Delaware") in
accordance with the applicable provisions of the Delaware General Corporation
Law (the "Delaware Certificate of Merger"); and (y) the filing of the Delaware
Certificate of Merger with the Secretary of State of the State of California in
accordance with the provisions of the California Corporations Code effecting the
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