Sale of Common Stock

Sale of Common Stock. Means the sale by way of merger or otherwise by the Company's stockholders of more than two-thirds of the outstanding Common Stock of the Company to a third party not Affiliated with the Company (i) for cash, or (ii) for common stock that is listed for trading on a national securities exchange or quoted on an automated quotation system, provided that the Company's stockholders hold, in the aggregate, less than 40% of the pro forma outstanding common stock of the acquiror immediately upon... consummation of the transaction, or (iii) for a combination of cash and common stock that is listed for trading on a national securities exchange or quoted on an automated quotation system, provided that the Company's stockholders hold, in the aggregate, less than 40% of the pro forma outstanding common stock of the acquiror immediately upon consummation of the transaction. View More