Eligible IPO

Eligible IPO. Means (x) a public offering by the Company or its shareholders of shares of Common Stock pursuant to a registration statement under the Securities Act of 1933 that results in (i) aggregate cash proceeds to the Company and selling shareholders of an amount equal to or greater than $50 million (before deduction of underwriting discounts and commissions) and (ii) the listing of Common Stock on any national securities exchange or 8 quotation on the national market system of The Nasdaq Stock... Market (or any successor or similar system) or (y) consummation of any transaction that results in (i) the listing of Common Stock on any national securities exchange or quotation on the national market system of The NASDAQ Stock Market (or any successor or similar system) and (ii) shares Common Stock having a market value of at least $50 million held by Persons that are not "affiliates" of the Company (as such term is used in Rule 144 under the Securities Act of 1933). View More