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As filed with the Securities and Exchange Commission on
September 22, 2008
Registration
No. 333-150227
UNITED STATES SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
AMENDMENT NO. 11 TO
Form S-1
REGISTRATION
STATEMENT
UNDER
THE SECURITIES ACT OF
1933
FLUIDIGM CORPORATION
(Exact name of Registrant as
specified in its charter)
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Delaware
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3826
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77-0513190
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(State or other jurisdiction
of
incorporation or organization)
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(Primary Standard Industrial
Classification Code Number)
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(I.R.S. Employer
Identification Number)
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7000 Shoreline Court, Suite 100
South San Francisco, CA 94080
(650) 266-6000
(Address, including zip code,
and telephone number,
including area code, of Registrants principal executive
offices)
Gajus V. Worthington
President and Chief Executive Officer
7000 Shoreline Court, Suite 100
South San Francisco, CA 94080
(650) 266-6000
(Name, address, including zip
code, and telephone number,
including area code, of agent for service)
Copies to:
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David J. Segre
Robert F. Kornegay
Asaf H. Kharal
Wilson Sonsini Goodrich & Rosati P.C.
650 Page Mill Road
Palo Alto, CA 94304
Telephone:
(650) 493-9300
Telecopy:
(650) 493-6811
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William M. Smith
Vice President, Legal Affairs
and General Counsel
7000 Shoreline Court, Suite 100
South San Francisco, CA 94080
Telephone: (650) 266-6000
Telecopy: (650) 871-7152
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Charles K. Ruck
B. Shayne Kennedy
Latham & Watkins LLP
650 Town Center Drive,
20th Floor
Costa Mesa, CA 92626
Telephone: (714) 540-1235
Telecopy: (714) 755-8290
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Approximate date of commencement of proposed sale to the
public: As soon as practicable after the
effective date of this Registration Statement.
If any of the securities being registered on this Form are to be
offered on a delayed or continuous basis pursuant to
Rule 415 under the Securities Act, as amended, check the
following
box. o
If this Form is filed to register additional securities for an
offering pursuant to Rule 462(b) under the Securities Act,
please check the following box and list the Securities Act
registration statement number of the earlier effective
registration statement for the same
offering. o
If this Form is a post-effective amendment filed pursuant to
Rule 462(c) under the Securities Act, check the following
box and list the Securities Act registration statement number of
the earlier effective registration statement for the same
offering. o
If this Form is a post-effective amendment filed pursuant to
Rule 462(d) under the Securities Act, check the following
box and list the Securities Act registration statement number of
the earlier effective registration statement for the same
offering. o
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company. See the definitions of
large accelerated filer, accelerated
filer and smaller reporting company in Ruler
12b-2 of the
Exchange Act. (Check one):
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Large accelerated
filer o
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Accelerated
filer o
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Non-accelerated
filer o
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Smaller reporting
company o
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(Do not check if a smaller reporting company)
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CALCULATION OF REGISTRATION
FEE
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Proposed Maximum
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Amount of
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Title of Each Class of
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Aggregate
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Registration
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Securities to be Registered
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Offering Price(1)
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Fee(2)(3)
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Common Stock $0.001 par value per share
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97,520,000
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$3,832.54
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(1)
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Estimated solely for the purpose of
computing the amount of the registration fee pursuant to Rule
457(o) under the Securities Act. Includes $12,720,000 of shares
that the underwriters have the option to purchase to cover
over-allotments, if any.
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(2)
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Calculated pursuant to Rule 457(o)
under the Securities Act based on an estimate of the proposed
maximum offering price.
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(3)
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$3,832.54 previously paid.
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The Registrant hereby amends this Registration Statement on
such date or dates as may be necessary to delay its effective
date until the Registrant shall file a further amendment that
specifically states that this Registration Statement shall
thereafter become effective in accordance with Section 8(a)
of the Securities Act of 1933, as amended, or until the
Registration Statement shall become effective on such date as
the Securities and Exchange Commission, acting pursuant to such
Section 8(a), may determine.
EXPLANATORY
NOTE
Fluidigm Corporation has prepared this Amendment No. 11 to
the Registration Statement on
Form S-1
(File No. 333-150227)
for the purpose of refiling Exhibit 4.2 to the Registration
Statement. This Amendment No. 11 does not modify any
provision of the prospectus that forms a part of the
Registration Statement, and accordingly such prospectus has not
been included herein.
PART II
INFORMATION
NOT REQUIRED IN PROSPECTUS
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Item 13.
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Other
Expenses of Issuance and Distribution.
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The following table sets forth all expenses to be paid by the
registrant, other than estimated underwriting discounts and
commissions, in connection with this offering. All amounts shown
are estimates except for the SEC registration fee, the NASD
filing fee and the NASDAQ Global Market listing fee.
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SEC registration fee
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$
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3,833
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NASD filing fee
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9,700
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NASDAQ Global Market listing fee
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105,000
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Printing and engraving
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390,000
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Legal fees and expenses
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1,700,000
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Accounting fees and expenses
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850,000
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Blue sky fees and expenses (including legal fees)
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10,000
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Transfer agent and registrar fees
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2,500
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Miscellaneous
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28,967
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Total
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$
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3,100,000
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Item 14.
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Indemnification
of Directors and Officers.
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Section 145 of the Delaware General Corporation Law
authorizes a corporations board of directors to grant, and
authorizes a court to award, indemnity to officers, directors
and other corporate agents.
As permitted by Section 102(b)(7) of the Delaware General
Corporation Law, the registrants certificate of
incorporation includes provisions that eliminate the personal
liability of its directors and officers for monetary damages for
breach of their fiduciary duty as directors and officers.
In addition, as permitted by Section 145 of the Delaware
General Corporation Law, the bylaws of the registrant provide
that:
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The registrant shall indemnify its directors and officers for
serving the registrant in those capacities or for serving other
business enterprises at the registrants request, to the
fullest extent permitted by Delaware law. Delaware law provides
that a corporation may indemnify such person if such person
acted in good faith and in a manner such person reasonably
believed to be in or not opposed to the best interests of the
registrant and, with respect to any criminal proceeding, had no
reasonable cause to believe such persons conduct was
unlawful.
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The registrant may, in its discretion, indemnify employees and
agents in those circumstances where indemnification is not
required by law.
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The registrant is required to advance expenses, as incurred, to
its directors and officers in connection with defending a
proceeding, except that such director or officer shall undertake
to repay such advances if it is ultimately determined that such
person is not entitled to indemnification.
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The registrant will not be obligated pursuant to the bylaws to
indemnify a person with respect to proceedings initiated by that
person, except with respect to proceedings authorized by the
registrants Board of Directors or brought to enforce a
right to indemnification.
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The rights conferred in the bylaws are not exclusive, and the
registrant is authorized to enter into indemnification
agreements with its directors, officers, employees and agents
and to obtain insurance to indemnify such persons.
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The registrant may not retroactively amend the bylaw provisions
to reduce its indemnification obligations to directors,
officers, employees and agents.
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The registrants policy is to enter into separate
indemnification agreements with each of its directors and
officers that provide the maximum indemnity allowed to directors
and executive officers by Section 145 of the Delaware
General Corporation Law and also provides for certain additional
procedural protections. The registrant also maintains directors
and officers insurance to insure such persons against certain
liabilities.
These indemnification provisions and the indemnification
agreements entered into between the registrant and its officers
and directors may be sufficiently broad to permit
indemnification of the registrants officers and directors
for liabilities (including reimbursement of expenses incurred)
arising under the Securities Act.
The underwriting agreement filed as Exhibit 1.1 to this
registration statement provides for indemnification by the
underwriters of the registrant and its officers and directors
for certain liabilities arising under the Securities Act and
otherwise.
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Item 15.
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Recent
Sales of Unregistered Securities.
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In the three years prior to the filing of this registration
statement, the registrant has issued the following unregistered
securities:
(a) From March 2005 through July 17, 2007, Fluidigm
Corporation, a California corporation, issued and sold an
aggregate of 134,561 shares of its common stock upon the
exercise of options issued to certain employees, directors and
consultants under the registrants 1999 Stock Option Plan,
as amended, at exercise prices ranging from $1.05 to $2.90, for
aggregate consideration of $188,442. From July 18, 2007
through May 22, 2008, the registrant issued and sold
an aggregate of 71,634 shares of its common stock upon the
exercise of options issued to certain employees, directors and
consultants under the registrants 1999 Stock Option Plan,
as amended, at exercise prices ranging from $1.05 to $4.76 per
share, for aggregate consideration of $123,346.
(b) From March 2005 through July 17, 2007, Fluidigm
Corporation, a California corporation, granted to certain of its
employees, directors and consultants under the registrants
1999 Stock Option Plan, as amended, options to purchase an
aggregate of 1,138,869 shares of its common stock at
exercise prices ranging from $1.05 to $4.76 per share. From
July 18, 2007 through May 22, 2008, the registrant
granted to certain of its employees, directors and consultants
under the registrants 1999 Stock Option Plan, as amended,
options to purchase an aggregate of 129,200 shares of the
registrants common stock at exercise prices ranging from
$4.83 to $8.40 per share.
(c) In March and December 2005, Fluidigm Corporation, a
California corporation, pursuant to a loan and security
agreement, issued and sold warrants to purchase
106,122 shares of its Series D Preferred Stock to one
accredited investor at an exercise price of $9.80 per share. In
connection with the registrants reincorporation into the
State of Delaware on July 18, 2007, the warrant was
converted into a warrant to purchase an equal number of shares
of the registrants Series D Preferred Stock.
(d) In November 2005, Fluidigm Corporation, a California
corporation, issued and sold 20,000 shares of its common
stock to one accredited investor at an issuance price of $1.96
per share for aggregate monetary consideration of $39,200, which
amount was deemed paid by the transfer of certain rights granted
to registrant pursuant to the terms of a licensing agreement.
(e) In December 2005, Fluidigm Corporation, a California
corporation, issued 237,895 shares of its Series D
Preferred Stock to one accredited investor in connection with
the conversion of a convertible promissory note at a conversion
price per share of $9.80.
(f) In June 2006, Fluidigm Corporation, a California
corporation, issued to one accredited investor a convertible
promissory notes in an aggregate principal amount of $3,000,000
convertible into shares of its Series D Preferred Stock. In
July 2007, the notes were converted into 330,612 shares of
Series D Preferred Stock at a conversion price per share of
$9.80.
(g) In April 2006, Fluidigm Corporation, a California
corporation, issued an aggregate of 61,223 shares of its
Series D Preferred Stock to UAB Research Foundation
pursuant to the terms of a Master Closing Agreement by and among
UAB Research Foundation, Oculus Pharmaceuticals, Inc. and
Fluidigm Corporation, at an issuance price of $9.80 per share,
for aggregate monetary consideration of $599,998, which
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amount was deemed paid by the transfer of certain rights granted
to registrant pursuant to the terms of such agreement and the
achievement of certain milestones thereunder; at the request of
UAB, 26,530 of such shares were issued to Oculus
Pharmaceuticals, Inc., 10,204 of such shares were issued to
Athersys, Inc. and 24,489 of such shares were issued to UAB
Research Foundation.
(h) In June 2006, Fluidigm Corporation, a California
corporation, issued 76,530 shares of its Series D
Preferred Stock to one accredited investor in connection with
the exercise of a warrant to purchase shares of its
Series D Preferred Stock at an exercise price per share of
$9.80.
(i) From August 2006 through April 2007, Fluidigm
Corporation, a California corporation, issued three convertible
promissory notes to one accredited investor in an aggregate
principal amount of $15,000,000, all of which were convertible
into shares of its Series E Preferred Stock. In March 2007,
two of the notes were converted into an aggregate of
844,095 shares of the Series E Preferred Stock of
Fluidigm Corporation, a California corporation. In connection
with the registrants reincorporation into the State of
Delaware on July 18, 2007, the remaining outstanding
convertible promissory note was made convertible into shares of
the registrants Series E Preferred Stock.
(j) In March 2007, Fluidigm Corporation, a California
corporation, issued 28,571 shares of its common stock to
one accredited investor at an issuance price of $2.90 per share,
for aggregate monetary consideration of $83,000, which amount
was deemed paid by the transfer of certain rights granted to
registrant pursuant to the terms of a licensing agreement.
(k) In May 2007, Fluidigm Corporation, a California
corporation, granted to seven of its employees and directors
under the registrants 1999 Stock Option Plan, as amended,
options to purchase an aggregate of 219,142 shares of its
common stock at an exercise price of $4.76 per share.
(l) In connection with the registrants
reincorporation into the State of Delaware on July 18,
2007, the registrant issued an aggregate of
2,770,285 shares of common stock to a total of 128
stockholders in exchange for the outstanding shares of common
stock Fluidigm Corporation, a California corporation.
(m) In connection with the registrants
reincorporation into the State of Delaware on July 18,
2007, the registrant issued an aggregate of 779,220 shares
of the registrants Series A Preferred Stock to a
total of 41 investors in exchange for the outstanding shares of
Series A Preferred Stock of Fluidigm Corporation, a
California corporation.
(n) In connection with the registrants
reincorporation into the State of Delaware on July 18,
2007, the registrant issued an aggregate of
1,845,907 shares of the registrants Series B
Preferred Stock to a total of 35 investors in exchange for the
outstanding shares of Series B Preferred Stock of Fluidigm
Corporation, a California corporation.
(o) In connection with the registrants
reincorporation into the State of Delaware on July 18,
2007, the registrant issued an aggregate of
4,675,666 shares of the registrants Series C
Preferred Stock to a total of 62 investors in exchange for the
outstanding shares of Series C Preferred Stock of Fluidigm
Corporation, a California corporation.
(p) In connection with the registrants
reincorporation into the State of Delaware on July 18,
2007, the registrant issued an aggregate of
3,484,626 shares of the registrants Series D
Preferred Stock to a total of 52 investors in exchange for the
outstanding shares of Series D Preferred Stock of Fluidigm
Corporation, a California corporation.
(q) In connection with the registrants
reincorporation into the State of Delaware on July 18,
2007, the registrant issued an aggregate of
2,562,810 shares of the registrants Series E
Preferred Stock to a total of 35 investors in exchange for the
outstanding shares of Series E Preferred Stock of Fluidigm
Corporation, a California corporation.
(r) From October 2007 through December 2007, the registrant
issued and sold an aggregate of 2,512,841 shares of
Series E Preferred Stock to a total of seven investors at
$14.00 per share, for aggregate proceeds of $35,179,780.
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(s) In December 2007, the registrant issued
1,714 shares of its common stock to one accredited investor
at an issuance price of $4.76 per share for aggregate monetary
consideration of $8,160, which amount was deemed paid by the
transfer of certain rights granted to registrant pursuant to the
terms of a licensing agreement.
(t) In December 2007, the registrant granted to one of its
directors under the registrants 1999 Stock Option Plan, as
amended, options to purchase an aggregate of 28,571 shares
of the registrants common stock at an exercise price of
$8.40 per share.
(u) In February and June 2008, the registrant issued a
warrant to purchase 28,572 and 57,142 shares of the
registrants Series E Preferred Stock to one
accredited investor at an exercise price of $14.00 per share.
(v) In February 2008, the registrant granted to one of its
executive officers under the registrants 1999 Stock Option
Plan, as amended, options to purchase an aggregate of
171,427 shares of the registrants common stock at an
exercise price of $8.40 per share.
(w) In April 2008, the registrant granted to 110 of its
employees, consultants and directors under the registrants
1999 Stock Option Plan, as amended, options to purchase an
aggregate of 546,711 shares of its common stock at an
exercise price of $11.16 per share.
(x) On May 12, 2008, the registrant issued
4,692 shares of its Series C Preferred Stock to
Imperial Bank pursuant to Imperial Banks net exercise of
its warrant to purchase up to 11,795 shares of
Series C Preferred Stock. The remainder of the warrant was
cancelled pursuant to the terms of the net exercise.
(y) In June 2008, the registrant granted to seven of its
employees and consultants under the registrants 1999 Stock
Option Plan, as amended, options to purchase an aggregate of
24,426 shares of its common stock at an exercise price of
$11.97 per share.
(z) In August 2008, the registrant granted to eight of its
employees under the registrants 1999 Stock Option Plan, as
amended, options to purchase an aggregate of 18,426 shares
of its common stock at an exercise price of $12.71 per share.
None of the foregoing transactions involved any underwriters,
underwriting discounts or commissions, or any public offering,
and the registrant believes that each transaction was exempt
from the registration requirements of the Securities Act in
reliance on the following exemptions:
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with respect to the transactions described in paragraphs
(a) and (b), Rule 701 promulgated under the Securities
Act as transactions pursuant to a compensatory benefit plan
approved by the registrants Board of Directors;
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with respect to the transactions described in paragraphs (1)
through (q), Rule 145(a)(2) promulgated under the
Securities Act as transactions pursuant to a plan or agreement
for statutory merger or similar plan or acquisition in which
securities of the registrant were exchanged for the securities
of Fluidigm Corporation, a California corporation, the sole
purpose of which was to change the registrants domicile
solely within the United States, and a Permit granted pursuant
to Section 25121 of the California Corporations Code; and
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with respect to the transactions described in paragraphs
(c) through (k) and paragraphs (r) through (z),
Section 4(2) of the Securities Act, or Rule 506 of
Regulation D promulgated thereunder, as transactions by an
issuer not involving a public offering. Each recipient of the
securities in this transaction represented his or her intention
to acquire the securities for investment only and not with a
view to, or for resale in connection with, any distribution
thereof, and appropriate legends were affixed to the share
certificates issued in each such transaction. In each case, the
recipient received adequate information about the registrant or
had adequate access, through his or her relationship with the
registrant, to information about the registrant.
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Item 16.
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Exhibits
and Financial Statement Schedules.
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(a) Exhibits. The following exhibits are
included herein or incorporated herein by reference:
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Exhibit Number
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Description
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1
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.1(3)
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Form of Underwriting Agreement.
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3
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.1(3)
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Certificate of Incorporation of the Registrant, as currently in
effect.
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II-4
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Exhibit Number
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Description
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3
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.2(3)
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Form of Restated Certificate of Incorporation of the Registrant,
to be in effect upon the completion of this offering.
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3
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.3(3)
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Bylaws of the Registrant.
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3
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.4(3)
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Form of Amended and Restated Bylaws of the Registrant, to be in
effect upon completion of this offering.
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4
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.1(3)
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Specimen Common Stock Certificate of the Registrant.
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4
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.2(2)
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Series E Preferred Stock Purchase Agreement dated
June 13, 2006 through December 31, 2007 between the
Registrant and the Purchasers set forth therein, as amended.
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4
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.3(3)
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Eighth Amended and Restated Investor Rights Agreement between
the Registrant and certain holders of the Registrants
common stock named therein, including amendments No. 1 and
No. 2.
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4
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.4(2)(3)
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Loan and Security Agreement No. 4561 between the Registrant
and Lighthouse Capital Partners V, L.P. dated
March 29, 2005, including amendments Nos. 1 through 4.
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4
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.4A(3)
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Preferred Stock Purchase Warrant issued to Lighthouse Capital
Partners V, L.P. effective March 29, 2005.
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4
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.4B(3)
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Negative Pledge Agreement by and between the Registrant and
Lighthouse Capital Partners V, L.P. dated March 29,
2005.
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4
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.5(3)
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Convertible Note Purchase Agreement by and between Biomedical
Sciences Investment Fund Pte Ltd and the Registrant dated
August 7, 2006.
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4
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.5A(3)
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Convertible Promissory Note issued to Biomedical Sciences
Investment Fund Pte Ltd dated April 19, 2007, as
amended.
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4
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.6(3)
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Action By Written Consent of the holders of Preferred Stock of
the Registrant effective as of August 25, 2008 consenting
to the Conversion of all Preferred Stock.
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5
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.1(3)
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Opinion of Wilson Sonsini Goodrich & Rosati,
Professional Corporation.
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10
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.1(3)
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Form of Indemnification Agreement between the Registrant and its
directors and officers.
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10
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.2(3)
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1999 Stock Plan of the Registrant, as amended April 24,
2008.
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10
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.2A(3)
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Forms of agreements under the 1999 Stock Plan.
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10
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.3(3)
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2008 Equity Incentive Plan.
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10
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.3A(3)
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Forms of agreements under the 2008 Equity Incentive Plan.
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10
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.4(2)(3)
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Second Amended and Restated License Agreement by and between
California Institute of Technology and the Registrant effective
as of May 1, 2004.
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10
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.4A(2)(3)
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First Addendum, effective as of March 29, 2007, to Second
Amended and Restated License Agreement by and between California
Institute of Technology and the Registrant effective as of
May 1, 2004.
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10
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.5(2)(3)
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Co-Exclusive License Agreement between President and Fellows of
Harvard College and the Registrant effective as of
October 15, 2000.
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10
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.5A(2)(3)
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First Amendment to Co-Exclusive License Agreement between
President and Fellows of Harvard College and the Registrant
effective as of October 15, 2000.
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10
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.6(2)(3)
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Co-Exclusive License Agreement between President and Fellows of
Harvard College and the Registrant effective as of
October 15, 2000.
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10
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.7(2)(3)
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Co-Exclusive License Agreement between President and Fellows of
Harvard College and the Registrant effective as of
October 15, 2000.
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10
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.8(2)(3)
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Patent License Agreement by and between Gyros AB and the
Registrant dated January 9, 2003.
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10
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.8A(2)(3)
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Amendment No. 1 dated January 9, 2005 to Patent
License Agreement by and between Gyros AB and the Registrant
dated January 9, 2003.
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10
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.9(2)(3)
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Master Closing Agreement by and between UAB Research Foundation,
Oculus Pharmaceuticals, Inc. and the Registrant dated
March 7, 2003.
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10
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.9A(2)(3)
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License Agreement by and between UAB Research Foundation and the
Registrant dated March 7, 2003.
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II-5
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Exhibit Number
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Description
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10
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.10(2)(3)
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Amended and Restated Letter Agreement Regarding Application for
Incentives Under the Research Incentive Scheme for Companies
(RISC) dated March 27, 2008 (originally dated
October 7, 2005), by and between Singapore Economic
Development Board and Fluidigm Singapore Pte. Ltd.
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10
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.10A(2)(3)
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Supplement Dated January 11, 2006 to Letter Agreement
Relating to Application for Incentives under the Research
Incentive Scheme for Companies (RISC), dated October 7,
2005 between Singapore Economic Development Board and Fluidigm
Singapore Pte. Ltd.
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10
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.11(2)(3)
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Amended and Restated Letter Agreement Regarding Application for
Incentives Under the Research Incentive Scheme for Companies
(RISC) dated March 27, 2008 (originally dated
February 12, 2007), by and between Singapore Economic
Development Board and Fluidigm Singapore Pte. Ltd.
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10
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.12(2)(3)
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Distribution Agreement by and between Eppendorf AG and the
Registrant effective as of April 1, 2005.
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10
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.12A(3)
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First Amendment, effective as of December 1, 2007, to the
Distribution Agreement by and between Eppendorf AG and the
Registrant effective as of April 1, 2005.
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10
|
.13(3)
|
|
Form of Employment and Severance Agreement between the
Registrant and each of its executive officers.
|
|
10
|
.14(3)
|
|
Consulting Agreement by and between the Registrant and Richard
DeLateur dated February 29, 2008.
|
|
10
|
.15(3)
|
|
Employee Loan Agreement with Gajus Worthington dated
January 20, 2004.
|
|
10
|
.15A(3)
|
|
Stock Repurchase Agreement between the Registrant and Gajus V.
Worthington dated April 10, 2008.
|
|
10
|
.16(3)
|
|
Offer Letter to Vikram Jog dated January 29, 2008.
|
|
10
|
.17(3)
|
|
Settlement Agreement and General Release of all Claims by and
between Michael Ybarra Lucero and the Registrant dated
March 20, 2008.
|
|
10
|
.18(2)(3)
|
|
Letter Agreement between President and Fellows of Harvard
College and the Registrant dated December 22, 2004.
|
|
10
|
.19(3)
|
|
Sublease, dated March 25, 2004, between Genome Therapeutics
Corporation as Sublessor and Fluidigm Corporation as Sublessee
and amendment thereto, and related master lease agreements and
amendments thereto.
|
|
10
|
.20(3)
|
|
Tenancy for Flatted Factory Space in Singapore between JTC
Corporation and the Registrant dated July 27, 2005 and August
12, 2008.
|
|
21
|
.1(3)
|
|
List of subsidiaries of Registrant.
|
|
23
|
.1(3)
|
|
Consent of Independent Registered Public Accounting Firm.
|
|
23
|
.2(3)
|
|
Consent of Wilson Sonsini Goodrich & Rosati,
Professional Corporation (included in Exhibit 5.1).
|
|
24
|
.1(3)
|
|
Power of Attorney.
|
|
|
|
(1)
|
|
To be filed by amendment.
|
(2)
|
|
Confidential treatment has been
requested with respect to certain portions of this exhibit.
Omitted portions have been filed separately with the Securities
and Exchange Commission.
|
(3)
|
|
Previously filed.
|
(b) Financial Statement Schedules.
All schedules have been omitted because the information required
to be presented in them is not applicable or is shown in the
consolidated financial statements or related notes.
Item 17. Undertakings.
The undersigned registrant hereby undertakes to provide to the
underwriters at the closing specified in the underwriting
agreement certificates in such denominations and registered in
such names as required by the underwriters to permit prompt
delivery to each purchaser.
II-6
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors,
officers and controlling persons of the registrant pursuant to
the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the
registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such
issue.
The undersigned registrant hereby undertakes that:
(1) For purposes of determining any liability under the
Securities Act of 1933, the information omitted from the form of
prospectus filed as part of this registration statement in
reliance upon Rule 430A and contained in a form of
prospectus filed by the registrant pursuant to
Rule 424(b)(1) or (4) or 497(h) under the Securities
Act shall be deemed to be part of this registration statement as
of the time it was declared effective.
(2) For the purpose of determining any liability under the
Securities Act of 1933, each post effective amendment that
contains a form of prospectus shall be deemed to be a new
registration statement relating to the securities offered
therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(3) For the purpose of determining liability under the
Securities Act of 1933 to any purchaser, if the registrant is
subject to Rule 430C, each prospectus filed pursuant to
Rule 424(b) as part of a registration statement relating to
an offering, other than registration statements relying on
Rule 430B or other than prospectuses filed in reliance on
Rule 430A, shall be deemed to be part of and included in the
registration statement as of the date it is first used after
effectiveness; provided, however, that no statement made in a
registration statement or prospectus that is part of the
registration statement or made in a document incorporated or
deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will,
as to a purchaser with a time of contract of sale prior to such
first use, supersede or modify any statement that was made in
the registration statement or prospectus that was part of the
registration statement or made in any such document immediately
prior to such date of first use.
(4) For the purpose of determining liability of the
registrant under the Securities Act of 1933 to any purchaser to
the initial distribution of the securities, the undersigned
registrant undertakes that in a primary offering of securities
of the undersigned registrant pursuant to this registration
statement, regardless of the underwriting method used to sell
the securities to the purchaser, if the securities are offered
or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to
the purchasers and will be considered to offer or sell such
securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the
undersigned registrant relating to the offering required to be
filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering
prepared by or on behalf of the undersigned registrant or used
or referred to by the undersigned registrant;
(iii) The portion of any other free writing prospectus
relating to the offering containing material information about
the undersigned registrant or its securities provided by or on
behalf of the undersigned registrant; and
(iv) Any other communication that is an offer in the
offering made by the undersigned registrant to the purchaser.
II-7
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
Registrant has duly caused this Amendment No. 11 to the
registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of South San
Francisco, State of California, on the 22nd day of September
2008.
FLUIDIGM CORPORATION
|
|
|
|
By:
|
/s/ Gajus
V. Worthington
|
Gajus V. Worthington
President and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this
Amendment No. 11 to the registration statement has been signed
by the following persons in the capacities indicated on the 22nd
day of September 2008.
|
|
|
|
|
|
|
Signature
|
|
Title
|
|
Date
|
|
/s/ Gajus
V. Worthington
Gajus
V. Worthington
|
|
President, Chief Executive Officer and Director (Principal
Executive Officer)
|
|
September 22, 2008
|
|
|
|
|
|
/s/ Vikram
Jog
Vikram
Jog
|
|
Chief Financial Officer (Principal Accounting and Financial
Officer)
|
|
September 22, 2008
|
|
|
|
|
|
*
Samuel
Colella
|
|
Director
|
|
September 22, 2008
|
|
|
|
|
|
*
Michael
W. Hunkapiller
|
|
Director
|
|
September 22, 2008
|
|
|
|
|
|
*
Elaine
V. Jones
|
|
Director
|
|
September 22, 2008
|
|
|
|
|
|
*
Kenneth
Nussbacher
|
|
Director
|
|
September 22, 2008
|
|
|
|
|
|
*
John
A. Young
|
|
Director
|
|
September 22, 2008
|
|
|
|
|
|
|
|
*By:
|
|
/s/ Gajus
V. Worthington
Gajus
V. Worthington
Attorney-in-Fact
|
|
|
|
|
II-8
EXHIBIT INDEX
|
|
|
|
|
Exhibit Number
|
|
Description
|
|
|
1
|
.1(3)
|
|
Form of Underwriting Agreement.
|
|
3
|
.1(3)
|
|
Certificate of Incorporation of the Registrant, as currently in
effect.
|
|
3
|
.2(3)
|
|
Form of Restated Certificate of Incorporation of the Registrant,
to be in effect upon the completion of this offering.
|
|
3
|
.3(3)
|
|
Bylaws of the Registrant.
|
|
3
|
.4(3)
|
|
Form of Amended and Restated Bylaws of the Registrant, to be in
effect upon completion of this offering.
|
|
4
|
.1(3)
|
|
Specimen Common Stock Certificate of the Registrant.
|
|
4
|
.2(2)
|
|
Series E Preferred Stock Purchase Agreement dated
June 13, 2006 through December 31, 2007 between the
Registrant and the Purchasers set forth therein, as amended.
|
|
4
|
.3(3)
|
|
Eighth Amended and Restated Investor Rights Agreement between
the Registrant and certain holders of the Registrants
common stock named therein, including amendments No. 1 and
No. 2.
|
|
4
|
.4(2)(3)
|
|
Loan and Security Agreement No. 4561 between the Registrant
and Lighthouse Capital Partners V, L.P. dated
March 29, 2005, including amendments Nos. 1 through 4.
|
|
4
|
.4A(3)
|
|
Preferred Stock Purchase Warrant issued to Lighthouse Capital
Partners V, L.P. effective March 29, 2005.
|
|
4
|
.4B(3)
|
|
Negative Pledge Agreement by and between the Registrant and
Lighthouse Capital Partners V, L.P. dated March 29,
2005.
|
|
4
|
.5(3)
|
|
Convertible Note Purchase Agreement by and between Biomedical
Sciences Investment Fund Pte Ltd and the Registrant dated
August 7, 2006.
|
|
4
|
.5A(3)
|
|
Convertible Promissory Note issued to Biomedical Sciences
Investment Fund Pte Ltd dated April 19, 2007, as
amended.
|
|
4
|
.6(3)
|
|
Action By Written Consent of the holders of Preferred Stock of
the Registrant effective as of August 25, 2008 consenting
to the Conversion of all Preferred Stock.
|
|
5
|
.1(3)
|
|
Opinion of Wilson Sonsini Goodrich & Rosati,
Professional Corporation.
|
|
10
|
.1(3)
|
|
Form of Indemnification Agreement between the Registrant and its
directors and officers.
|
|
10
|
.2(3)
|
|
1999 Stock Plan of the Registrant, as amended April 24,
2008.
|
|
10
|
.2A(3)
|
|
Forms of agreements under the 1999 Stock Plan.
|
|
10
|
.3(3)
|
|
2008 Equity Incentive Plan.
|
|
10
|
.3A(3)
|
|
Forms of agreements under the 2008 Equity Incentive Plan.
|
|
10
|
.4(2)(3)
|
|
Second Amended and Restated License Agreement by and between
California Institute of Technology and the Registrant effective
as of May 1, 2004.
|
|
10
|
.4A(2)(3)
|
|
First Addendum, effective as of March 29, 2007, to Second
Amended and Restated License Agreement by and between California
Institute of Technology and the Registrant effective as of
May 1, 2004.
|
|
10
|
.5(2)(3)
|
|
Co-Exclusive License Agreement between President and Fellows of
Harvard College and the Registrant effective as of
October 15, 2000.
|
|
10
|
.5A(2)(3)
|
|
First Amendment to Co-Exclusive License Agreement between
President and Fellows of Harvard College and the Registrant
effective as of October 15, 2000.
|
|
10
|
.6(2)(3)
|
|
Co-Exclusive License Agreement between President and Fellows of
Harvard College and the Registrant effective as of
October 15, 2000.
|
|
10
|
.7(2)(3)
|
|
Co-Exclusive License Agreement between President and Fellows of
Harvard College and the Registrant effective as of
October 15, 2000.
|
|
10
|
.8(2)(3)
|
|
Patent License Agreement by and between Gyros AB and the
Registrant dated January 9, 2003.
|
|
|
|
|
|
Exhibit Number
|
|
Description
|
|
|
10
|
.8A(2)(3)
|
|
Amendment No. 1 dated January 9, 2005 to Patent
License Agreement by and between Gyros AB and the Registrant
dated January 9, 2003.
|
|
10
|
.9(2)(3)
|
|
Master Closing Agreement by and between UAB Research Foundation,
Oculus Pharmaceuticals, Inc. and the Registrant dated
March 7, 2003.
|
|
10
|
.9A(2)(3)
|
|
License Agreement by and between UAB Research Foundation and the
Registrant dated March 7, 2003.
|
|
10
|
.10(2)(3)
|
|
Amended and Restated Letter Agreement Regarding Application for
Incentives Under the Research Incentive Scheme for Companies
(RISC) dated March 27, 2008 (originally dated
October 7, 2005), by and between Singapore Economic
Development Board and Fluidigm Singapore Pte. Ltd.
|
|
10
|
.10A(2)(3)
|
|
Supplement Dated January 11, 2006 to Letter Agreement
Relating to Application for Incentives under the Research
Incentive Scheme for Companies (RISC), dated October 7,
2005 between Singapore Economic Development Board and Fluidigm
Singapore Pte. Ltd.
|
|
10
|
.11(2)(3)
|
|
Amended and Restated Letter Agreement Regarding Application for
Incentives Under the Research Incentive Scheme for Companies
(RISC) dated March 27, 2008 (originally dated
February 12, 2007), by and between Singapore Economic
Development Board and Fluidigm Singapore Pte. Ltd.
|
|
10
|
.12(2)(3)
|
|
Distribution Agreement by and between Eppendorf AG and the
Registrant effective as of April 1, 2005.
|
|
10
|
.12A(3)
|
|
First Amendment, effective as of December 1, 2007, to the
Distribution Agreement by and between Eppendorf AG and the
Registrant effective as of April 1, 2005.
|
|
10
|
.13(3)
|
|
Form of Employment and Severance Agreement between the
Registrant and each of its executive officers.
|
|
10
|
.14(3)
|
|
Consulting Agreement by and between the Registrant and Richard
DeLateur dated February 29, 2008.
|
|
10
|
.15(3)
|
|
Employee Loan Agreement with Gajus Worthington dated
January 20, 2004.
|
|
10
|
.15A(3)
|
|
Stock Repurchase Agreement between the Registrant and Gajus V.
Worthington dated April 10, 2008.
|
|
10
|
.16(3)
|
|
Offer Letter to Vikram Jog dated January 29, 2008.
|
|
10
|
.17(3)
|
|
Settlement Agreement and General Release of all Claims by and
between Michael Ybarra Lucero and the Registrant dated
March 20, 2008.
|
|
10
|
.18(2)(3)
|
|
Letter Agreement between President and Fellows of Harvard
College and the Registrant dated December 22, 2004.
|
|
10
|
.19(3)
|
|
Sublease, dated March 25, 2004, between Genome Therapeutics
Corporation as Sublessor and Fluidigm Corporation as Sublessee
and amendment thereto, and related master lease agreements and
amendments thereto.
|
|
10
|
.20(3)
|
|
Tenancy for Flatted Factory Space in Singapore between JTC
Corporation and the Registrant dated July 27, 2005 and August
12, 2008.
|
|
21
|
.1(3)
|
|
List of subsidiaries of Registrant.
|
|
23
|
.1(3)
|
|
Consent of Independent Registered Public Accounting Firm.
|
|
23
|
.2(3)
|
|
Consent of Wilson Sonsini Goodrich & Rosati,
Professional Corporation (included in Exhibit 5.1).
|
|
24
|
.1(3)
|
|
Power of Attorney.
|
|
|
|
(1)
|
|
To be filed by amendment.
|
(2)
|
|
Confidential treatment has been
requested with respect to certain portions of this exhibit.
Omitted portions have been filed separately with the Securities
and Exchange Commission.
|
(3)
|
|
Previously filed.
|
exv4w2
[***] Indicates
text has been omitted from this Exhibit pursuant to a confidential treatment
request and has been filed separately with the Securities and Exchange Commission.
Exhibit 4.2
FLUIDIGM CORPORATION
SERIES E PREFERRED STOCK PURCHASE AGREEMENT
First Closing: June 13, 2006
Second Closing: December 22, 2006
Third Closing: March 30, 2007
Fourth Extended Closing: October 10, 2007
Fifth Extended Closing: October 26, 2007
Sixth Extended Closing: December 31, 2007
TABLE OF CONTENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page |
|
1. |
|
Purchase and Sale of Preferred Stock |
|
|
1 |
|
|
|
1.1 |
|
Authorization of the Shares |
|
|
1 |
|
|
|
1.2 |
|
Purchase and Sale of the Shares |
|
|
1 |
|
|
|
1.3 |
|
Closing Date |
|
|
1 |
|
|
|
1.4 |
|
Delivery |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
2. |
|
Representations and Warranties of the Company |
|
|
2 |
|
|
|
2.1 |
|
Organization, Good Standing and Qualification |
|
|
2 |
|
|
|
2.2 |
|
Corporate Power |
|
|
2 |
|
|
|
2.3 |
|
Subsidiaries |
|
|
2 |
|
|
|
2.4 |
|
Capitalization |
|
|
2 |
|
|
|
2.5 |
|
Authorization |
|
|
3 |
|
|
|
2.6 |
|
Valid Issuance of Preferred and Common Stock |
|
|
3 |
|
|
|
2.7 |
|
Governmental Consents |
|
|
4 |
|
|
|
2.8 |
|
Litigation |
|
|
4 |
|
|
|
2.9 |
|
Employees |
|
|
4 |
|
|
|
2.10 |
|
Patents and Other Intangible Assets |
|
|
5 |
|
|
|
2.11 |
|
Compliance with Other Instruments |
|
|
7 |
|
|
|
2.12 |
|
Permits |
|
|
7 |
|
|
|
2.13 |
|
Environmental and Safety Laws |
|
|
7 |
|
|
|
2.14 |
|
Title to Property and Assets |
|
|
7 |
|
|
|
2.15 |
|
Agreements; Action |
|
|
7 |
|
|
|
2.16 |
|
Financial Statements |
|
|
8 |
|
|
|
2.17 |
|
Changes |
|
|
9 |
|
|
|
2.18 |
|
Brokers or Finders |
|
|
9 |
|
|
|
2.19 |
|
Qualified Small Business Stock |
|
|
9 |
|
|
|
2.20 |
|
Employee Benefit Plans |
|
|
10 |
|
|
|
2.21 |
|
Tax Matters |
|
|
10 |
|
|
|
2.22 |
|
Insurance |
|
|
10 |
|
|
|
2.23 |
|
Corporate Documents |
|
|
10 |
|
|
|
2.24 |
|
Disclosure |
|
|
10 |
|
|
|
2.25 |
|
Offering |
|
|
11 |
|
|
|
2.26 |
|
Returns and Complaints |
|
|
11 |
|
|
|
|
|
|
|
|
|
|
3. |
|
Representations and Warranties of the Purchasers |
|
|
11 |
|
|
|
3.1 |
|
Experience |
|
|
11 |
|
|
|
3.2 |
|
Investment |
|
|
11 |
|
|
|
3.3 |
|
Rule 144 |
|
|
11 |
|
|
|
3.4 |
|
Legends |
|
|
12 |
|
|
|
3.5 |
|
No Public Market |
|
|
12 |
|
|
|
3.6 |
|
Access to Data |
|
|
12 |
|
-i-
TABLE OF CONTENTS
(continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page |
|
|
|
3.7 |
|
Authorization |
|
|
12 |
|
|
|
3.8 |
|
Accredited Investor |
|
|
12 |
|
|
|
3.9 |
|
Public Solicitation |
|
|
12 |
|
|
|
3.10 |
|
Tax Advisors |
|
|
12 |
|
|
|
3.11 |
|
Purchaser Counsel |
|
|
12 |
|
|
|
3.12 |
|
Brokers or Finders |
|
|
13 |
|
|
|
3.13 |
|
Non-United States Persons |
|
|
13 |
|
|
|
|
|
|
|
|
|
|
4. |
|
Conditions of Purchasers Obligations at Closing |
|
|
13 |
|
|
|
4.1 |
|
Representations and Warranties |
|
|
13 |
|
|
|
4.2 |
|
Performance |
|
|
13 |
|
|
|
4.3 |
|
Compliance Certificate |
|
|
13 |
|
|
|
4.4 |
|
Blue Sky |
|
|
13 |
|
|
|
4.5 |
|
Opinion of Company Counsel |
|
|
13 |
|
|
|
4.6 |
|
Investor Rights Agreement |
|
|
14 |
|
|
|
4.7 |
|
Restated Articles |
|
|
14 |
|
|
|
4.8 |
|
Corporate Proceedings; Waivers and Consents |
|
|
14 |
|
|
|
|
|
|
|
|
|
|
5. |
|
Conditions of the Companys Obligations at Closing |
|
|
14 |
|
|
|
5.1 |
|
Representations and Warranties |
|
|
14 |
|
|
|
5.2 |
|
Payment of Purchase Price |
|
|
14 |
|
|
|
5.3 |
|
Blue Sky |
|
|
14 |
|
|
|
5.4 |
|
Investor Rights Agreements |
|
|
14 |
|
|
|
5.5 |
|
Restated Articles |
|
|
14 |
|
|
|
5.6 |
|
Proceedings and Documents |
|
|
14 |
|
|
|
|
|
|
|
|
|
|
6. |
|
Miscellaneous |
|
|
14 |
|
|
|
6.1 |
|
Governing Law; Jurisdiction |
|
|
14 |
|
|
|
6.2 |
|
Indemnification |
|
|
15 |
|
|
|
6.3 |
|
Survival |
|
|
15 |
|
|
|
6.4 |
|
Successors and Assigns |
|
|
15 |
|
|
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6.5 |
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Entire Agreement; Amendment |
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15 |
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6.6 |
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Notices, Etc |
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15 |
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6.7 |
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Delays or Omissions |
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16 |
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6.8 |
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California Corporate Securities Law |
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16 |
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6.9 |
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Finders Fee |
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16 |
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6.10 |
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Expenses |
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16 |
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6.11 |
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Waiver of Conflict |
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16 |
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6.12 |
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Severability |
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17 |
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6.13 |
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Counterparts; Facsimile |
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17 |
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6.14 |
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Titles and Subtitles |
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17 |
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-ii-
TABLE OF CONTENTS
(continued)
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Page |
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6.15 |
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Exculpation Among Purchasers |
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17 |
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6.16 |
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Like Treatment of Holders |
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17 |
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6.17 |
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Jury Trial |
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17 |
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EXHIBITS |
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Exhibit A |
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Schedule of Purchasers |
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Exhibit B |
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Form of Amended and Restated Articles of Incorporation |
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Exhibit C |
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Schedule of Exceptions |
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Exhibit D |
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Form of Eighth Amended and Restated Investor Rights Agreement |
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Exhibit E |
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Form of Legal Opinion |
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-iii-
SERIES E PREFERRED STOCK PURCHASE AGREEMENT
THIS SERIES E PREFERRED STOCK PURCHASE AGREEMENT is made as of June 13, 2006, by and among
Fluidigm Corporation, a California corporation (the Company), and the purchasers listed on the
Schedule of Purchasers attached hereto as EXHIBIT A (the Schedule of Purchasers). The
persons or entities listed thereon are hereinafter referred to collectively as the Purchasers and
individually as a Purchaser.
THE PARTIES HEREBY AGREE AS FOLLOWS:
1. Purchase and Sale of Preferred Stock.
1.1 Authorization of the Shares. The Company will on or before the Closing
(as defined below) authorize the sale and issuance pursuant to this Agreement of up
to 5,000,000 shares (the Shares) of its Series E Preferred Stock (the Series E
Preferred), having the rights, preferences and privileges as set forth in the
Amended and Restated Articles of Incorporation attached hereto as EXHIBIT B
(the Restated Articles).
1.2 Purchase and Sale of the Shares. Subject to the terms and conditions
hereof and in reliance upon the representations, warranties and agreements contained
herein, the Company will issue and sell to each Purchaser, severally and not jointly,
and each Purchaser will purchase from the Company, severally and not jointly, at the
Closing, the number of Shares set forth opposite the Purchasers name on the Schedule
of Purchasers, at a purchase price of Four Dollars ($4.00) per Share. The Company
shall be entitled to sell any unpurchased Shares to any Purchaser or to a person who
is not a Purchaser and to amend the Schedule of Purchasers to include the information
relating to such sales, and such purchasers shall be considered Purchasers and
parties to this Agreement; provided that (i) such sales are made pursuant to this
Agreement or an agreement identical to this one except for the Closing Date and
exhibits, and (ii) such sales are completed within 120 days of the Initial Closing
(as defined below). The Companys agreement with each Purchaser is a separate
agreement, and the sale of the Shares to each Purchaser is a separate sale.
1.3 Closing Date. The first closing of the purchase and sale of the Shares
hereunder (the Initial Closing) shall be held at the offices of Wilson Sonsini
Goodrich & Rosati, 650 Page Mill Road, Palo Alto, California 94304 on June 13, 2006
(the Closing Date) or such other date as the Company and a majority-in-interest of
the Purchasers may agree. Subject to Section 1.2 above, subsequent closings under
this Agreement may be held from time to time after the Initial Closing at such time
and place as the Company and the relevant Purchasers agree (Subsequent Closings).
For the purposes of this Agreement, the term Closing and Closing Date unless
otherwise indicated, refers to the closing or date of closing
of the purchase and sale of the Shares with respect to a particular Purchaser or
group of Purchasers, whether such closing occurs at the Initial Closing or at a
Subsequent Closing.
1.4 Delivery. At Closing, the Company shall deliver to each Purchaser a
certificate, in such denomination and registered in Purchasers name as set forth on
the Schedule of Purchasers, representing the number of Shares which Purchaser is
purchasing from the Company
against delivery to the Company of a check or wire
transfer payable to the order of the Company in the amount of the purchase price of
the Shares to be purchased by such Purchaser.
2. Representations and Warranties of the Company. The Company hereby represents
and warrants to Purchaser that, except as set forth in the Schedule of Exceptions attached
hereto as EXHIBIT C (the Schedule of Exceptions), which has been delivered to each
Purchaser prior to Purchasers execution hereof, each of the representations, warranties and
statements contained in this Section 2 is true and correct as of the date of this Agreement and
will be true and correct on and as of the Closing Date. For all purposes of this Agreement,
the statements contained in the Schedule of Exceptions shall also be deemed to be
representations and warranties made and given by Company under this Agreement.
2.1 Organization, Good Standing and Qualification. The Company is a
corporation duly organized, validly existing and in good standing under the laws of
the State of California and has all requisite corporate power and authority to carry
on its business as currently conducted. The Company is duly qualified to transact
business and is in good standing in each jurisdiction in which the failure to so
qualify, individually or in the aggregate, would have a material adverse effect on
its business (as now conducted), properties, or financial condition.
2.2 Corporate Power. The Company will have at the Closing all requisite
legal and corporate power and authority to (i) execute and deliver this Agreement;
(ii) sell and issue the Shares hereunder; (iii) issue the Common Stock issuable upon
conversion of the Shares (the Conversion Shares); and (iv) carry out and perform
its obligations under the terms of this Agreement.
2.3 Subsidiaries. The Company does not presently own or control, directly or
indirectly, any interest in any other corporation, association, or other business
entity.
2.4 Capitalization. The authorized capital stock of the Company consists, or
immediately prior to the Initial Closing will consist, of 77,857,144 shares of Common
Stock (Common Stock), of which 9,274,356 shares are issued and outstanding
immediately prior to the Initial Closing and 51,687,948 shares of Preferred Stock
(Preferred Stock), 2,727,273 of which are designated Series A Preferred Stock of
which 2,727,273 are outstanding immediately prior to the Initial Closing; 6,460,675
of which are designated Series B Preferred Stock of which 6,460,675 are outstanding
immediately prior to the Initial Closing; 17,000,000 of which are designated Series C
Preferred Stock, 16,364,832 of which are issued and outstanding immediately prior to
the Initial Closing; and 15,500,000 of which are designated Series D Preferred Stock,
11,714,048 of which are issued and outstanding immediately prior to the Initial
Closing; and 10,000,000 of which are designated Series E Preferred Stock, none of
which will be outstanding immediately prior to the Initial Closing. All such issued
and outstanding shares have been duly authorized and validly issued in compliance
with applicable laws, and are fully paid and nonassessable.
The Company has reserved: (i) 5,000,000 shares of Series E Preferred for issuance hereunder
and 5,000,000 shares of Common Stock for issuance upon conversion of such shares of Series E
Preferred; (ii) 11,714,048 shares of Common Stock for issuance upon conversion of the outstanding
-2-
shares of Series D Preferred; (iii) 916,335 shares of Series D Preferred for issuance upon exercise
of outstanding warrants and 916,335 shares of Common Stock for issuance upon conversion of such
Series D Preferred; (iv) 16,364,832 shares of Common Stock for issuance upon conversion of the
outstanding shares of Series C Preferred Stock; (v) 294,868 shares of Series C Preferred Stock for
issuance upon exercise of outstanding warrants and 294,868 shares of Common Stock for issuance upon
conversion of such Series C Preferred Stock; (vi) 6,460,675 shares of Common Stock for issuance
upon conversion of the outstanding Series B Preferred Stock; (vii) 2,727,273 shares of Common Stock
for issuance upon conversion of the outstanding Series A Preferred Stock; and (viii) an aggregate
of 10,800,000 shares of Common Stock for issuance to employees and consultants of the Company
pursuant to the Companys 1999 Stock Option Plan, pursuant to which options to purchase 5,597,763
shares are granted and outstanding and 1,554,643 shares are available for future grant. Other than
with respect to the shares reserved for issuance in the preceding sentence, or as set forth in the
Ancillary Agreements (as defined below), there are no outstanding rights, options, warrants,
conversion rights, preemptive rights, rights of first refusal or similar rights for the purchase or
acquisition from the Company of any securities of the Company. There are no outstanding
obligations of the Company to repurchase or redeem any of its securities.
Except as contemplated in the Investor Rights Agreement (as defined below), the Company has
not granted or agreed to grant any registration rights, including piggyback rights, to any person
or entity. Except as contemplated in the Second Amended and Restated Voting Agreement dated as of
August 16, 2005, the Company is not a party or subject to any agreement or understanding, and to
the Companys knowledge, there is no agreement or understanding between any person or entities,
which relates to the voting or the giving of written consents with respect to any security of the
Company or by a director of the Company.
2.5 Authorization. All corporate action on the part of the Company, its
officers, directors and shareholders necessary for the authorization, execution and
delivery of this Agreement, the Eighth Amended and Restated Investor Rights Agreement
in the form attached hereto as EXHIBIT D (the Investor Rights Agreement),
the performance of all obligations of the Company under this Agreement and the
Investor Rights Agreement (other than those registration obligations contained in
Section 1 of the Investor Rights Agreement), and any other agreements to which the
Company is a party, the execution and delivery of which is a contemplated hereby (the
Ancillary
Agreements) and the authorization, issuance (or reservation for issuance), sale and
delivery of the Shares and the Conversion Shares has been taken or will be taken
prior to the Closing. This Agreement and the Investor Rights Agreement constitute
valid and legally binding obligations of the Company, enforceable against the Company
in accordance with their respective terms, subject to: (i) judicial principles
limiting the availability of specific performance, injunctive relief, and other
equitable remedies; (ii) bankruptcy, insolvency, reorganization, moratorium or other
similar laws now or hereafter in effect generally relating to or affecting creditors
rights; and (iii) limitations on the enforceability of the indemnification provisions
of the Investor Rights Agreement.
2.6 Valid Issuance of Preferred and Common Stock. The Shares that are being purchased by the Purchasers hereunder, when issued, sold and
delivered in accordance with the
-3-
terms of this Agreement for the consideration expressed herein,
will be duly and validly issued, fully paid, and nonassessable, and will be free of restrictions on
transfer other than restrictions on transfer under this Agreement and the Investor Rights Agreement
and under applicable state and federal securities laws. The Conversion Shares have been duly and
validly reserved for issuance, and, upon issuance in accordance with the terms of the Restated
Articles, will be duly and validly issued, fully paid, and nonassessable and will be free of
restrictions on transfer other than restrictions on transfer under this Agreement and the Investor
Rights Agreement and under applicable state and federal securities laws. The Conversion Shares may
be issued without any registration or qualification under state and federal securities laws as such
laws are currently in effect.
2.7 Governmental Consents. No consent, approval, order or authorization of,
or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority on the part of the Company is required in
connection with the offer, sale or issuance of the Shares or the Conversion Shares or
the consummation of any other transaction contemplated hereby, except for (a) the
filing of the Restated Articles with the Secretary of State of the State of
California prior to the Closing and (b) filings required pursuant to applicable
federal and state securities laws and blue sky laws, which filings, the Company
covenants to complete within the required statutory period.
2.8 Litigation. There is no action, suit, proceeding or investigation
pending or, to the Companys knowledge, currently threatened against the Company
before any court, administrative agency or other governmental body which questions
the validity of this Agreement or the Investor Rights Agreement or the right of the
Company to enter into any of them, or to consummate the transactions contemplated
hereby or thereby, or which could result, either individually or in the aggregate, in
any material adverse change in the condition (financial or otherwise), business,
property, assets or liabilities of the Company, nor is the Company aware that there
is any basis for the foregoing. The Company is not a party or subject to, and none
of its assets is bound
by, the provisions of any order, writ, injunction, judgment or decree of any court or
government agency or instrumentality. There is no action, suit, proceeding or
investigation by or involving the Company currently pending or that the Company
intends to initiate.
2.9 Employees. Each employee of the Company has executed a proprietary
information and invention assignment agreement substantially in the form or forms
made available to the Purchasers. To the Companys knowledge, no officer or key
employee is in violation of any prior employee contract or proprietary information
agreement. No employees of the Company are represented by any labor union or covered
by any collective bargaining agreement. There is no pending or, to the Companys
knowledge, threatened labor dispute involving the Company and any group of its
employees. The Company is not aware that any officer or key employee intends to
terminate his or her employment with the Company within the six months after Closing.
The Company does not have a present intention to terminate the employment of any
officer or key employee. Each officer and key employee is devoting 100% of his or
her business time to the conduct of the business of the Company. The Company is not
aware that any officer or key employee intends to work less than full time during the
six months after Closing. Subject to general
-4-
principles related to wrongful
termination of employees, the employment of each officer and employee of the Company
is terminable at will.
2.10 Patents and Other Intangible Assets.
(a) The Company owns, or is licensed or otherwise has the legally enforceable right to use,
all copyrights, domain names, maskworks, applications for the issuance or registration of any of
the foregoing, trade secrets, confidential or proprietary know-how, data and information, ideas,
inventions, designs, developments, algorithms, processes, schematics, techniques, computer
programs, applications and other software, works of authorship, creative effort and, to the
Companys knowledge after such investigation as the Company deemed reasonable, patents, patent
applications, trademarks (including service marks and design marks) and applications therefor,
tradenames (all of the foregoing generically, Intellectual Property Rights) utilized in, or
necessary for, its business as now conducted (collectively, the Company Intellectual Property)
without infringing upon the right of any person, corporation or other entity.
(b) Section 2.10 of the Schedule of Exceptions lists (i) all patents and patent applications
and all registered and unregistered trademarks, trade names, copyrights and maskworks and
registered domain names included in the Company Intellectual Property, including the jurisdictions
in which each such intellectual property right has been issued or registered or in which any
application for such issuance or registration has been filed, (ii) all licenses, sublicenses,
collaborations and other agreements (or options for any of the foregoing) to which the Company is a
party and pursuant to which any person, corporation or other entity is authorized to use any of the
Company Intellectual Property, and (iii) all licenses, sublicenses, collaborations and other
agreements (or options for any of the foregoing) to which the Company is a party and pursuant
to which the Company is authorized to use any Intellectual Property Right of any third party (other
than standard licenses for commercially available software). Each of the agreements in (ii) and
(iii) above remain in full force and effect and, to the Companys knowledge, no party to any such
agreement is in material breach or default under such agreement, and the Company is not aware of
any act or failure to act by a party which would constitute a material breach or default under any
such agreement, give rise to a right of the licensor to terminate any such agreement or otherwise
result in termination of, or suspension or loss of exclusive rights under, any such agreement.
(c) To the Companys knowledge, the Company has not infringed or misappropriated any
Intellectual Property Right of any other person, corporation or other entity. The Company has not
received any communication or otherwise received any information alleging any such conduct by the
Company or asserting a claim by any third party to the ownership of, or right to use, any of the
Company Intellectual Property, and the Company does not know of any basis for any such claim. The
Company is not aware of any action, suit, proceeding or investigation pending or currently
threatened against the Company (or any third party owner or licensor of rights to the Company of
any of the Company Intellectual Property) which would have a material impact on the Companys
ownership of or exclusive or co-exclusive rights to use, the Company Intellectual Property.
-5-
(d) The Company is not aware that any of its employees is obligated under any agreement, or
subject to any judgment, decree or order of any court or administrative agency, that would
materially interfere with his or her ability to fully and freely perform their duties to the
Company or that would conflict with the Companys business. To the Companys knowledge, neither
the filing of the Restated Articles nor the execution and delivery of this Agreement or the
Investor Rights Agreement, nor the carrying on of the Companys business by the employees of the
Company, will conflict with or result in a material breach of the terms, conditions, or provisions
of, or constitute a default under, any agreement under which any such employee is now obligated.
The Company does not utilize, and will not be required to utilize, any invention, development or
work of authorship of any of its employees (or persons it currently intends to hire) made prior to
their employment by the Company.
(e) Except as described in Schedule 2.10, (i) the Company is not obligated, or under any
liability whatsoever to make any payments by way of royalties, fees or otherwise, to any owner or
licensor of, or other claimant to, any Company Intellectual Property, and (ii) the Company is not a
party to any agreement concerning the Company Intellectual Property or any other Intellectual
Property Right used or to be used by the Company in its business as conducted. No founder,
director, officer or employee of the Company, or, to the Companys knowledge, no shareholder of the
Company has any interest in the Company Intellectual Property.
(f) Except with respect to any rights granted under the agreements described in Schedule 2.10,
the Company owns exclusively all rights arising from or associated with the research and
development efforts of the Company, its founders, employees and independent contractors relating to
the Companys business as now conducted, and all such rights form part of
the Company Intellectual Property. The Company has secured valid written assignments from all
employees and independent contractors who contributed to the creation or development of any of the
Company Intellectual Property of the rights to such contributions that the Company does not already
own by operation of law. The Company has not received notice of any claim being asserted by any
current or former employee, independent contractor or other third party to the ownership, of or
right to use, any of the Company Intellectual Property, or challenging or questioning the validity
of any of the Company Intellectual Property, and the Company is not aware of any basis for any such
claim.
(g) The Company has taken reasonable steps to protect and preserve the confidentiality of all
material trade secrets included in Company Intellectual Property not otherwise protected by patents
or copyright (Confidential Information). All disclosure of Confidential Information to a third
party has been pursuant to the terms of a written confidentiality or non-disclosure agreement
between the Company and such third party.
(h) The Company hereby represents and warrants that the data, written and oral reports and
other representations and information that the Company provided to its investors (or their counsel)
pertaining to the Company Intellectual Property, when taken as a whole, were truthful and, to the
Companys knowledge, accurate in all material respects, and there was no omission therefrom which
made such information misleading, or incomplete in any material way.
-6-
2.11 Compliance with Other Instruments. The Company is not in violation or default of any provision of its Articles of
Incorporation or Bylaws, each as amended and in effect on and as of the Closing. The Company is
not in violation or default of any material provision of any instrument, mortgage, deed of trust,
loan, contract, commitment, judgment, decree, order or obligation to which it is a party or by
which it or any of its properties or assets are bound or, to the best of its knowledge, of any
provision of any federal, state or local statute, rule or governmental regulation. The execution,
delivery and performance of and compliance with this Agreement and the Investor Rights Agreement,
and the issuance and sale of the Shares, will not result in any such violation, be in conflict with
or constitute, with or without the passage of time or giving of notice, a default under any such
provision, license, indenture, instrument, mortgage, deed of trust, loan, contract, commitment,
judgment, decree, order or obligation; or require any consent or waiver under any such provision,
license, indenture, instrument, mortgage, deed of trust, loan, contract, commitment, judgment,
decree, order or obligation (other than any consents or waivers that have been obtained); or result
in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or
assets of the Company pursuant to any such provision, license, indenture, instrument, mortgage,
deed of trust, loan, contract, commitment, judgment, decree, order or obligation.
2.12 Permits. The Company has all franchises, permits, licenses, and any
similar authority necessary for the conduct of its business as now being conducted by
it. The Company is not in default in any material respect under any of such
franchises, permits, licenses, or other similar authority.
2.13 Environmental and Safety Laws. To its knowledge, the Company is not in violation of any applicable statute, law, or regulation
relating to the environment or occupational health and safety, and to its knowledge, no material
expenditures by the Company are or will be required in order to comply with any such existing
statute, law, or regulation.
2.14 Title to Property and Assets. The Company has good and marketable title
to all of its properties and assets free and clear of all pledges, mortgages, liens
security interests, charges and encumbrances, except liens for current taxes and
assessments not yet due and possible minor liens and encumbrances which do not, in
any case, individually or in the aggregate, materially detract from the value of the
property subject thereto or materially impair the ownership or use of said property
or assets, or the operations of the Company. With respect to the property and assets
it leases, the Company is in compliance with such leases and, to the best of its
knowledge, holds a valid leasehold interest free of all liens, claims or
encumbrances. The Companys properties and assets are in good condition and repair
in all material respects.
2.15 Agreements; Action.
(a) Except for agreements contemplated by this Agreement, there are no agreements,
understandings or proposed transactions between the Company and any of its officers, directors,
affiliates, or any affiliate thereof other than standard option grants and stock purchase
agreements entered into prior to the date of this Agreement.
-7-
(b) There are no agreements, understandings, instruments, contracts, proposed transactions,
judgments, orders, writs or decrees to which the Company is a party or by which it is bound that
may involve (i) obligations (contingent or otherwise) of, or payments by the Company in excess of,
$100,000, other than in the ordinary course of business, (ii) the license of any patent, copyright,
trade secret or other proprietary right to or from the Company other than standard commercial
software licenses, (iii) provisions restricting or adversely affecting the development, manufacture
or distribution of the Companys products or services, or (iv) indemnification by the Company with
respect to infringements of proprietary rights other than indemnifications entered into in the
ordinary course of business.
(c) For the purposes of subsection (b) above, all indebtedness, liabilities, agreements,
understandings, instruments, contracts and proposed transactions involving the same person or
entity (including persons or entities the Company has reason to believe are affiliated therewith)
shall be aggregated for the purpose of meeting the individual minimum dollar amounts of such
subsection.
(d) The Company is not a party to and is not bound by any contract, agreement or instrument,
or subject to any restriction under its Restated Articles or its Bylaws that adversely affects its
business as now conducted, its properties or its financial condition.
(e) The Company is not a guarantor or indemnitor of any indebtedness of any other person or
entity.
(f) The Company has not engaged in the past three months in any discussion (i) with any
representative of any entity or entities regarding the merger of the Company with or into any such
entity or entities or any affiliate thereof, (ii) with any representative of any entity or any
individual regarding the sale, conveyance or disposition of all or substantially all of the assets
of the Company or a transaction or series of related transactions in which more than fifty percent
(50%) of the voting power of the Company would be disposed of, or (iii) regarding any other form of
liquidation, dissolution or winding up of the Company.
2.16 Financial Statements. The Company has made available to each Purchaser
its unaudited balance sheet dated as of December 31, 2005 and the unaudited statement
of operations for the fiscal year then ended, its unaudited balance sheet as of March
31, 2006, and its unaudited statement of operations and cash flow statement covering
the three month period then ended (collectively, the Financial Statements). The
Financial Statements are complete and correct in all material respects and have been
prepared in accordance with generally accepted accounting principles applied on a
consistent basis throughout the periods indicated. The Financial Statements
accurately set out and describe the financial condition and operating results of the
Company as of the date, and during the periods, indicated therein. Except as set
forth in the Financial Statements, the Company has no material liabilities,
contingent or otherwise, other than (i) liabilities incurred in the ordinary course
of business subsequent to March 31, 2006 and (ii) obligations under contracts and
commitments incurred in the ordinary course of business and not required under
generally accepted accounting principles to be reflected in the Financial Statements,
which, in both cases, individually or in the aggregate are not material to the
financial condition or operating results of the Company.
-8-
2.17 Changes. Since March 31 2006:
(a) the Company has not (i) declared or paid any dividends or authorized or made any
distribution upon or with respect to any class or series of its capital stock, (ii) incurred any
indebtedness for money borrowed or any other liabilities outside the ordinary course of its
business individually in excess of $100,000 or, in the case of indebtedness and/or liabilities
individually less than $100,000, in excess of $200,000 in the aggregate, (iii) made any loans or
advances to any person, other than ordinary advances for reimbursable businesses expenses,
(iv) sold, exchanged, assigned, transferred, licensed or otherwise disposed of any of its assets or
rights (including Company Intellectual Property), other than the sale of its inventory in the
ordinary course of business, (v) waived or compromised a valuable right or a material debt owed to
it, (vi) materially changed any compensation arrangement or agreement with any employee, officer,
director or shareholder, or (vii) arranged or committed to do any of the things described in this
subsection (a); and
(b) there has not been (i) a loss of, or a material order cancellation by, any major customer
of the Company, (ii) any damage, destruction or loss, whether or not covered by insurance,
materially and adversely affecting the business, properties, or financial condition of the Company,
(iii) any change in the assets, liabilities, financial condition or operating results of the
Company from that reflected in the Financial Statements, except changes in the ordinary course of
business that have not been, in the aggregate, materially adverse, (iv) any resignation or
termination of any officer or key employee of the Company, and the Company is not aware of the
impending resignation or termination of employment of any such officer, or (v) to the best of the
Companys knowledge, any other event or condition of any character that would materially and
adversely affect the business, properties, or financial condition of the Company.
2.18 Brokers or Finders. The Company has not agreed to incur, directly or
indirectly, any liability for brokerage or finders fees, agents commissions or
other similar charges in connection with this Agreement or any of the transactions
contemplated hereby.
2.19 Qualified Small Business Stock.
(a) As of and immediately following the Closing, the Shares will meet each of the requirements
for qualification as qualified small business stock set forth in Section 1202(c) of the Internal
Revenue Code of 1986, as amended (the Code), including without limitation the following: (i) the
Company will be a domestic C corporation, (ii) the Company will not have made any purchases of its
own stock described in Code Section 1202(c)(3)(B) during the one-year period preceding the Closing,
and (iii) the Companys (and any predecessors) aggregate gross assets, as defined by Code Section
1202(d)(2), at no time from the date of incorporation of the Company and through the Closing have
exceeded or will exceed $50 million, taking into account the assets of any corporations required to
be aggregated with the Company in accordance with Code Section 1202(d)(3).
(b) As of the Closing, at least 80% (by value) of the assets of the Company are used by it in
the active conduct of one or more qualified trades or businesses, as defined by Code
-9-
Section
1202(e)(3), and the Company is an eligible corporation, as defined by Code Section 1202(e)(4).
2.20 Employee Benefit Plans. The Company does not have any Employee Benefit
Plan as defined in the Employee Retirement Income Security Act of 1974 other than the
Companys 401(k) Plan. The Company is in material compliance with the terms of the
Companys 401(k) Plan and has not received notice of any material increase in the
costs of such plans.
2.21 Tax Matters. The Company has filed all tax returns and reports as
required by law. These returns and reports are true and correct in all material
respects. The Company has paid all taxes and other assessments due. The Company has
not elected
pursuant to the Code, to be treated as a Subchapter S corporation or a collapsible
corporation pursuant to Section 1362(a) or Section 341(f) of the Code, nor has it
made any other elections pursuant to the Code (other than elections that relate
solely to methods of accounting, depreciation or amortization) that would have a
material effect on the business, properties or condition (financial or otherwise) of
the Company. None of the Companys tax returns have ever been audited by any
governmental authorities. The Company has withheld or collected from each payment
made to its employees the amount of all taxes (including without limitation, federal
income taxes, Federal Insurance Contribution Act taxes and Federal Unemployment Tax
Act taxes) required to be withheld or collected therefrom, and has paid the same to
the proper tax receiving officers or authorized depositories.
2.22 Insurance. The Company has in full force and effect fire and casualty
insurance policies, with extended coverage, sufficient in amount (subject to
reasonable deductibles) to allow it to replace any of its properties that might be
damaged or destroyed. The Company has obtained term life insurance payable to the
Company on the lives of Stephen Quake and Gajus Worthington in the amount of
$500,000. The Company has in full force and effect directors and officers liability
insurance, covering all of its directors, with aggregate coverage in the amount of
$2,000,000.
2.23 Corporate Documents. The Restated Articles and Bylaws of the Company
are in the form made available to the Purchasers. The copy of the minute books of
the Company made available to the Purchasers counsel contains true and correct
minutes of all meetings of directors (including any committees thereof) and
shareholders and all actions by written consent taken without a meeting by the
directors and shareholders since December 18, 2003.
2.24 Disclosure. The Company has fully provided each Purchaser with all the
information which such Purchaser has requested in connection with the purchase of the
Shares hereunder, as well as all information which the Company in its judgment
believes is reasonably necessary to enable such Purchaser to make a decision as to
whether to invest in the Company. Neither this Agreement with the Exhibits hereto,
nor any other statements, certificates or documents made or delivered in connection
herewith or therewith, contains any untrue statement of a material fact or omits to
state a material fact necessary to make the statements herein or therein not
misleading in light of the circumstances under which they were made. The financial
projections made available to the Purchasers (the Projections) were prepared in
good faith and based upon assumptions that the Company believes are reasonable, and
represent the Companys good faith
-10-
estimate of its future plans and results; provided
however that the Company does not represent or warrant that it will achieve any of
the Projections.
2.25 Offering. Subject in part to the truth and accuracy of each Purchasers representations set forth in
this Agreement, the offer, sale and issuance of the Shares as contemplated by this Agreement is
exempt from the registration requirements of the Securities Act of 1933, as amended (the
Securities Act), and from the registration or qualification requirements of applicable state
securities laws or blue sky laws, and neither the Company nor any authorized agent acting on its
behalf will take any action hereafter that would cause the loss of such exemption.
2.26 Returns and Complaints. The Company has not received customer
complaints concerning alleged defects in the design of its products that, if true,
would have, individually or in the aggregate, a material adverse effect on its
business, properties, or financial condition.
3. Representations and Warranties of the Purchasers. Each Purchaser, individually
and not jointly, hereby represents and warrants as of the Closing Date that:
3.1 Experience. Such Purchaser is experienced in evaluating start-up
companies such as the Company, is able to evaluate and represent its own interests in
transactions such as the one contemplated by this Agreement, has such knowledge and
experience in financial and business matters such that Purchaser is capable of
evaluating the merits and risks of Purchasers prospective investment in the Company,
and has the ability to bear the economic risks of its investment.
3.2 Investment. Such Purchaser is acquiring the Shares, and the Conversion
Shares, for investment for such Purchasers own account and not with the view to, or
for resale in connection with, any distribution thereof. Such Purchaser understands
that the Shares, and the Conversion Shares have not been registered under the
Securities Act by reason of a specific exemption from the registration provisions of
the Securities Act which depends upon, among other things, the bona fide nature of
the investment intent as expressed herein. Such Purchaser further represents that it
does not have any contract, undertaking, agreement or arrangement with any person to
sell, transfer or grant participation to any third person with respect to any of the
Shares, or the Conversion Shares, other than a transfer not involving a change of
beneficial ownership. Such Purchaser understands and acknowledges that the offering
of the Shares pursuant to this Agreement will not be registered under the Securities
Act on the ground that the sale provided for in this Agreement is exempt from the
registration requirements of the Securities Act.
3.3 Rule 144. Such Purchaser acknowledges that the Shares and the Conversion
Shares must be held indefinitely unless subsequently registered under the Securities
Act or an exemption from such registration is available. Such Purchaser is aware of
the provisions of Rule 144 promulgated under the Securities Act which permit limited
resale of shares purchased in a private placement subject to the satisfaction of
certain conditions. Such Purchaser covenants that, in the absence of an effective
registration statement covering the stock in question, such Purchaser will sell,
transfer, or otherwise dispose of the Shares or the Conversion Shares only in a
manner consistent
with applicable securities laws and such Purchasers representations and covenants
set forth in this Section 3. In connection therewith, such Purchaser acknowledges
that the Company
-11-
will make a notation on its stock books regarding the restrictions
on transfers set forth in this Section 3 and will transfer securities on the books of
the Company only to the extent not inconsistent therewith.
3.4 Legends. Purchaser understands and acknowledges that the certificate
evidencing its Shares and the Conversion Shares will be imprinted with legends in the
form set forth in Section 1.3 of the Investor Rights Agreement.
3.5 No Public Market. Such Purchaser understands that no public market now
exists for any of the securities issued by the Company, and that the Company has made
no assurances that a public market will ever exist for the Shares or the Conversion
Shares.
3.6 Access to Data. Such Purchaser has received and reviewed information
about the Company and has had an opportunity to discuss the Companys business,
management and financial affairs with its management and to review the Companys
facilities. The foregoing, however, does not limit or modify the representations and
warranties of the Company in Section 2 of this Agreement or the right of the
Purchasers to rely thereon.
3.7 Authorization. This Agreement when executed and delivered by such
Purchaser will constitute a valid and legally binding obligation of the Purchaser,
enforceable against the Purchaser in accordance with its terms, subject to:
(i) judicial principles respecting election of remedies or limiting the availability
of specific performance, injunctive relief, and other equitable remedies;
(ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or
hereafter in effect generally relating to or affecting creditors rights; and
(iii) limitations on the enforceability of the indemnification provisions of the
Investor Rights Agreement.
3.8 Accredited Investor. Such Purchaser acknowledges that it is an
accredited investor as defined in Rule 501 of Regulation D as promulgated by the
Securities and Exchange Commission under the Securities Act and shall submit to the
Company such further assurances of such status as may be reasonably requested by the
Company. The principal address of such Purchaser is as set forth on the Schedule of
Purchasers.
3.9 Public Solicitation. Purchaser knows of no public solicitation or
advertisement of an offer in connection with the proposed issuance and sale of the
Shares.
3.10 Tax Advisors. Purchaser has reviewed with Purchasers own tax advisors
the federal, state and local tax consequences of this investment, where applicable,
and the transactions contemplated by this Agreement. Each Purchaser is relying
solely on
such advisors and not on any statements or representations of the Company or any of
its agents and understands that each Purchaser (and not the Company) shall be
responsible for the Purchasers own tax liability that may arise as a result of this
investment or the transactions contemplated by this Agreement.
3.11 Purchaser Counsel. Purchaser acknowledges that it has had the
opportunity to review this Agreement, the exhibits and the schedules attached hereto
and the transactions contemplated by this Agreement with Purchasers own legal
counsel. Each Purchaser is relying
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solely on such counsel and not on any statements
or representations of the Company or any of its agents for legal advice with respect
to this investment or the transactions contemplated by this Agreement.
3.12 Brokers or Finders. The Company has not incurred and will not incur,
directly or indirectly, as a result of any action taken by such Purchaser, any
liability for brokerage or finders fees or agents commissions or any similar
changes in connection with this Agreement.
3.13 Non-United States Persons. If Purchaser is not a United States person, such Purchaser hereby represents that such
Purchaser is satisfied as to the full observance of the laws of such Purchasers jurisdiction in
connection with any invitation to subscribe for the Shares and the Conversion Shares or any use of
this Agreement, the Investor Rights Agreement and the Voting Agreement, including (i) the legal
requirements within such Purchasers jurisdiction for the purchase of Shares and the Conversion
Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental
or other consents that may need to be obtained and (iv) the income tax and other tax consequences,
if any, that may be relevant to the purchase, holding, redemption, sale or transfer of such
securities. Such Purchasers subscription and payment for, and such Purchasers continued
beneficial ownership of, the Shares and the Conversion Shares will not violate any applicable
securities or other laws of such Purchasers jurisdiction.
4. Conditions of Purchasers Obligations at Closing. The obligations of each
Purchaser under this Agreement are subject to the fulfillment on or before the Closing of each
of the following conditions, the waiver of which shall not be effective against any Purchaser
who does not consent in writing thereto:
4.1 Representations and Warranties. The representations and warranties of
the Company contained in Section 2 shall be true on and as of the Closing with the
same effect as though such representations and warranties had been made on and as of
the date of the Closing.
4.2 Performance. The Company shall have performed and complied with all
agreements, obligations and conditions contained in this Agreement that are required
to be performed or complied with by it on or before the Closing.
4.3 Compliance Certificate. The President of the Company shall deliver to
each Purchaser at the Closing a certificate stating that the conditions specified in
Sections 4.1 and 4.2 have been fulfilled and stating that as of the Closing there
shall have been no adverse change in the business, affairs, operations, properties,
assets or condition of the Company.
4.4 Blue Sky. The Company shall have obtained all necessary permits and
qualifications, if any, or secured an exemption therefrom, required by any state or
country prior to the offer and sale of the Shares.
4.5 Opinion of Company Counsel. Each Purchaser in the Initial Closing shall
have received from Wilson Sonsini Goodrich & Rosati, Professional Corporation,
counsel for the Company, an opinion, dated as of the Initial Closing, in the form
attached hereto as EXHIBIT E.
-13-
4.6 Investor Rights Agreement. The Company and each Purchaser shall have
entered into the Investor Rights Agreement.
4.7 Restated Articles. The Restated Articles shall have been accepted for
filing by the California Secretary of State and shall be in full force and effect as
of the Closing Date.
4.8 Corporate Proceedings; Waivers and Consents. All corporate and other
proceedings to be taken and all waivers, consents and permits necessary or
appropriate for the consummation of the transactions contemplated by this Agreement
will have been taken or obtained.
5. Conditions of the Companys Obligations at Closing. The obligations of the
Company to each Purchaser under this Agreement are subject to the fulfillment on or before the
Closing of each of the following conditions by that Purchaser:
5.1 Representations and Warranties. The representations and warranties of
the Purchasers contained in Section 3 shall be true on and as of the Closing with the
same effect as though such representations and warranties had been made on and as of
the Closing.
5.2 Payment of Purchase Price. Each Purchaser shall have delivered the
purchase price against delivery of the Shares as set forth in Section 1.4 by the
Company to such Purchaser.
5.3 Blue Sky. The Company shall have obtained all necessary permits and
qualifications, if any, or secured an exemption therefrom, required by any state or
country for the offer and sale of the Shares.
5.4 Investor Rights Agreements. The Company and each Purchaser shall have
entered into the Investor Rights Agreement.
5.5 Restated Articles . The Restated Articles shall have been accepted for
filing by the California Secretary of State and shall be in full force and effect as
of the Closing Date.
5.6 Proceedings and Documents. All corporate and other proceedings in
connection with the transactions contemplated at the Closing hereby, and all
documents and instruments incident to these transactions, shall be reasonably
satisfactory in substance to the Company and its counsel.
6. Miscellaneous.
6.1 Governing Law; Jurisdiction. This Agreement and all acts and
transactions pursuant hereto and the rights and obligations of the parties hereto
shall be governed in all respects by the laws of the State of California, without
regard to any provisions thereof relating to conflicts of laws among different
jurisdictions. The parties hereto agree to submit to the exclusive jurisdiction of
the federal and state courts of San Mateo County, California with respect to the
breach or interpretation of this Agreement or the enforcement of any and all rights,
duties, liabilities, obligations, powers, and other relations between the parties
arising under this Agreement.
-14-
6.2 Indemnification. The Company shall indemnify, defend and hold each
Purchaser harmless against all liability, loss or damage (collectively, Losses and
individually, a Loss) arising from any litigation, proceeding or dispute arising
from such Purchasers status as a shareholder of the Company other than Losses
arising from such Purchasers gross negligence or willful misconduct, provided that
such indemnification shall apply only to litigation, proceedings or disputes arising
prior to the Companys Initial Public Offering (as defined in the Investor Rights
Agreement) and the Companys obligation to indemnify any Purchaser shall be limited
in amount to the amount paid by such Purchaser for the purchase of such Purchasers
Shares as set forth on EXHIBIT A. The foregoing indemnity is not intended to
supercede or replace the indemnification obligations of the parties set forth in
Section 1.10 of the Investor Rights Agreement nor shall it be construed to limit any
other rights and remedies of the Purchasers under this Agreement or any other
indemnification to which such Purchaser may be entitled under any other agreement of
the Company. The foregoing indemnification rights are transferable only to
Affiliates (as defined in the Investor Rights Agreement) of a Purchaser.
6.3 Survival. The representations, warranties, covenants and agreements made
herein shall survive any investigation made by any Purchaser or the Company and the
Closing of the transactions contemplated hereby; provided, however, that such
representations and warranties are only made as of the date of such execution and
delivery and as of such Closing.
6.4 Successors and Assigns. Except as otherwise provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors,
assigns, heirs, executors and administrators of the parties hereto; provided,
however, that the rights of a Purchaser to purchase Shares at the Closing shall not
be assignable without the consent of the Company.
6.5 Entire Agreement; Amendment. This Agreement and the other documents
delivered pursuant hereto constitute the full and entire understanding and agreement
among the parties with regard to the subjects hereof and thereof relating to the
purchase of the Shares. Neither this Agreement nor any term hereof may be amended,
waived, discharged or terminated other than by a written instrument signed by the
Company and the holder or holders of greater than fifty percent (50%) of the
then-outstanding Shares or the Conversion Shares. Notwithstanding the foregoing, any
additional purchaser pursuant to Section 1.2 may become a party to this Agreement by
executing and delivering an additional counterpart signature page to this Agreement
and such purchaser shall be deemed a Purchaser hereunder. The parties agree that the
Schedule of Purchasers attached hereto as Exhibit A shall be updated
automatically without any formal amendment to reflect the addition of any such
additional Purchaser. Any amendment or waiver effected in accordance with this
Section 6.5 shall be binding upon the Purchasers and each transferee of the Shares
(or the Common Stock issuable upon conversion thereof), each future holder of all
such securities, and the Company.
6.6 Notices, Etc. All notices and other communications required or permitted
hereunder, shall be in writing and shall be personally delivered, sent by facsimile,
mailed by registered or certified mail, postage prepaid, return receipt requested, or
delivered by a nationally recognized overnight courier, addressed (a) if to a
Purchaser, at such Purchasers address or
-15-
facsimile number set forth on the Schedule
of Purchasers, or at such other address or facsimile number as such Purchaser shall
have furnished to the Company in writing, or (b) if to the Company, at its address or
facsimile number set forth on the signature page to this Agreement addressed to the
attention of the Corporate Secretary, or at such other address or facsimile number as
the Company shall have furnished to the Purchasers. Any such notice or communication
shall be deemed to have been received (A) in the case of personal delivery or
delivery by telecopier, on the date of such delivery, (B) in the case of a commercial
overnight courier, on the next business day after the date when sent and (C) in the
case of mailing, on the fifth business day following that on which the piece of mail
containing such communication is posted.
6.7 Delays or Omissions. No delay or omission to exercise any right, power
or remedy accruing to any holder of any Shares upon any breach or default of the
Company under this Agreement shall impair any such right, power or remedy of such
holder, nor shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent
or approval of any kind or character on the part of any holder of any breach or
default under this Agreement, or any waiver on the part of any holder of any
provisions or conditions of this Agreement, must be in writing and shall be effective
only to the extent specifically set forth in such writing or as provided in this
Agreement. All remedies, either under this Agreement or by law or otherwise afforded
to any holder, shall be cumulative and not alternative.
6.8 California Corporate Securities Law. THE SALE OF THE SECURITIES WHICH
ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF
CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE
PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH
QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM THE
QUALIFICATION BY SECTION 25100, 25102, OR 25105 OF THE CALIFORNIA CORPORATIONS CODE.
THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH
QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.
6.9 Finders Fee. The Company and each Purchaser shall each indemnify and
hold the other harmless from any liability for any commission or compensation in the
nature of a finders fee (including the costs, expenses and legal fees of defending
against such liability) for which the Company or the Purchasers, or any of their
respective partners, employees, or representatives, as the case may be, is
responsible.
6.10 Expenses. The Company and each Purchaser shall bear its own expenses
and legal fees incurred on its behalf with respect to this Agreement and the
transactions contemplated hereby.
6.11 Waiver of Conflict. Each of the Purchasers and the Company acknowledges
that Wilson Sonsini Goodrich & Rosati, Professional Corporation (WSGR) may have
represented and may currently represent Purchasers. In the course of such
representation, WSGR may have
-16-
come into possession of confidential information
relating to such Purchasers. Each of the Purchasers and the Company acknowledges
that WSGR is representing only the Company in this transaction. Pursuant to Rule
3-310 of the Rules of Professional Conduct promulgated by the State Bar of
California, an attorney must avoid representations in which the attorney has or had a
relationship with another party interested in the representation without the informed
written consent of all parties affected. By executing this Agreement, each of the
Purchasers
and the Company hereby waives any actual or potential conflict of interest that may
arise in this financing as a result of WSGRs representation of such persons or
entities, WSGRs possession of such confidential information and the participation by
WSGRs affiliate in the financing. Each of the Purchasers and the Company represents
that it has had the opportunity to consult with independent counsel concerning the
giving of this waiver.
6.12 Severability. In the event that any provision of this Agreement becomes
or is declared by a court of competent jurisdiction to be illegal, unenforceable or
void, this Agreement shall continue in full force and effect without said provision;
provided that no such severability shall be effective if it materially changes the
economic benefit of this Agreement to any party.
6.13 Counterparts; Facsimile. This Agreement may be executed in any number
of counterparts, each of which may be executed by less than all Purchasers, each of
which shall be enforceable against the parties actually executing such counterparts,
and all of which together shall constitute one instrument. This Agreement may be
executed by facsimile signature.
6.14 Titles and Subtitles. The titles and subtitles used in this Agreement
are used for convenience only and are not to be considered in construing or
interpreting this Agreement.
6.15 Exculpation Among Purchasers. Each Purchaser acknowledges that it is
not relying upon any person, firm or corporation (including without limitation any
other Purchaser), other than the Company and its officers and directors (acting in
their capacity as representatives of the Company), in deciding to invest and in
making its investment in the Company. Each Purchaser agrees that no other Purchaser
nor the respective controlling persons, officers, directors, partners, agents or
employees of any other Purchaser shall be liable to such Purchaser for any losses
incurred by such Purchaser in connection with its investment in the Company.
6.16 Like Treatment of Holders. The Company shall not directly or indirectly
pay or cause to be paid any consideration, whether by way of interest, fee, payment
for the redemption or exchange of Preferred Stock, or otherwise to any holder of
Preferred Stock for or as inducement to, any consent, waiver or amendment of any term
or provision of the Preferred Stock, this Agreement or the Investor Rights Agreement
unless equivalent consideration is offered on equivalent terms and conditions to all
Purchasers of Preferred Stock under this Agreement bound by such consent, waiver or
amendment.
6.17 Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING (WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.
-17-
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written.
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FLUIDIGM CORPORATION
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By: |
/s/ Gajus Worthington
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Gajus Worthington |
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President and Chief Executive Officer
7100 Shoreline Court
South San Francisco, CA 94080
FAX: (650) 871-7195 |
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[FLUIDIGM CORPORATION SERIES E PREFERRED STOCK PURCHASE AGREEMENT]
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PURCHASER: |
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AllianceBernstein L.P. |
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By:
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/s/ Adam Spilka |
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Name:
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Adam Spilka |
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Title:
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SVP, Counsel, Secretary |
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[FLUIDIGM CORPORATION SERIES E PREFERRED STOCK PURCHASE AGREEMENT]
EXHIBIT A
SCHEDULE OF PURCHASERS
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Name and Address |
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Shares of Series E |
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Purchase Price |
AllianceBernstein L.P. |
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1,250,000 |
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$ |
5,000,000.00 |
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TOTALS |
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1,250,000 |
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$ |
5,000,000.00 |
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FLUIDIGM CORPORATION
AMENDMENT NO. 1 TO
SERIES E PREFERRED STOCK PURCHASE AGREEMENT
This Amendment No. 1 (the Amendment) to that certain Series E Preferred Stock Purchase
Agreement, dated as of June 13, 2006 (the Purchase Agreement), is made and entered into effective
as of December 22, 2006 (the Effective Date) by and among Fluidigm Corporation, a California
corporation (the Company), and the Purchasers named therein. Capitalized terms used in this
Amendment that are not otherwise defined herein shall have the respective meanings assigned to them
in the Purchase Agreement.
RECITALS
WHEREAS, the Company previously sold and issued an aggregate of 1,250,000 shares of Series E
Preferred Stock of the Company (the Series E Preferred) pursuant to the terms of the Purchase
Agreement at the Initial Closing held on June 13, 2006;
WHEREAS, the Company and the Purchaser now desire to amend the terms of the Purchase Agreement
to provide that the Company may sell and issue additional shares of Series E Preferred pursuant to
the Purchase Agreement, at one or more additional Subsequent Closings, provided that any such
additional Subsequent Closings shall take place no later than March 31, 2007.
WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the terms of the Purchase
Agreement may be amended upon the written consent of the Company and the holder or holders of
greater than fifty percent (50%) of the outstanding Shares or the Conversion Shares; and
WHEREAS, the Purchaser who has signed below holds greater than fifty percent (50%) of the
outstanding Shares purchased under the Purchase Agreement as of the Effective Date and consents to
the changes as set forth in this Amendment.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
mutually agree as follows:
AGREEMENT
1. Amendment to Section 1.1. Section 1.1 (Authorization of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:
1.1 Authorization of the Shares. The Company will on or
before the Closing (as defined below) authorize the sale and issuance
pursuant to this Agreement of up to 6,318,333 shares (the Shares) of its
- 1 -
Series E Preferred Stock (the Series E Preferred), having the rights,
preferences and privileges as set forth in the Amended and Restated Articles
of Incorporation attached hereto as EXHIBIT B (the Restated
Articles).
2. Amendment to Section 1.2. Section 1.2 (Purchase and Sale of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:
1.2 Purchase and Sale of the Shares. Subject to the terms and
conditions hereof and in reliance upon the representations, warranties and
agreements contained herein, the Company will issue and sell to each
Purchaser, severally and not jointly, and each Purchaser will purchase from
the Company, severally and not jointly, at the Closing, the number of Shares
set forth opposite the Purchasers name on the Schedule of Purchasers, at a
purchase price of Four Dollars ($4.00) per Share. The Company shall be
entitled to sell any unpurchased Shares to any Purchaser or to a person who
is not a Purchaser and to amend the Schedule of Purchasers to include the
information relating to such sales, and such purchasers shall be considered
Purchasers and parties to this Agreement; provided that (i) such sales are
made pursuant to this Agreement or an agreement identical to this one except
for the Closing Date and exhibits, and (ii) such sales are completed on or
prior to March 31, 2007. The Companys agreement with each Purchaser is a
separate agreement, and the sale of the Shares to each Purchaser is a
separate sale.
3. Governing Law. This Amendment shall be governed in all respects by the laws of the
State of California, without regard to any provisions thereof relating to conflicts of laws among
different jurisdictions.
4. Purchase Agreement. Wherever necessary, all other terms of the Purchase Agreement
are hereby amended to be consistent with the terms of this Amendment. Except as specifically set
forth herein, the Purchase Agreement shall remain in full force and effect.
5. Counterparts; Facsimile. This Amendment may be executed in any number of
counterparts, each of which shall be an original, and all of which together shall constitute one
instrument. Executed signatures transmitted via facsimile will be accepted and considered duly
executed.
6. Effect of Execution of Amendment by Certain Purchaser. This Amendment, when
executed and delivered by the Company and a Purchaser purchasing shares of Series E Preferred at a
Subsequent Closing held on or after the date hereof, shall also constitute and shall be deemed a
counterpart signature page to the Purchase Agreement. Consequently, each undersigned Purchaser
purchasing shares of Series E Preferred at a Subsequent Closing held on or after the date hereof
acknowledges and agrees that he, she or it is bound by the terms and
- 2 -
conditions contained in the Purchase Agreement, as amended by this Amendment, with respect to
the purchase of such shares.
[Remainder of page intentionally left blank]
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IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
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COMPANY: |
FLUIDIGM CORPORATION
a California corporation
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By: |
/s/ Gajus Worthington
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Gajus Worthington, |
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President and Chief Executive Officer |
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[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
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Cross Creek Capital, L.P. |
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By:
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Cross Creek Capital GP, L.P. |
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Its Sole General Partner |
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By:
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Cross Creek Capital, LLC |
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Its Sole General Partner |
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By:
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Wasatch Advisors, Inc.
Its Sole Member |
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By:
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/s/ Karey Barker
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Name:
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Karey Barker |
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Title:
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Vice President |
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Cross Creek Capital Employees Fund, L.P. |
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By:
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Cross Creek Capital GP, L.P. |
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Its Sole General Partner |
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By:
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Cross Creek Capital, LLC |
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Its Sole General Partner |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Karey Barker
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Name:
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Karey Barker |
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Title:
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Vice President |
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[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
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WASATCH FUNDS, INC.
Wasatch Small Cap Growth Fund |
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By:
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Wasatch Advisors, Inc. |
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Its:
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Investment Adviser |
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By:
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/s/ Dan Thurber
Name: Dan Thurber
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Title: Vice President |
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[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
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SMALLCAP World Fund, Inc. |
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By:
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Capital Research and Management Company, |
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its, investment adviser |
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By:
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/s/ Michael Downer
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Name:
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Michael Downer |
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Title: |
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|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
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AllianceBernstein Venture Fund I, L.P. |
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By:
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AllianceBernstein ESG Venture Management, L.P.,
its general partner |
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By:
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AllianceBernstein Global Derivatives Corporation,
its general partner |
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By:
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/s/ James D. Kiggen
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Name:
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James D. Kiggen |
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Title:
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Senior Vice President |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
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Versant
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Affiliates Fund 1-A, L.P. |
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Versant
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Affiliates Fund 1-B, L.P. |
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Versant
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Side Fund I, L.P. |
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Versant
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Venture Capital I, L.P. |
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By:
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Versant Ventures I, LLC |
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its General Partner |
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By:
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/s/ Samuel D. Colella
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Name:
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Samuel D. Colella |
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Title:
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Managing Director |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
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Lehman Brothers Healthcare Venture Capital L.P. |
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By:
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Lehman Brothers HealthCare Venture Capital Associates L.P., |
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its General Partner |
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By:
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LB I Group Inc., its General Partner |
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By:
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/s/ Michael Odrich
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Name:
|
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Michael Odrich |
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Its:
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Senior Vice President |
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Lehman Brothers P.A. LLC |
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By:
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/s/ Michael Odrich
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Name:
|
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Michael Odrich |
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Its:
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Senior Vice President |
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Lehman Brothers Partnership Account
2000/2001, L.P. |
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By:
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LB I Group Inc., its General Partner |
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By:
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/s/ Michael Odrich
|
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Name:
|
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Michael Odrich |
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Its:
|
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Senior Vice President |
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Lehman Brothers Offshore Partnership Account 2000/2001, L.P. |
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By:
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LB I Offshore Partners Group Ltd., its General Partner |
|
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By:
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/s/ Michael Odrich
|
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|
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Name:
|
|
Michael Odrich |
|
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|
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Its:
|
|
Senior Vice President |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
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EuclidSR Partners, L.P. |
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By:
|
|
EuclidSR Associates, L.P. |
|
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|
its General Partner |
|
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By:
|
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/s/ Elaine V. Jones
|
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Name:
|
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Elaine V. Jones |
|
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|
Title:
|
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General Partner |
|
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EuclidSR Biotechnology Partners, L.P. |
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By:
|
|
EuclidSR Biotechnology Associates, L.P. |
|
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|
its General Partner |
|
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|
By:
|
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/s/ Elaine V. Jones
|
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|
Name:
|
|
Elaine V. Jones |
|
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|
|
|
Title:
|
|
General Partner |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
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|
|
Iinterwest Partners VII, L.P. |
|
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By:
|
|
InterWest Management Partners VII, LLC |
|
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|
|
its General Partner |
|
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By:
|
|
/s/ Michael Sweeney
|
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|
Name:
|
|
Michael Sweeney |
|
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|
|
Title:
|
|
As agent for the general partner |
|
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|
Interwest Investors VII, L.P. |
|
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|
By:
|
|
InterWest Management Partners VII, LLC |
|
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|
|
its General Partner |
|
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|
|
By:
|
|
/s/ Michael Sweeney
|
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|
|
Name:
|
|
Michael Sweeney |
|
|
|
|
|
|
|
|
|
|
|
Title:
|
|
As agent for the general partner |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
|
|
|
|
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|
|
Lilly Bioventures, Eli Lilly & Company |
|
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|
|
By:
|
|
/s/ Thomas W. Grein
|
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|
|
Name:
|
|
Thomas W. Grein |
|
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|
|
|
|
|
|
|
|
|
Title:
|
|
Vice President and Treasurer |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
|
|
|
|
|
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|
|
Alloy Ventures 2005, L.P. |
|
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|
|
By:
|
|
Alloy Ventures 2005, LLC |
|
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|
|
|
|
its General Partner |
|
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|
|
|
|
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|
|
By:
|
|
/s/ Tony DiBona
|
|
|
|
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|
|
Name:
|
|
Toni DiBona |
|
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|
|
|
|
|
|
|
|
|
Title:
|
|
Managing Member of Alloy Ventures
2005 LLC |
|
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|
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|
|
Alloy Ventures 2002, L.P. |
|
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|
|
Alloy Partners 2002, L.P. |
|
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|
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|
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|
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|
|
By:
|
|
Alloy Ventures 2002, LLC |
|
|
|
|
|
|
its General Partner |
|
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|
|
|
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|
|
By:
|
|
/s/ Tony DiBona
|
|
|
|
|
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|
|
Name:
|
|
Tony DiBona |
|
|
|
|
|
|
|
|
|
|
|
Title:
|
|
Managing Member of Alloy
Ventures
2002, LLC, the general partner of Alloy
Partners 2002, L.P. and Alloy Ventures
2002, L.P. |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
|
|
|
|
|
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|
|
SightLine Healthcare Fund III, L.P. |
|
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|
|
|
|
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|
|
By:
|
|
/s/ Kenneth E. Higgins
|
|
|
|
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|
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|
|
|
Name:
|
|
Kenneth E. Higgins |
|
|
|
|
|
|
|
|
|
|
|
Title:
|
|
Managing Director of Sightline
Partners
LLC, general partner of its general partner |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASER:
|
|
|
|
|
|
|
|
|
/s/ Bruce Burrows
|
|
|
Bruce Burrows |
|
|
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
|
|
/s/ John M. Harland
|
|
|
John M. Harland |
|
|
|
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
|
|
Ferguson/Egan Family Trust dated 6/28/99 |
|
|
|
|
|
|
|
|
|
|
|
By:
Name:
|
|
/s/ Rodney A. Ferguson
Rodney A. Ferguson
|
|
|
|
|
Title:
|
|
Trustee |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
|
|
Health Care Administration Company |
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Gary L. Bowers
|
|
|
|
|
Name:
|
|
Gary L. Bowers |
|
|
|
|
Title:
|
|
President |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
|
|
The Condon Family Trust |
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Thomas J. Condon
|
|
|
|
|
Name:
|
|
Thomas J. Condon |
|
|
|
|
Title:
|
|
Trustee |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
|
|
In-Q-Tel, Inc. |
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Scott G. Yancey
|
|
|
|
|
Name:
|
|
Scott G. Yancey |
|
|
|
|
Title:
|
|
Executive Vice President |
|
|
|
|
|
|
|
|
|
|
|
In-Q-Tel Employee Fund, LLC |
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Scott G. Yancey |
|
|
|
|
|
|
|
|
|
|
|
Name:
|
|
Scott G. Yancey |
|
|
|
|
Title:
|
|
EVP of In-Q-Tel, Inc., the manager of the
fund |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
|
|
The V Foundation for Cancer Research |
|
|
|
|
|
|
|
|
|
|
|
By:
Name:
|
|
/s/ Nicholas Valvano
Nicholas Valvano
|
|
|
|
|
Title:
|
|
Chief Executive Officer |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
/s/ Fredrick H. Stern
Fredrick H. Stern
|
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
/s/ Alfred J. Mandel
Alfred J. Mandel
|
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
/s/ Pauline E. van Ysendoorn
Pauline E. van Ysendoorn
|
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
/s/ Rhett E. Brown
|
|
|
|
|
Rhett E. Brown |
|
|
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to
Series E Preferred Stock Purchase Agreement as of the 30th day of March, 2007.
PURCHASER:
|
|
|
|
|
|
|
SMALLCAP World Fund, Inc. |
|
|
|
|
|
|
|
By:
|
|
Capital Research and Management Company,
its investment adviser |
|
|
|
|
|
|
|
By:
|
|
/s/ Timothy D. Amour |
|
|
|
|
|
|
|
Name:
|
|
Timothy D. Armour |
|
|
Title:
|
|
President |
[Signature Page to Amendment No. 1 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
EXHIBIT A
SCHEDULE OF PURCHASERS
SERIES E PREFERED STOCK FINANCING
DECEMBER 22, 2006
|
|
|
|
|
|
|
|
|
|
|
Shares of Series E |
|
|
Name |
|
Preferred Stock |
|
Purchase Price |
CLIPPERBAY & CO.
SMALLCAP World Fund, Inc. |
|
|
1,875,000 |
|
|
$ |
7,500,000.00 |
|
PACO c/o 80-16-200-1037662
Cross Creek Capital, L.P. |
|
|
569,074 |
|
|
$ |
2,276,296.00 |
|
PACO c/o 80-16-200-1037670 |
|
|
55,926 |
|
|
$ |
223,704.00 |
|
CLEARMOON & CO. |
|
|
625,000 |
|
|
$ |
2,500,000.00 |
|
ALLIANCEBERNSTEIN VENTURE FUND I, L.P. |
|
|
62,500 |
|
|
$ |
250,000.00 |
|
ALLOY VENTURES 2005, L.P. |
|
|
80,625 |
|
|
$ |
322,500.00 |
|
ALLOY VENTURES 2002, L.P. |
|
|
78,505 |
|
|
$ |
314,020.00 |
|
ALLOY PARTNERS 2002, L.P. |
|
|
2,120 |
|
|
$ |
8,480.00 |
|
INTERWEST INVESTORS VII, L.P. |
|
|
2,285 |
|
|
$ |
9,140.00 |
|
INTERWEST PARTNERS VII, L.P. |
|
|
47,715 |
|
|
$ |
190,860.00 |
|
EUCLIDSR BIOTECHNOLOGY PARTNERS, L.P. |
|
|
105,875 |
|
|
$ |
423,500.00 |
|
EUCLIDSR PARTNERS, L.P. |
|
|
105,875 |
|
|
$ |
423,500.00 |
|
VERSANT AFFLIATES FUND 1-A, L.P. |
|
|
5,000 |
|
|
$ |
20,000.00 |
|
VERSANT AFFLIATES FUND 1-B, L.P. |
|
|
10,500 |
|
|
$ |
42,000.00 |
|
EXHIBIT A
SCHEDULE OF PURCHASERS
SERIES E PREFERED STOCK FINANCING
DECEMBER 22, 2006
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|
|
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Shares of Series E |
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|
Name |
|
Preferred Stock |
|
Purchase Price |
VERSANT SIDE FUND I, L.P. |
|
|
4,500 |
|
|
$ |
18,000.00 |
|
VERSANT VENTURE CAPITAL I, L.P. |
|
|
230,000 |
|
|
$ |
920,000.00 |
|
LILLY BIO VENTURES, ELI LILLY AND COMPANY |
|
|
89,750 |
|
|
$ |
359,000.00 |
|
SIGHTLINE HEALTHCARE FUND III, L.P. |
|
|
30,000 |
|
|
$ |
120,000.00 |
|
BRUCE BURROWS |
|
|
144,750 |
|
|
$ |
579,000.00 |
|
LEHMAN BROTHERS HEALTHCARE VENTURE CAPITAL, L.P. |
|
|
39,937 |
|
|
$ |
159,748.00 |
|
LEHMAN BROTHERS OFFSHORE PARTNERSHIP ACCOUNT 2000/2001, L.P. |
|
|
8,932 |
|
|
$ |
35,728.00 |
|
LEHMAN BROTHERS P.A., LLC |
|
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76,440 |
|
|
$ |
305,760.00 |
|
LEHMAN BROTHERS PARTNERSHIP ACCOUNT 2000/2001, L.P. |
|
|
34,440 |
|
|
$ |
137,760.00 |
|
TOTALS |
|
|
4,284,749 |
|
|
$ |
17,138,996.00 |
|
EXHIBIT A
SCHEDULE OF PURCHASERS
SERIES E PREFERED STOCK FINANCING
MARCH 30, 2007
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Shares of Series E |
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|
Name |
|
Preferred Stock |
|
Purchase Price |
JOHN M. HARLAND |
|
|
5,000 |
|
|
$ |
20,000.00 |
|
FERGUSON/EGAN FAMILY TRUST DATED 6/28/99 |
|
|
15,000 |
|
|
$ |
60,000.00 |
|
HEALTH CARE ADMINISTRATION COMPANY |
|
|
25,000 |
|
|
$ |
100,000.00 |
|
THE CONDON FAMILY TRUST |
|
|
12,500 |
|
|
$ |
50,000.00 |
|
IN-Q-TEL, INC. |
|
|
10,125 |
|
|
$ |
40,500.00 |
|
IN-Q-TEL EMPLOYEE FUND, LLC |
|
|
3,375 |
|
|
$ |
13,500.00 |
|
THE V FOUNDATION FOR CANCER RESEARCH |
|
|
6,250 |
|
|
$ |
25,000.00 |
|
FREDRICK H. STERN |
|
|
37,500 |
|
|
$ |
150,000.00 |
|
ALFRED J. MANDEL |
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|
1,000 |
|
|
$ |
4,000.00 |
|
PAULINE E. van YSENDOORN |
|
|
2,500 |
|
|
$ |
10,000.00 |
|
RHETT E. BROWN |
|
|
12,500 |
|
|
$ |
50,000.00 |
|
CLIPPERBAY & CO. |
|
|
350,000 |
|
|
$ |
1,400,000.00 |
|
TOTALS |
|
|
480,750 |
|
|
$ |
1,923,000.00 |
|
FLUIDIGM CORPORATION
AMENDMENT NO. 2 TO
SERIES E PREFERRED STOCK PURCHASE AGREEMENT
This Amendment No. 2 (the Amendment) to that certain Series E Preferred Stock Purchase
Agreement, dated as of June 13, 2006, as amended December 22, 2006, by and among Fluidigm
Corporation, a California corporation (Fluidigm California) and the Purchasers named therein (the
Purchase Agreement), is made and entered into effective as of October 10, 2007 (the Effective
Date) by and among Fluidigm Corporation, a Delaware corporation (the Company), and the
Purchasers named herein. Capitalized terms used in this Amendment that are not otherwise defined
herein shall have the respective meanings assigned to them in the Purchase Agreement.
RECITALS
WHEREAS, Fluidigm California previously sold and issued an aggregate of 1,250,000 shares of
Series E Preferred Stock (the Series E Preferred) pursuant to the terms of the Purchase Agreement
at the Initial Closing held on June 13, 2006 and an additional 6,015,499 shares of Series E
Preferred at Subsequent Closings held on December 22, 2006 and March 30, 2007;
WHEREAS, on July 18, 2007, Fluidigm California was merged with and into the Company, with the
Company being the surviving corporation such that the Company succeeded to all of Fluidigm
Californias rights and obligations under the Purchase Agreement and all outstanding shares of
Series E Preferred of Fluidigm California were exchanged on a one for one basis for shares of
Series E Preferred of the Company;
WHEREAS, the Company and the Purchasers now desire to amend the terms of the Purchase
Agreement to provide that the Company may sell and issue up to 7,375,000 additional shares of
Series E Preferred (the Additional Shares) pursuant to the Purchase Agreement, at one or more
additional Subsequent Closings, provided that any such additional Subsequent Closings shall take
place no later than December 31, 2007.
WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the terms of the Purchase
Agreement may be amended upon the written consent of the Company and the holder or holders of
greater than fifty percent (50%) of the outstanding Shares or the Conversion Shares;
WHEREAS, the Purchasers who have signed below hold greater than fifty percent (50%) of the
outstanding Shares purchased under the Purchase Agreement as of the Effective Date and consent to
the changes as set forth in this Amendment;
WHEREAS, in connection with the execution of this Amendment, the Company is amending the
Amended and Restated Certificate of Incorporation of the Company to increase the
number of
authorized shares of capital stock of the Company to facilitate the sale of the Additional Shares.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
mutually agree as follows:
AGREEMENT
1. Amendment to Section 1.1. Section 1.1 (Authorization of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:
1.1 Authorization of the Shares. The Company will on or
before the Closing (as defined below) authorize the sale and issuance
pursuant to this Agreement of up to 17,956,252 shares (the Shares) of its
Series E Preferred Stock (the Series E Preferred), having the rights,
preferences and privileges as set forth in the Amended and Restated
Certificate of Incorporation, as amended by Amendment No. 1 to Amended and
Restated Certificate of Incorporation and Amendment No. 2 to Amended and
Restated Certificate of Incorporation, as attached hereto as EXHIBITS
B-1 AND B-2, respectively (together for purposes of this
Agreement, the Restated Certificate).
2. Amendment to Section 1.2. Section 1.2 (Purchase and Sale of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:
1.2 Purchase and Sale of the Shares. Subject to the terms and
conditions hereof and in reliance upon the representations, warranties and
agreements contained herein, the Company will issue and sell to each
Purchaser, severally and not jointly, and each Purchaser will purchase from
the Company, severally and not jointly, at the applicable Closing, the
number of Shares set forth opposite the Purchasers name on the Schedule of
Purchasers, at a purchase price of Four Dollars ($4.00) per Share. The
Company shall be entitled to sell any unpurchased Shares to any Purchaser or
to a person who is not a Purchaser and to amend the Schedule of Purchasers
to include the information relating to such sales, and such purchasers shall
be considered Purchasers and parties to this Agreement; provided that (i)
such sales are made pursuant to this Agreement or an agreement identical to
this one except for the Closing Date and exhibits, and (ii) such sales are
completed on or prior to December 31, 2007. The Companys agreement with
each Purchaser is a separate agreement, and the sale of the Shares to each
Purchaser is a separate sale.
-2-
3. Amendment to Section 2. Section 2 (Representations and Warranties of the Company)
of the Purchase Agreement is hereby amended to add the following sentence to the end of the
paragraph which reads in its entirety as follows:
At each Subsequent Closing, the Company shall provide an updated
Schedule of Exceptions and EXHIBIT C shall be concurrently amended
and restated for purposes of such Subsequent Closing.
4. Amendment to Section 2.4. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.4 (Capitalization) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:
The authorized capital stock of the Company consists, or immediately
prior to the Closing will consist, of 85,232,144 shares of Common Stock
(Common Stock), of which 9,760,848 shares are issued and outstanding
immediately prior to the Closing and 57,961,085 shares of Preferred Stock
(Preferred Stock), 2,727,273 of which are designated Series A Preferred
Stock of which 2,727,273 are outstanding immediately prior to the Closing;
6,460,675 of which are designated Series B Preferred Stock of which
6,460,675 are outstanding immediately prior to the Closing; 16,854,624 of
which are designated Series C Preferred Stock, 16,364,832 of which are
issued and outstanding immediately prior to the Closing; and 13,962,261 of
which are designated Series D Preferred Stock, 13,353,333 of which are
issued and outstanding immediately prior to the Closing; and 17,956,252 of
which are designated Series E Preferred Stock, 8,969,836 of which are issued
and outstanding immediately prior to the Closing. All such issued and
outstanding shares have been duly authorized and validly issued in
compliance with applicable laws, and are fully paid and nonassessable.
The Company has reserved: (i) 17,956,252 shares of Series E Preferred
for issuance hereunder and 17,956,252 shares of Common Stock for issuance
upon conversion of such shares of Series E Preferred; (ii) 13,353,333
shares of Common Stock for issuance upon conversion of the outstanding
shares of Series D Preferred; (iii) 408,928 shares of Series D Preferred for
issuance upon exercise of outstanding warrants and 408,928 shares of Common
Stock for issuance upon conversion of such Series D Preferred; (iv)
16,364,832 shares of Common Stock for issuance upon conversion of the
outstanding shares of Series C Preferred Stock; (v) 289,792shares of Series
C Preferred Stock for issuance upon exercise of outstanding warrants and
289,792 shares of Common Stock for issuance upon conversion of such Series C
Preferred Stock; (vi) 6,460,675 shares of Common Stock for issuance upon
conversion of the outstanding Series B Preferred Stock; (vii) 2,727,273
shares of Common Stock for issuance upon conversion of the outstanding
Series A Preferred Stock; and (viii) an aggregate of 12,800,000 shares of
Common Stock for issuance to
-3-
employees and consultants of the Company
pursuant to the Companys 1999 Stock Option Plan, pursuant to which options
to purchase 7,247,691 shares are granted and outstanding and 1,518,223
shares are available for future grant. As of the date hereof and after
giving effect to the purchase of Shares hereunder, each share of each series
of the Companys Preferred Stock is convertible into one share of the
Companys Common Stock. Other than with respect to the shares reserved for
issuance in this paragraph, or as set forth in the Ancillary Agreements (as
defined below), there are no outstanding rights, options, warrants,
conversion rights, preemptive rights, rights of first refusal or similar
rights for the purchase or acquisition from the Company of any securities of
the Company. There are no outstanding obligations of the Company to
repurchase or redeem any of its securities.
5. Amendment to Section 2.16. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.16 (Financial Statements) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:
The Company has made available to each Purchaser its audited balance
sheet dated as of December 31, 2004. The Company has also made available to
each Purchaser unaudited balance sheets dated December 31, 2005 and December
31, 2006 and the unaudited statements of operations for the fiscal years
then ended (collectively, the Financial Statements). The Financial
Statements are complete and correct in all material respects and have been
prepared in accordance with generally accepted accounting principles applied
on a consistent basis throughout the periods indicated. The Financial
Statements accurately set out and describe the financial condition and
operating results of the Company as of the date, and during the periods,
indicated therein. Except as set forth in the Financial Statements, the
Company has no material liabilities, contingent or otherwise, other than (i)
liabilities incurred in the ordinary course of business subsequent to
December 31, 2006 and (ii) obligations under contracts and commitments
incurred in the ordinary course of business and not required under generally
accepted accounting principles to be reflected in the Financial Statements,
which, in both cases, individually or in the aggregate are not material to
the financial condition or operating results of the Company.
6. Deletion of Sections 6.9 and 6.11. Solely in connection with the sale of
Additional Shares pursuant to this Amendment, the Purchase Agreement is hereby amended to delete
Section 6.9 (Finders Fee) and Section 6.11 (Waiver of Conflict), each in its entirety.
-4-
7. Amendment to Section 6.10. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 6.10 of the Purchase Agreement is hereby amended and restated
in its entirety to read as follows:
6.10 Expenses. The Company and each Purchaser shall bear its
own expenses and legal fees incurred on its behalf with respect to this
Agreement and the transactions contemplated hereby, provided, however, that
if a Closing is effected, the Company shall reimburse the reasonable
documented fees of one counsel for the Purchasers, such amount not to exceed
$25,000, by wire transfer at such Closing.
8. Addition of Section 6.17. The Purchase Agreement is hereby amended to add the
following Section 6.17 which reads in its entirety as follows:
6.17 Reincorporation. Each Purchaser hereunder acknowledges
that the Company completed a reincorporation into the State of Delaware on
July 18, 2007 and each Purchaser hereby consents to the assignment of this
Agreement to Fluidigm Corporation, a Delaware corporation effective as of
July 18, 2007.
9. Restated Certificate. All references in the Purchase Agreement to the term
Restated Articles are hereby deleted and replaced with the term Restated Certificate.
10. Governing Law. This Amendment shall be governed in all respects by the laws of
the State of California, without regard to any provisions thereof relating to conflicts of laws
among different jurisdictions.
11. Purchase Agreement. Wherever necessary, all other terms of the Purchase Agreement
are hereby amended to be consistent with the terms of this Amendment. Except as specifically set
forth herein, the Purchase Agreement shall remain in full force and effect.
12. Counterparts; Facsimile. This Amendment may be executed in any number of
counterparts, each of which shall be an original, and all of which together shall constitute one
instrument. Executed signatures transmitted via facsimile will be accepted and considered duly
executed.
13. Effect of Execution of Amendment by Certain Purchasers. This Amendment, when
executed and delivered by the Company and a Purchaser purchasing shares of Series E Preferred at a
Subsequent Closing held on or after the date hereof, shall also constitute and shall be deemed a
counterpart signature page to the Purchase Agreement. Consequently, each undersigned Purchaser
purchasing shares of Series E Preferred at a Subsequent Closing held on or after the date hereof
acknowledges and agrees that he, she or it is bound by the terms and conditions contained in the
Purchase Agreement, as amended by this Amendment, with respect to the purchase of such shares.
[Remainder of page intentionally left blank]
-5-
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2
to Series E Preferred Stock Purchase Agreement as of the Effective Date.
COMPANY:
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FLUIDIGM CORPORATION
a Delaware corporation
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By: |
/s/ Gajus Worthington
|
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Gajus Worthington, |
|
|
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President and Chief Executive Officer |
|
|
[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Fidelity Contrafund: |
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|
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Fidelity Advisor New Insights Fund |
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By:
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/s/ Gary Ryan
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Name:
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Gary Ryan |
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Title:
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Assistant Treasurer |
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Fidelity Contrafund: Fidelity Contrafund |
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By:
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/s/ Gary Ryan |
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Name:
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Gary Ryan |
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Title:
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Assistant Treasurer |
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Variable Insurance Products Fund II: |
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Contrafund Portfolio |
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By:
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/s/ Gary Ryan |
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Name:
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Gary Ryan |
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Title:
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Assistant Treasurer |
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|
[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Leerink Swann Holdings, LLC |
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By:
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/s/ Jeffrey A. Leerink
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Name:
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Jeffrey A. Leerink |
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Title:
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Chief Executive Officer |
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Leerink Swann Holdings, LLC |
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Co-Investment Fund, LLC |
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By:
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/s/ Donald D. Notman, Jr. |
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Name:
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Donald D. Notman, Jr. |
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Title:
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Managing Director |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
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PURCHASERS: |
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Cross Creek Capital, L.P. |
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By:
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Cross Creek Capital GP, L.P. |
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Its Sole General Partner |
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By:
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Cross Creek Capital, LLC |
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Its Sole General Partner |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Karey Barker
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Name:
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Karey Barker |
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Title:
|
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Vice President |
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Cross Creek Capital Employees Fund, L.P. |
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By:
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Cross Creek Capital GP, L.P. |
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Its Sole General Partner |
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By:
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Cross Creek Capital, LLC |
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Its Sole General Partner |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Karey Barker
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Name:
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Karey Barker |
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Title:
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Vice President |
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|
[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Wasatch Funds, Inc. |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Dan Thurber
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Name:
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Dan Thurber |
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Title:
|
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Vice President |
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|
[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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SMALLCAP World Fund, Inc. |
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By:
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Capital Research and Management Company, |
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its, investment adviser |
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By:
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/s/ Michael Downer
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Name:
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Michael Downer |
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Title: |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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AllianceBernstein Venture Fund I, L.P. |
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By:
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AllianceBernstein ESG Venture
Management, L.P., its general partner |
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By:
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AllianceBernstein Global
Derivatives
Corporation, its general partner |
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By:
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/s/ James D. Kiggen
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Name:
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James D. Kiggen |
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Title:
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Senior Vice President |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Versant Affiliates Fund 1-A, L.P. |
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Versant Affiliates Fund1-B, L.P. |
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Versant Side Fund I, L.P. |
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Versant Venture Capital I, L.P. |
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By:
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Versant Ventures I, LLC |
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its General Partner |
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By:
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/s/ Samuel D. Colella
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Name:
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Samuel D. Colella |
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Title:
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Managing Director |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Lehman
Brothers Healthcare Venture Capital L.P. |
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By:
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Lehman Brothers HealthCare Venture Capital |
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Associates L.P., |
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its General Partner |
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By:
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LB I Group Inc., its General Partner |
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By:
Name:
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/s/ Steven Berkenfeld
Steven Berkenfeld
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Its:
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Senior Vice President |
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Lehman Brothers P.A. LLC |
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By:
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/s/ Steven Berkenfeld |
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Name:
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Steven Berkenfeld |
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Its:
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Senior Vice President |
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Lehman Brothers Partnership Account 2000/2001,
L.P. |
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By:
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LB I Group Inc., its General Partner |
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By:
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/s/ Steven Berkenfeld |
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Name:
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Steven Berkenfeld |
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Its:
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Senior Vice President |
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Lehman
Brothers Offshore Partnership Account 2000/2001, L.P. |
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By:
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LB I Offshore Partners Group Ltd., its General |
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Partner |
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By:
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/s/ Steven Berkenfeld |
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Name:
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Steven Berkenfeld |
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Its:
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Senior Vice President |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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EuclidSR Partners, L.P. |
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By:
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EuclidSR Associates, L.P. |
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its General Partner |
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By:
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/s/ Elaine V. Jones
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Name:
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Elaine V. Jones |
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Title:
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General Partner |
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EuclidSR Biotechnology Partners, L.P. |
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By:
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EuclidSR Biotechnology Associates, L.P. |
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its General Partner |
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By:
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/s/ Elaine V. Jones |
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Name:
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Elaine V. Jones |
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Title:
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General Partner |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Interwest Partners VII, L.P. |
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By:
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InterWest Management Partners VII,
LLC |
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its General Partner |
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By:
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/s/ Michael Sweeney
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Name:
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Michael Sweeney |
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Title:
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As agent for the general partner |
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Interwest Investors VII, L.P. |
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By:
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InterWest Management Partners VII,
LLC |
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its General Partner |
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By:
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/s/ Michael Sweeney |
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Name:
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Michael Sweeney |
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Title:
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As agent for the general partner |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Lilly Bioventures, Eli Lilly & Company |
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By:
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/s/ Darren J. Carroll
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Name:
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Darren J. Carroll |
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Title:
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Executive Director |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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/s/ Bruce Burrows
Bruce Burrows
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Biomedical Sciences Investment Fund Pte Ltd |
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By:
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/s/ Chu Swee Yeok
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Name:
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Chu Swee Yeok |
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Title:
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Director |
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Singapore Bio-Innovations Pte Ltd |
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By:
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/s/ Sim Sze Kuan |
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Name:
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Sim Sze Kuan |
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Title:
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Director |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 2 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Invus, L.P. |
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By:
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Invus Advisors LLC |
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General Partner of Invus LP |
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By:
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/s/ Aflalo Guimaraes
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Name:
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Aflalo Guimaraes |
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Title:
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Managing Director |
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[Signature Page to Amendment No. 2 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
EXHIBIT A
SCHEDULE OF PURCHASERS
SERIES E PREFERED STOCK FINANCING
OCTOBER 10, 2007
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Shares of Series E |
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Name |
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Preferred Stock |
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Purchase Price |
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FIDELITY CONTRAFUND: |
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FIDELITY ADVISOR NEW INSIGHTS FUND |
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481,170 |
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$ |
1,924,679.00 |
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FIDELITY CONTRAFUND: FIDELITY CONTRAFUND |
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4,389,865 |
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$ |
17,559,461.00 |
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VARIABLE INSURANCE PRODUCTS FUND II: |
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CONTRAFUND PORTFOLIO |
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1,378,965 |
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$ |
5,515,860.00 |
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LEERICK SWANN HOLDINGS, LLC |
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62,500 |
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$ |
250,000.00 |
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LEERICK SWANN CO-INVESTMENT FUND, LLC |
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78,750 |
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$ |
315,000.00 |
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TOTALS |
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6,391,250 |
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$ |
25,565,000.00 |
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FLUIDIGM CORPORATION
AMENDMENT NO. 3 TO
SERIES E PREFERRED STOCK PURCHASE AGREEMENT
This Amendment No. 3 (the Amendment) to that certain Series E Preferred Stock Purchase
Agreement, dated as of June 13, 2006, as amended December 22, 2006 and further amended October 10,
2007, by and among Fluidigm Corporation, a California corporation (Fluidigm California) and the
Purchasers named therein (the Purchase Agreement), is made and entered into effective as of
October 26, 2007 (the Effective Date) by and among Fluidigm Corporation, a Delaware corporation
(the Company), and the Purchasers named herein. Capitalized terms used in this Amendment that
are not otherwise defined herein shall have the respective meanings assigned to them in the
Purchase Agreement.
RECITALS
WHEREAS, Fluidigm California previously sold and issued an aggregate of 1,250,000 shares of
Series E Preferred Stock (the Series E Preferred) pursuant to the terms of the Purchase Agreement
at the Initial Closing held on June 13, 2006, an additional 4,284,749 shares of Series E Preferred
at a Subsequent Closing held on December 22, 2006, an additional 480,750 shares of Series E
Preferred at a Subsequent Closing held on March 30, 2007, and an additional 6,391,250 shares of
Series E Preferred at a Subsequent Closing held on October 10, 2007;
WHEREAS, on July 18, 2007, Fluidigm California was merged with and into the Company, with the
Company being the surviving corporation such that the Company succeeded to all of Fluidigm
Californias rights and obligations under the Purchase Agreement and all outstanding shares of
Series E Preferred of Fluidigm California were exchanged on a one for one basis for shares of
Series E Preferred of the Company;
WHEREAS, the Company and the Purchasers now desire to amend the terms of the Purchase
Agreement to provide that the Company may sell and issue up to 2,153,695 additional shares of
Series E Preferred (the Additional Shares) pursuant to the Purchase Agreement, at one or more
additional Subsequent Closings, provided that any such additional Subsequent Closings shall take
place no later than December 31, 2007.
WHEREAS, pursuant to Section 6.5 of the Purchase Agreement, the terms of the Purchase
Agreement may be amended upon the written consent of the Company and the holder or holders of
greater than fifty percent (50%) of the outstanding Shares or the Conversion Shares;
WHEREAS, the Purchasers who have signed below hold greater than fifty percent (50%) of the
outstanding Shares purchased under the Purchase Agreement as of the Effective Date and consent to
the changes as set forth in this Amendment;
WHEREAS, in connection with the execution of this Amendment, the Company is amending the
Amended and Restated Certificate of Incorporation of the Company to increase the number of
authorized shares of capital stock of the Company to facilitate the sale of the Additional Shares.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
mutually agree as follows:
AGREEMENT
1. Amendment to Section 1.1. Section 1.1 (Authorization of the Shares) of the
Purchase Agreement is hereby amended and restated in its entirety as follows:
1.1 Authorization of the Shares. The Company will on or
before the Closing (as defined below) authorize the sale and issuance
pursuant to this Agreement of up to 18,498,531 shares (the Shares) of its
Series E Preferred Stock (the Series E Preferred), having the rights,
preferences and privileges as set forth in the Amended and Restated
Certificate of Incorporation, as amended by a Certificate of Amendment to
Amended and Restated Certificate of Incorporation dated October 10, 2007 and
a Certificate of Amendment to Amended and Restated Certificate of
Incorporation dated October 26, 2007, as attached hereto as EXHIBITS
B-1 AND B-2, respectively (together for purposes of this
Agreement, the Restated Certificate).
2. Amendment to Section 2.4. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.4 (Capitalization) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:
The authorized capital stock of the Company consists, or immediately
prior to the Closing will consist, of 87,385,839 shares of Common Stock
(Common Stock), of which 9,760,848 shares are issued and outstanding
immediately prior to the Closing and 60,114,780 shares of Preferred Stock
(Preferred Stock), 2,727,273 of which are designated Series A Preferred
Stock of which 2,727,273 are outstanding immediately prior to the Closing;
6,460,675 of which are designated Series B Preferred Stock of which
6,460,675 are outstanding immediately prior to the Closing; 16,854,624 of
which are designated Series C Preferred Stock, 16,364,832 of which are
issued and outstanding immediately prior to the Closing; and 13,962,261 of
which are designated Series D Preferred Stock, 13,353,333 of which are
issued and outstanding immediately prior to the Closing; and 20,109,947 of
which are designated Series E Preferred Stock, 15,361,086 of which are
issued and outstanding immediately prior to the Closing. All such issued
and outstanding shares have been duly
- 2 -
authorized and validly issued in compliance with applicable laws, and
are fully paid and nonassessable.
The Company has reserved: (i) 18,498,531 shares of Series E Preferred
for issuance hereunder and 20,109,947 shares of Common Stock for issuance
upon conversion of all shares of Series E Preferred; (ii) 13,353,333 shares
of Common Stock for issuance upon conversion of the outstanding shares of
Series D Preferred; (iii) 408,928 shares of Series D Preferred for issuance
upon exercise of outstanding warrants and 408,928 shares of Common Stock for
issuance upon conversion of such Series D Preferred; (iv) 16,364,832 shares
of Common Stock for issuance upon conversion of the outstanding shares of
Series C Preferred Stock; (v) 289,792 shares of Series C Preferred Stock for
issuance upon exercise of outstanding warrants and 289,792 shares of Common
Stock for issuance upon conversion of such Series C Preferred Stock;
(vi) 6,460,675 shares of Common Stock for issuance upon conversion of the
outstanding Series B Preferred Stock; (vii) 2,727,273 shares of Common Stock
for issuance upon conversion of the outstanding Series A Preferred Stock;
and (viii) an aggregate of 12,800,000 shares of Common Stock for issuance to
employees and consultants of the Company pursuant to the Companys 1999
Stock Option Plan, pursuant to which options to purchase 7,247,691 shares
are granted and outstanding and 1,518,223 shares are available for future
grant. As of the date hereof and after giving effect to the purchase of
Shares hereunder, each share of each series of the Companys Preferred Stock
is convertible into one share of the Companys Common Stock. Other than
with respect to the shares reserved for issuance in this paragraph, or as
set forth in the Ancillary Agreements (as defined below), there are no
outstanding rights, options, warrants, conversion rights, preemptive rights,
rights of first refusal or similar rights for the purchase or acquisition
from the Company of any securities of the Company. There are no outstanding
obligations of the Company to repurchase or redeem any of its securities.
3. Amendment to Section 2.16. Solely in connection with the sale of Additional Shares
pursuant to this Amendment, Section 2.16 (Financial Statements) of the Purchase Agreement is hereby
amended and restated in its entirety as follows:
The Company has made available to each Purchaser its audited balance
sheet dated as of December 31, 2004. The Company has also made available to
each Purchaser unaudited balance sheets dated December 31, 2005 and December
31, 2006 and the unaudited statements of operations for the fiscal years
then ended (collectively, the Financial Statements). The Financial
Statements are complete and correct in all material respects and have been
prepared in accordance with generally
- 3 -
accepted accounting principles applied on a consistent basis throughout
the periods indicated. The Financial Statements accurately set out and
describe the financial condition and operating results of the Company as of
the date, and during the periods, indicated therein. Except as set forth in
the Financial Statements, the Company has no material liabilities,
contingent or otherwise, other than (i) liabilities incurred in the ordinary
course of business subsequent to December 31, 2006 and (ii) obligations
under contracts and commitments incurred in the ordinary course of business
and not required under generally accepted accounting principles to be
reflected in the Financial Statements, which, in both cases, individually or
in the aggregate are not material to the financial condition or operating
results of the Company.
4. Governing Law. This Amendment shall be governed in all respects by the laws of the
State of California, without regard to any provisions thereof relating to conflicts of laws among
different jurisdictions.
5. Purchase Agreement. Wherever necessary, all other terms of the Purchase Agreement
are hereby amended to be consistent with the terms of this Amendment. Except as specifically set
forth herein, the Purchase Agreement shall remain in full force and effect.
6. Counterparts; Facsimile. This Amendment may be executed in any number of
counterparts, each of which shall be an original, and all of which together shall constitute one
instrument. Executed signatures transmitted via facsimile will be accepted and considered duly
executed.
7. Effect of Execution of Amendment by Certain Purchasers. This Amendment, when
executed and delivered by the Company and a Purchaser purchasing shares of Series E Preferred at a
Subsequent Closing held on or after the date hereof, shall also constitute and shall be deemed a
counterpart signature page to the Purchase Agreement. Consequently, each undersigned Purchaser
purchasing shares of Series E Preferred at a Subsequent Closing held on or after the date hereof
acknowledges and agrees that he, she or it is bound by the terms and conditions contained in the
Purchase Agreement, as amended by this Amendment, with respect to the purchase of such shares.
[Remainder of page intentionally left blank]
- 4 -
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3
to Series E Preferred Stock Purchase Agreement as of the Effective Date.
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COMPANY: |
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FLUIDIGM CORPORATION |
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a Delaware corporation |
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By:
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/s/ Gajus Worthington |
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|
Gajus Worthington, |
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President and Chief Executive Officer |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Fidelity Contrafund: |
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Fidelity Advisor New Insights Fund |
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By:
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/s/ Peter Lydecker
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Name:
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Peter Lydecker |
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Title:
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Assistant Treasurer |
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Fidelity Contrafund: Fidelity Contrafund |
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By:
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/s/ Peter Lydecker |
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Name:
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Peter Lydecker |
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Title:
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Assistant Treasurer |
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Variable Insurance Products Fund II: |
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Contrafund Portfolio |
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By:
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/s/ Peter Lydecker |
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Name:
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Peter Lydecker |
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Title:
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Assistant Treasurer |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Leerink Swann Holdings, LLC |
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By:
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/s/ Jeffrey Leerink |
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Name:
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Jeffrey Leerink |
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Title:
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Chairman |
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Leerink Swann Holdings, LLC |
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Co-Investment Fund, LLC |
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By:
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/s/ Donald D. Notman, Jr. |
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Name:
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Donald D. Notman, Jr. |
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Title:
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Managing Director |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
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PURCHASERS: |
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Cross Creek Capital, L.P. |
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By:
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Cross Creek Capital GP, L.P. |
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Its Sole General Partner |
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By:
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Cross Creek Capital, LLC |
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Its Sole General Partner |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Karey Barker |
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Name:
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Karey Barker |
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Title:
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Vice President |
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Cross Creek Capital Employees Fund, L.P. |
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By:
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Cross Creek Capital GP, L.P. |
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Its Sole General Partner |
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By:
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Cross Creek Capital, LLC
Its Sole General Partner |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Karey Barker |
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Name:
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Karey Barker |
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Title:
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Vice President |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Wasatch Funds, Inc. |
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By:
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Wasatch Advisors, Inc. |
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Its Sole Member |
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By:
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/s/ Venice Edwards
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Name:
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Venice Edwards |
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Title:
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Secretary |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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SMALLCAP World Fund, Inc. |
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By:
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Capital Research and Management Company, |
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its, investment adviser |
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By:
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/s/ Paul Haaga
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Name:
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Paul Haaga |
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Title: |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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AllianceBernstein Venture Fund I, L.P. |
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By:
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AllianceBernstein ESG Venture |
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Management, L.P., its general partner |
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By:
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AllianceBernstein Global Derivatives |
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Corporation, its general partner |
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By:
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/s/ James D. Kiggen
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Name:
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James D. Kiggen |
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Title:
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Senior Vice President |
|
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Versant Affiliates Fund 1-A, L.P. |
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Versant Affiliates Fund1-B, L.P. |
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Versant Side Fund I, L.P. |
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Versant Venture Capital I, L.P. |
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By:
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Versant Ventures I, LLC |
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its General Partner |
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By:
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/s/ Samuel D. Colella
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Name:
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Samuel D. Colella |
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Title:
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Managing Director |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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Lehman Brothers Healthcare Venture Capital |
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L.P. |
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By:
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Lehman Brothers HealthCare Venture Capital |
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Associates L.P., |
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its General Partner |
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By:
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LB I Group Inc., its General Partner |
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By:
Name:
|
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/s/ Ashvin Rao
Ashvin Rao
|
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Its:
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Vice President |
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Lehman Brothers P.A. LLC |
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By:
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/s/ Deborah Nordell |
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Name:
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Deborah Nordell |
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Its:
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Vice President |
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Lehman Brothers Partnership Account 2000/2001, |
|
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L.P. |
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By:
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LB I Group Inc., its General Partner |
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By:
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/s/ Ashvin Rao |
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Name:
|
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Ashvin Rao |
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Its:
|
|
Vice President |
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Lehman Brothers Offshore Partnership Account |
|
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2000/2001, L.P. |
|
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By:
|
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LB I Offshore Partners Group Ltd., its General Partner |
|
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By:
|
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/s/ Ashvin Rao |
|
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|
Name:
|
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Ashvin Rao |
|
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|
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Its:
|
|
Vice President |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
|
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|
EuclidSR Partners, L.P. |
|
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By:
|
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EuclidSR Associates, L.P. |
|
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|
|
its
|
|
General Partner |
|
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|
By:
|
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/s/ Elaine V. Jones
|
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|
Name:
|
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Elaine V. Jones |
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|
Title:
|
|
General Partner |
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EuclidSR Biotechnology Partners, L.P. |
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By:
|
|
EuclidSR Biotechnology Associates, L.P. |
|
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|
|
its General Partner |
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By:
|
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/s/ Elaine V. Jones |
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Name:
|
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Elaine V. Jones |
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Title:
|
|
General Partner |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
|
|
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|
Interwest Partners VII, L.P. |
|
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By:
|
|
InterWest Management Partners VII, LLC |
|
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|
|
its General Partner |
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By:
|
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/s/ Michael Sweeney
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|
Name:
|
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Michael Sweeney |
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|
|
Title:
|
|
As agent for the general partner |
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Interwest Investors VII, L.P. |
|
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By:
|
|
InterWest Management Partners VII, LLC |
|
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|
|
its General Partner |
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By:
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/s/ Michael Sweeney |
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|
Name:
|
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Michael Sweeney |
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|
|
Title:
|
|
As agent for the general partner |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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|
Lilly Bioventures, Eli Lilly & Company |
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By:
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/s/ Darren J. Carroll
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Name:
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Darren J. Carroll |
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Title:
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Executive Director |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
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|
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|
Alloy Ventures 2005, L.P. |
|
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By:
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|
Alloy Ventures 2005, LLC |
|
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|
|
its General Partner |
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By:
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/s/ Tony DiBona |
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|
|
Name:
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Toni DiBona |
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|
|
Title:
|
|
Managing Member of Alloy Ventures |
|
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|
|
2005 LLC |
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|
|
Alloy Ventures 2002, L.P. |
|
|
Alloy Partners 2002, L.P. |
|
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|
|
By:
|
|
Alloy Ventures 2002, LLC |
|
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|
|
|
|
its General Partner |
|
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|
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|
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|
|
By:
|
|
/s/ Tony DiBona |
|
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|
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|
|
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|
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|
|
Name:
|
|
Tony DiBona |
|
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|
|
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|
|
Title:
|
|
Managing Member of Alloy Ventures |
|
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|
|
2002, LLC, the general partner of Alloy |
|
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|
|
|
|
Partners 2002, L.P. and Alloy Ventures |
|
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|
|
2002, L.P. |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
|
|
|
|
|
|
|
/s/ Bruce Burrows
Bruce Burrows
|
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
|
|
|
|
|
|
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|
|
SightLine Healthcare Fund III, L.P. |
|
|
|
|
|
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|
|
By:
|
|
/s/ Maureen Harder
|
|
|
|
|
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|
|
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|
|
Name:
|
|
Maureen Harder |
|
|
|
|
|
|
|
|
|
|
|
Title:
|
|
Managing Director |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
|
|
|
|
|
|
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|
|
Biomedical Sciences Investment Fund Pte Ltd |
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Chu Swee Yeok
|
|
|
|
|
|
|
|
|
|
|
|
Name:
|
|
Chu Swee Yeok |
|
|
|
|
|
|
|
|
|
|
|
Title:
|
|
Director |
|
|
|
|
|
|
|
|
|
|
|
Singapore Bio-Innovations Pte Ltd |
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Sim Sze Kuan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name:
|
|
Sim Sze Kuan |
|
|
|
|
|
|
|
|
|
|
|
Title:
|
|
Director |
|
|
[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3 to
Series E Preferred Stock Purchase Agreement as of the Effective Date.
PURCHASERS:
|
|
|
|
|
|
|
|
|
Invus, L.P. |
|
|
|
|
|
|
|
|
|
By:
|
|
Invus Advisors LLC |
|
|
|
|
|
|
General Partner of Invus LP |
|
|
|
|
|
|
|
|
|
|
|
By:
|
|
/s/ Aflalo Guimaraes
|
|
|
|
|
|
|
|
|
|
|
|
Name:
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Aflalo Guimaraes |
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Title:
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Managing Director |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
EXHIBIT A
SCHEDULE OF PURCHASERS
SERIES E PREFERRED STOCK FINANCING SECOND EXTENDED CLOSING
OCTOBER 26, 2007
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Shares of Series E |
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Name |
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Preferred Stock |
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Purchase Price |
CLIPPERBAY & CO. |
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SMALLCAP World Fund, Inc. |
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2,153,695 |
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$ |
8,614,780.00 |
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TOTALS |
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2,153,695 |
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$ |
8,614,780.00 |
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IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3
to Series E Preferred Stock Purchase Agreement as of the 31st day of December, 2007.
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COMPANY: |
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FLUIDIGM CORPORATION |
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a Delaware corporation |
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By:
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/s/ Gajus Worthington
Gajus Worthington,
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President and Chief Executive Officer |
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 3
to Series E Preferred Stock Purchase Agreement as of the 31st day of December, 2007.
PURCHASER:
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/s/ Bruce Burrows
Bruce Burrows
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[Signature
Page to Amendment No. 3 to Fluidigm Corporation Series E Preferred Stock Purchase Agreement]
EXHIBIT A
SCHEDULE OF PURCHASER
SERIES E PREFERRED STOCK FINANCING THIRD EXTENDED CLOSING
DECEMBER 31, 2007
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Shares of Series E |
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Name |
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Preferred Stock |
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Purchase Price |
BRUCE BURROWS |
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250,000 |
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$ |
1,000,000.00 |
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TOTALS |
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250,000 |
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$ |
1,000,000.00 |
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EXHIBIT
B
FORM
OF AMENDED AND RESTATED ARTICLES OF INCORPORATION
FORM OF AMENDED AND RESTATED
ARTICLES OF INCORPORATION OF
FLUIDIGM CORPORATION
Gajus V. Worthington and William Smith each certify that:
1. They are the President and Secretary, respectively, of Fluidigm Corporation, a California
corporation (the Corporation).
2. The Amended and Restated Articles of Incorporation of the Corporation are hereby amended
and restated in full to read as set forth in EXHIBIT A attached hereto, which is
incorporated by reference as if fully set forth herein.
3. Said Amended and Restated Articles of Incorporation have been duly approved by the
Corporations Board of Directors.
4. Said Amended and Restated Articles of Incorporation have been duly approved by the required
vote of shareholders in accordance with Sections 902 and 903 of the Corporations Code. The total
number of outstanding shares of the corporation is 9,274,356 shares of Common Stock, 2,727,273
shares of Series A Preferred Stock, 6,460,675 shares of Series B Preferred Stock, 16,364,832 shares
of Series C Preferred Stock, and 11,714,048 shares of Series D Preferred Stock. The number of
shares voting in favor of the amendment equaled or exceeded the vote required. The percentage vote
required was more than 50% of the outstanding Common Stock, voting as a single class; more than 50%
of the outstanding Series A Preferred Stock, voting as a single class; at least 662/3% of the
outstanding Series B Preferred Stock, voting as a single class; at least 662/3% of the outstanding
Series C Preferred Stock, voting as a single class; at least 60% of the outstanding Series D
Preferred Stock, voting as a single class; more than 662/3% of the outstanding Preferred Stock,
voting as a single class; and more than 50% of the outstanding Common Stock and Preferred Stock,
voting together as a single class.
I further declare under penalty of perjury that the matters set forth in the foregoing
certificate are true and correct of my own knowledge.
Executed at Palo Alto, California, this ___ day of June 2006.
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Gajus V. Worthington |
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President |
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William M. Smith |
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Secretary |
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Exhibit A
FORM OF AMENDED AND RESTATED
ARTICLES OF INCORPORATION OF
FLUIDIGM CORPORATION
ARTICLE I
The name of the corporation is Fluidigm Corporation.
ARTICLE II
The purpose of this corporation is to engage in any lawful act or activity for which a
corporation may be organized under the General Corporation Law of California other than the banking
business, the trust company business or the practice of a profession permitted to be incorporated
under the California Corporations Code.
ARTICLE III
The total number of shares of stock that the corporation shall have authority to issue is One
Hundred Twenty-Nine Million Five Hundred Forty-Five Thousand Ninety-Two (129,545,092) consisting of
Seventy-Seven Million Eight Hundred Fifty-Seven Thousand One Hundred Forty-Four (77,857,144) shares
of Common Stock, $0.001 par value per share, and Fifty-One Million Six Hundred Eighty-Seven
Thousand Nine Hundred Forty-Eight (51,687,948) shares of Preferred Stock, $0.001 par value per
share. The first series of Preferred Stock shall be designated Series A Preferred Stock and
shall consist of Two Million Seven Hundred TwentySeven Thousand Two Hundred SeventyThree
(2,727,273) shares. The second series of Preferred Stock shall be designated Series B Preferred
Stock and shall consist of Six Million Four Hundred Sixty Thousand Six Hundred Seventy-Five
(6,460,675) shares. The third series of Preferred Stock shall be designated Series C Preferred
Stock and shall consist of Seventeen Million (17,000,000) shares. The fourth series of Preferred
Stock shall be designated Series D Preferred Stock and shall consist of Fifteen Million Five
Hundred Thousand (15,500,000) shares. The fifth series of Preferred Stock shall be designated
Series E Preferred Stock and shall consist of Ten Million (10,000,000) shares.
ARTICLE IV
The terms and provisions of the Common Stock and Preferred Stock are as follows:
1. Definitions. For purposes of this Article IV, the following definitions shall
apply:
(a) Conversion Price shall mean $1.10 per share for the Series A Preferred Stock,
$1.78 per share for the Series B Preferred Stock, $2.58 per share for the Series C Preferred
Stock, $2.80 per share for the Series D Preferred Stock, and $4.00 for the Series E Preferred
Stock (each subject to adjustment from time to time as set forth elsewhere herein).
(b) Convertible Securities shall mean any evidences of indebtedness, shares or other
securities (other than shares of Common Stock) convertible into or exchangeable for Common Stock.
(c) Corporation shall mean Fluidigm Corporation.
(d) Dividend Rate shall mean an annual rate of $0.11 per share for the Series A
Preferred Stock, an annual rate of $0.18 for the Series B Preferred Stock, an annual rate of $0.26
per share for the Series C Preferred Stock, an annual rate of $0.30 per share for the Series D
Preferred Stock, and an annual rate of $0.43 per share for the Series E Preferred Stock (each
subject to adjustment from time to time as set forth elsewhere herein).
(e) Liquidation Preference shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 per share for the Series B Preferred Stock, $2.58 per share for the Series C Preferred
Stock, $2.80 per share for the Series D Preferred Stock, and $4.00 per share for the Series E
Preferred Stock (each subject to adjustment from time to time as set forth elsewhere herein).
(f) Options shall mean rights, options or warrants to subscribe for, purchase or
otherwise acquire Common Stock or Convertible Securities.
(g) Original Issue Price shall mean $1.10 per share for the Series A Preferred
Stock, $1.78 for the Series B Preferred Stock, $2.58 per share for the Series C Preferred Stock,
$2.80 per share for the Series D Preferred Stock, and $4.00 per share for the Series E Preferred
Stock (each subject to adjustment from time to time as set forth elsewhere herein).
(h) Preferred Stock shall mean the Series A Preferred Stock, the Series B Preferred
Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series E Preferred
Stock.
2. Dividends.
(a) Series D and Series E Preferred Stock. The holders of outstanding shares of
Series D Preferred Stock and the holders of outstanding shares of Series E Preferred Stock shall be
entitled to receive dividends, when and as declared by the Board of Directors, out of any assets at
the time legally available therefor, at the Dividend Rates specified for such shares of Preferred
Stock, payable in preference and priority to any declaration or payment of any distribution on
Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock or Common Stock
(collectively, the Junior Stock) of the Corporation other than a dividend payable solely in
Common Stock. No distributions shall be made with respect to the Junior Stock during any fiscal
year of the Corporation, other than dividends on the Common Stock payable solely in Common Stock,
until all dividends at the applicable Dividend Rate on the Series E Preferred Stock and Series D
Preferred Stock have been declared and paid or set apart for payment to the holders of Series E
Preferred Stock and the holders of Series D Preferred Stock. Payment of any dividends to the
holders of the Series E Preferred Stock and the Series D Preferred Stock shall be on a pro
rata, pari passu basis in proportion to the Dividend Rates for the Series E Preferred Stock
and Series D Preferred Stock, as applicable.
-2-
The right to receive dividends on shares of Series E Preferred Stock and Series D Preferred
Stock shall not be cumulative, and no right to such dividends shall accrue to holders of Series E
Preferred Stock and Series D Preferred Stock by reason of the fact that dividends on said shares
are not declared or paid in any year.
(b) Series C Preferred Stock. The holders of outstanding shares of Series C Preferred
Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out
of any assets at the time legally available therefor, at the Dividend Rate specified for such
shares of Preferred Stock payable in preference and priority to any declaration or payment of any
distribution on Series A Preferred Stock, Series B Preferred Stock or Common Stock of the
Corporation other than a dividend payable solely in Common Stock. No distributions shall be made
with respect to the Series A Preferred Stock, Series B Preferred Stock or Common Stock during any
fiscal year of the Corporation, other than dividends on the Common Stock payable solely in Common
Stock, until all dividends at the applicable Dividend Rate on the Series C Preferred Stock have
been declared and paid or set apart for payment to the holders of Series C Preferred Stock. The
right to receive dividends on shares of Series C Preferred Stock shall not be cumulative, and no
right to such dividends shall accrue to holders of Series C Preferred Stock by reason of the fact
that dividends on said shares are not declared or paid in any year.
(c) Series A Preferred Stock and Series B Preferred Stock. The holders of outstanding
shares of Series A Preferred Stock and the holders of outstanding shares of Series B Preferred
Stock shall be entitled to receive dividends, when and as declared by the Board of Directors, out
of any assets at the time legally available therefor, at the Dividend Rate specified for such
shares of Preferred Stock payable in preference and priority to any declaration or payment of any
distribution on Common Stock of the Corporation other than a dividend payable solely in Common
Stock. No distributions shall be made with respect to the Common Stock, other than dividends
payable solely in Common Stock, until all dividends at the applicable Dividend Rate on the
Preferred Stock have been declared and paid or set apart for payment to the Preferred Stock
holders. Payment of any dividends to the holders of the Series A Preferred Stock and Series B
Preferred Stock shall be on a pro rata, pari passu basis in proportion to the
Dividend Rates for the Series A Preferred Stock and Series B Preferred Stock, as applicable. The
right to receive dividends on shares of Series A Preferred Stock and Series B Preferred Stock shall
not be cumulative, and no right to such dividends shall accrue to holders of Series A Preferred
Stock or Series B Preferred Stock by reason of the fact that dividends on said shares are not
declared or paid in any year.
(d) Distribution. For purposes of this Section 2, unless the context otherwise
requires, a distribution shall mean the transfer of cash or other property without consideration
whether by way of dividend or otherwise, payable other than in Common Stock, or the purchase or
redemption of shares of the Corporation other than (i) repurchase of shares of Common Stock issued
to or held by employees, consultants, officers and directors of the Corporation or its subsidiaries
upon termination of their employment or services pursuant to agreements providing for the right of
said repurchase and at the original purchase price paid by such employees, consultants, officers
and directors; and (ii) repurchase of Common Stock issued to or held by employees, officers,
directors or consultants of the Corporation or its subsidiaries pursuant to rights of first refusal
contained in agreements providing for such rights, provided that such repurchase is unanimously
approved by the Board of Directors; and (iii) any other repurchase or redemption of capital stock
of the corporation unanimously approved by the Board of Directors and approved by the holders of
the majority of the
-3-
Common Stock and the holders of more than two-thirds (2/3) of the outstanding shares of the
Preferred Stock, voting as separate classes.
(e) Common Stock. Dividends may be paid on the Common Stock as and when declared by
the Board of Directors, subject to the prior dividend rights of the Preferred Stock and Section 6
below.
(f) Non-Cash Distributions. Whenever a distribution provided for in this Section 2
shall be payable in property other than cash, the value of such distribution shall be deemed to be
the fair market value of such property as determined in good faith by the Board of Directors.
(g) Consent to Certain Repurchases. As authorized by Section 402.5(c) of the
California Corporations Code, Sections 502 and 503 of the California Corporations Code shall not
apply with respect to payments made by the Corporation in connection with (i) repurchase of shares
of Common Stock issued to or held by employees, consultants, officers and directors of the
Corporation or its subsidiaries upon termination of their employment or services pursuant to
agreements providing for the right of said repurchase and at the original purchase price paid by
such employees, consultants, officers and directors, and (ii) repurchase of Common Stock issued to
or held by employees, officers, directors or consultants of the Corporation or its subsidiaries
pursuant to rights of first refusal contained in agreements providing for such rights, provided
that such repurchase is unanimously approved by the Board of Directors, and (iii) any other
repurchase or redemption of Common Stock unanimously approved by the Board of Directors and
approved by the holders of more than two-thirds (2/3) of the outstanding shares of Preferred Stock
voting together as a single class.
3. Liquidation Rights.
In the event of any liquidation, dissolution or winding up of the Corporation, either
voluntary or involuntary, distribution of the assets of the Corporation legally available for
distribution to the Corporations shareholders shall be made in the following manner:
(a) Series E Liquidation Preference. The holders of the Series E Preferred Stock
shall be entitled to receive, prior and in preference to any distribution of any of the assets of
the Corporation to the holders of the Common Stock, the Series A Preferred Stock, the Series B
Preferred Stock, the Series C Preferred Stock, or the Series D Preferred Stock, by reason of their
ownership of such stock, an amount per share for each share of Series E Preferred Stock held by
them equal to the sum of (i) the Liquidation Preference for such shares and (ii) all declared and
unpaid dividends on such share of Series E Preferred Stock. If the assets of the Corporation
legally available for distribution to the holders of the Series E Preferred Stock are insufficient
to permit the payment to such holders of the full amounts specified in this Section 3(a), then the
entire assets of the Corporation legally available for distribution shall be distributed with equal
priority and pro rata among the holders of the Series E Preferred Stock in
proportion to the full amounts they would otherwise be entitled to receive pursuant to this Section
3(a).
(b) Series D Liquidation Preference. After payment to the holders of Series E
Preferred Stock of the full amounts specified in Section 3(a) above, the holders of the Series D
Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any of
the
-4-
assets of the Corporation to the holders of the Common Stock, the Series A Preferred Stock,
the Series B Preferred Stock or the Series C Preferred Stock by reason of their ownership of such
stock, an amount per share for each share of Series D Preferred Stock held by them equal to the sum
of (i) the Liquidation Preference for such shares and (ii) all declared and unpaid dividends on
such share of Series D Preferred Stock. If the remaining assets of the Corporation legally
available for distribution to the holders of Series D Preferred Stock are insufficient to permit
the payment to such holders of the full amounts specified in this Section 3(b), then the entire
remaining assets of the Corporation legally available for distribution shall be distributed with
equal priority and pro rata among the holders of the Series D Preferred Stock in
proportion to the full amounts they would otherwise be entitled to receive pursuant to this Section
3(b).
(c) Series C Liquidation Preference. After payment to the holders of Series E
Preferred Stock and to the holders of Series D Preferred Stock of the full amounts specified in
Sections 3(a) and 3(b) above, the holders of the Series C Preferred Stock shall be entitled to
receive, prior and in preference to any distribution of any of the assets of the Corporation to the
holders of the Common Stock, the Series A Preferred Stock or the Series B Preferred Stock by reason
of their ownership of such stock, an amount per share for each share of Series C Preferred Stock
held by them equal to the sum of (i) the Liquidation Preference for such shares and (ii) all
declared and unpaid dividends on such share of Series C Preferred Stock. If the remaining assets
of the Corporation legally available for distribution to the holders of the Series C Preferred
Stock are insufficient to permit the payment to such holders of the full amounts specified in this
Section 3(c), then the entire remaining assets of the Corporation legally available for
distribution shall be distributed with equal priority and pro rata among the
holders of the Series C Preferred Stock in proportion to the full amounts they would otherwise be
entitled to receive pursuant to this Section 3(c).
(d) Series B Liquidation Preference. After the payment to the holders of Series E
Preferred Stock, the holders of Series D Preferred Stock, and the holders of Series C Preferred
Stock of the full amounts specified in Sections 3(a), 3(b), and 3(c) above, the holders of the
Series B Preferred Stock shall be entitled to receive, prior and in preference to any distribution
of any of the remaining assets of the Corporation to the holders of the Common Stock or Series A
Preferred Stock by reason of their ownership of such stock, an amount per share for each share of
Series B Preferred Stock held by them equal to the sum of (i) the Liquidation Preference for such
shares and (ii) all declared and unpaid dividends on such share of Series B Preferred Stock. If
the remaining assets of the Corporation legally available for distribution to the holders of the
Series B Preferred Stock are insufficient to permit the payment to such holders of the full amounts
specified in this Section 3(d), then the entire remaining assets of the Corporation legally
available for distribution shall be distributed with equal priority and pro rata
among the holders of the Series B Preferred Stock in proportion to the full amounts they would
otherwise be entitled to receive pursuant to this Section 3(d).
(e) Series A Liquidation Preference. After the payment to the holders of Series E
Preferred Stock, the holders of Series D Preferred Stock, the holders of Series C Preferred Stock,
and the holders of Series B Preferred Stock of the full amounts specified in Sections 3(a), 3(b),
3(c) and 3(d) above, the holders of the Series A Preferred Stock shall be entitled to receive,
prior and in preference to any distribution of any of the remaining assets of the Corporation to
the holders of the Common Stock by reason of their ownership of such stock, an amount per share for
each share of
-5-
Series A Preferred Stock held by them equal to the sum of (i) the Liquidation Preference for
such shares and (ii) all declared and unpaid dividends on such share of Series A Preferred Stock.
If the remaining assets of the Corporation legally available for distribution to the holders of the
Series A Preferred Stock are insufficient to permit the payment to such holders of the full amounts
specified in this Section 3(e), then the entire remaining assets of the Corporation legally
available for distribution shall be distributed with equal priority and pro rata
among the holders of the Series A Preferred Stock in proportion to the full amounts they would
otherwise be entitled to receive pursuant to this Section 3(e).
(f) Remaining Assets. After the payment to the holders of Preferred Stock of the full
amounts specified in Sections 3(a), 3(b), 3(c), 3(d) and 3(e) above, the entire remaining assets of
the Corporation legally available for distribution shall be distributed pro rata to
holders of the Common Stock of the Corporation in proportion to the number of shares of Common
Stock held by them.
(g) Shares Not Treated as Both Preferred Stock and Common Stock in Any Distribution.
Shares of Preferred Stock shall not be entitled to be converted into shares of Common Stock in
order to participate in any distribution, or series of distributions, as shares of Common Stock,
without first foregoing participation in the distribution, or series of distributions, as shares of
Preferred Stock.
(h) Reorganization. For purposes of this Section 3, a liquidation, dissolution or
winding up of the Corporation shall be deemed to be occasioned by, or to include, (i) the
acquisition of the Corporation by another entity by means of any transaction or series of related
transactions (including, without limitation, any stock acquisition, reorganization, merger or
consolidation but excluding any merger effected exclusively for the purpose of changing the
domicile of the Corporation) other than a transaction or series of transactions in which the
holders of the voting securities of the Corporation outstanding immediately prior to such
transaction or series of transactions continue to retain (either by such voting securities
remaining outstanding or by such voting securities being converted into voting securities of the
surviving entity), as a result of shares in the Corporation held by such holders prior to such
transaction, at least fifty percent (50%) of the total voting power represented by the voting
securities of the Corporation or such surviving entity outstanding immediately after such
transaction or series of transactions; or (ii) a sale, transfer, lease or other conveyance of all
or substantially all of the assets of the Corporation.
(i) Valuation of Non-Cash Consideration. If any assets of the Corporation distributed
to shareholders in connection with any liquidation, dissolution, or winding up of the Corporation
are other than cash, then the value of such assets shall be their fair market value as determined
in good faith by the Board of Directors, except that any securities to be distributed to
shareholders in a liquidation, dissolution, or winding up of the Corporation shall be valued as
follows:
(i) If the securities are then traded on a national securities exchange or the Nasdaq Stock
Market System (or a similar national quotation system), then the value of the securities shall be
deemed to be to the average of the closing prices of the securities on such exchange or system over
the ten (10) trading day period ending five (5) trading days prior to the distribution;
-6-
(ii) if the securities are actively traded over-the-counter, then the value of the securities
shall be deemed to be the average of the closing bid prices of the securities over the ten (10)
trading day period ending five (5) trading days prior to the distribution; or
(iii) if there is no active public market for the securities, then the value of the securities
shall be deemed to be the fair market value thereof as determined in good faith by the Board of
Directors which determination shall include consideration of the illiquidity of the securities.
In the event of a merger or other acquisition of the Corporation by another entity, the
distribution date shall be deemed to the date such transaction closes.
For the purposes of this Section 3(i), trading day shall mean any day on which the exchange
or system on which the securities to be distributed are traded is open, and closing prices or
closing bid prices shall be deemed to be: (i) for securities traded primarily on the New York
Stock Exchange, the American Stock Exchange or Nasdaq, the last reported trade price or sale price,
as the case may be, at 4:00 p.m., New York time, on that day and (ii) for securities listed or
traded on other exchanges, markets and systems, the market price as of the end of the regular
hours trading period that is generally accepted as such for such exchange, market or system. If,
after the date hereof, the benchmark times generally accepted in the securities industry for
determining the market price of a stock as of a given trading day shall change from those set forth
above, the fair market value shall be determined as of such other generally accepted benchmark
times.
4. Conversion. The holders of the Preferred Stock shall have conversion rights as
follows (the Conversion Rights):
(a) Right to Convert. Subject to Section 4(c), each share of Preferred Stock shall be
convertible, at the option of the holder thereof, at any time after the date of issuance of such
share at the office of the Corporation or any transfer agent for the Preferred Stock, into that
number of fully-paid, nonassessable shares of Common Stock determined by dividing the Original
Issue Price for the relevant series by the Conversion Price for such series. (The number of shares
of Common Stock into which each share of Preferred Stock of a series may be converted is
hereinafter referred to as the Conversion Rate for each such series.) Upon any decrease or
increase in the Conversion Price for any series of Preferred Stock, as described in this Section 4,
the Conversion Rate for such series shall be appropriately increased or decreased.
(b) Automatic Conversion. Each share of Preferred Stock shall automatically be
converted into fully-paid, non-assessable shares of Common Stock at the then effective Conversion
Rate for such share (i) immediately prior to the closing of a firm commitment underwritten initial
public offering on Form S-1 (or successor form) filed under the Securities Act of 1933, as amended
(the Securities Act), covering the offer and sale of the Corporations Common Stock, provided
that the offering price per share is not less than $5.69 (as adjusted for subdivisions and
combinations of the Common Stock and changes in the Common Stock as set forth in Sections 4(e) and
4(g)) and the aggregate gross proceeds to the Corporation are not less than $25,000,000, or (ii)
upon the receipt by the Corporation of a written consent or request for such conversion from the
holders of two-thirds of the shares of Preferred Stock then outstanding, or, if later, the
effective date for
-7-
conversion specified in such requests (each of the events referred to in (i) and (ii) being
hereinafter referred to as an Automatic Conversion Event).
(c) Mechanics of Conversion. No fractional shares of Common Stock shall be issued
upon conversion of Preferred Stock. In lieu of any fractional shares to which the holder would
otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the then
fair market value of a share of Common Stock as determined by the Board of Directors. For such
purpose, all shares of Preferred Stock held by each holder of Preferred Stock shall be aggregated,
and any resulting fractional share of Common Stock shall be paid in cash. Before any holder of
Preferred Stock shall be entitled to convert the same into full shares of Common Stock, and to
receive certificates therefor, he shall either surrender the certificate or certificates therefor,
duly endorsed, at the office of the Corporation or of any transfer agent for the Preferred Stock,
or notify the Corporation or its transfer agent that such certificate or certificates have been
lost, stolen or destroyed and execute an agreement satisfactory to the Corporation to indemnify the
Corporation from any loss incurred by it in connection with such certificate or certificates, and
shall give written notice to the Corporation at such office that he elects to convert the same;
provided, however, that on the date of an Automatic Conversion Event, the
outstanding shares of Preferred Stock shall be converted automatically without any further action
by the holders of such shares and whether or not the certificates representing such shares are
surrendered to the Corporation or its transfer agent; provided further, however, that the
Corporation shall not be obligated to issue certificates evidencing the shares of Common Stock
issuable upon such Automatic Conversion Event unless either the certificates evidencing such shares
of Preferred Stock are delivered to the Corporation or its transfer agent as provided above, or the
holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen
or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation
from any loss incurred by it in connection with such certificates. On the date of the occurrence
of an Automatic Conversion Event, each holder of record of shares of Preferred Stock shall be
deemed to be the holder of record of the Common Stock issuable upon such conversion,
notwithstanding that the certificates representing such shares of Preferred Stock shall not have
been surrendered at the office of the Corporation, that notice from the Corporation shall not have
been received by any holder of record of shares of Preferred Stock, or that the certificates
evidencing such shares of Common Stock shall not then be actually delivered to such holder.
The Corporation shall, as soon as practicable after such delivery, or after such agreement and
indemnification, issue and deliver at such office to such holder of Preferred Stock, a certificate
or certificates for the number of shares of Common Stock to which he shall be entitled as aforesaid
and a check payable to the holder in the amount of any cash amounts payable as the result of a
conversion into fractional shares of Common Stock, plus any declared and unpaid dividends on the
converted Preferred Stock. Such conversion shall be deemed to have been made immediately prior to
the close of business on the date of such surrender of the shares of Preferred Stock to be
converted, and the person or persons entitled to receive the shares of Common Stock issuable upon
such conversion shall be treated for all purposes as the record holder or holders of such shares of
Common Stock on such date; provided, however, that if the conversion is in
connection with an underwritten offer of securities registered pursuant to the Securities Act the
conversion may, at the option of any holder tendering Preferred Stock for conversion, be
conditioned upon the closing of the sale of securities pursuant to such offering, in which event
the person(s) entitled to receive the
-8-
Common Stock issuable upon such conversion of the Preferred Stock shall not be deemed to have
converted such Preferred Stock until immediately prior to the closing of the sale of such
securities.
(d) Adjustments to Conversion Price for Diluting Issues.
(i) Special Definition. For purposes of this Section 4(d), Additional Shares of
Common shall mean all shares of Common Stock issued (or, pursuant to Section 4(d)(iii), deemed to
be issued) by the Corporation after the filing of these Articles of Incorporation, other than:
(1) [omitted];
(2) shares of Common Stock issued or issuable to officers, directors and employees of, or
consultants and other service providers to, the Corporation pursuant to stock grants, option plans,
purchase plans or other employee stock incentive programs or arrangements approved by the Board of
Directors or upon exercise of options or warrants granted to such parties pursuant to any such
plan, program or arrangement;
(3) shares of Common Stock issued upon the exercise or conversion of Options or Convertible
Securities outstanding as of the date of the filing of these Articles of Incorporation;
(4) shares of Common Stock issued or issuable as a dividend or distribution on Preferred Stock
or pursuant to any event for which adjustment is made pursuant to Section 4(e), 4(f) or 4(g)
hereof;
(5) shares of Common Stock issued in a registered public offering under the Securities Act
pursuant to which all outstanding shares of Preferred Stock are automatically converted into Common
Stock pursuant to an Automatic Conversion Event;
(6) shares of Common Stock issued or issuable pursuant to the acquisition of another
corporation by the Corporation by merger, purchase of substantially all of the assets or other
reorganization or to a joint venture agreement, provided, that such issuances are unanimously
approved by the Board of Directors;
(7) shares of Common Stock issued or issuable to banks, equipment lessors or other financial
institutions pursuant to a commercial leasing or debt financing transaction approved by the Board
of Directors;
(8) shares of Common Stock issued or issuable in connection with sponsored research,
collaboration, technology license, development, OEM, marketing or other similar agreements, or
strategic partnerships or relationships, if the issuance is approved by the Board of Directors; and
(9) shares of Common Stock issued or issuable upon conversion of up to $18 million in
aggregate principal amount (plus interest) of convertible promissory notes originally issued or
issuable to Biomedical Sciences Investment Fund Pte Ltd. or its affiliates (BMSIF) and upon
conversion of up to $3 million in aggregate principal amount (plus interest) of convertible
promissory notes originally issued or issuable to Invus, L.P. or its affiliates, provided
-9-
that with respect to any shares of Common Stock issued or issuable upon conversion of
convertible promissory notes issued or issuable to BMSIF after the filing of these Articles of
Incorporation with an aggregate principal amount in excess of $3.0 million, such shares of Common
Stock shall only be excluded from the definition of Additional Shares of Common pursuant to this
section if and to the extent the applicable conversion price for such shares equals or exceeds
$3.60 (as adjusted for stock splits, subdivisions, combinations or stock dividends).
(ii) No Adjustment of Conversion Price. No adjustment in the Conversion Price of a
particular series of Preferred Stock shall be made in respect of the issuance of Additional Shares
of Common unless the consideration per share (as determined pursuant to Section 4(d)(vii)) for an
Additional Share of Common issued or deemed to be issued by the Corporation is less than the
Conversion Price in effect on the date of, and immediately prior to such issue, for such series of
Preferred Stock.
(iii) Deemed Issue of Additional Shares of Common. In the event the Corporation at
any time or from time to time after the date of the filing of these Articles of Incorporation shall
issue any Options or Convertible Securities or shall fix a record date for the determination of
holders of any class of securities entitled to receive any such Options or Convertible Securities,
then the maximum number of shares (as set forth in the instrument relating thereto without regard
to any provisions contained therein for a subsequent adjustment of such number) of Common Stock
issuable upon the exercise of such Options or, in the case of Convertible Securities, the
conversion or exchange of such Convertible Securities or, in the case of Options for Convertible
Securities, the exercise of such Options and the conversion or exchange of the underlying
securities, shall be deemed to have been issued as of the time of such issue or, in case such a
record date shall have been fixed, as of the close of business on such record date, provided that
in any such case in which shares are deemed to be issued:
(1) no further adjustment in the Conversion Price of the Preferred Stock shall be made upon
the subsequent issue of Convertible Securities or shares of Common Stock in connection with the
exercise of such Options or conversion or exchange of such Convertible Securities pursuant to the
terms of such Options or Convertible Securities;
(2) if no adjustment in the Conversion Price of the Preferred Stock was made upon the original
issue of (or upon the occurrence of a record date with respect to) such Options or Convertible
Securities and such Options or Convertible Securities are revised to provide, or by their terms
provide, with the passage of time or otherwise, for any increase or decrease in the consideration
payable to the Corporation, or any increase or decrease in the number of shares of Common Stock
issuable, upon the exercise, conversion or exchange thereof, then such Options or Convertible
Securities as so revised (and the Additional Shares of Common subject thereto) shall be deemed to
have been issued effective upon such increase or decrease becoming effective;
(3) if such Options or Convertible Securities are revised to provide, or by their terms
provide, with the passage of time or otherwise, for any increase or decrease in the consideration
payable to the Corporation, or any increase or decrease in the number of shares of Common Stock
issuable, upon the exercise, conversion or exchange thereof, the Conversion Price of the Preferred
Stock computed upon the original issue thereof (or upon the occurrence of a record date with
respect thereto), and any subsequent adjustments based thereon,
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shall, upon any such increase or decrease becoming effective, be recomputed to reflect such
increase or decrease insofar as it affects such Options or the rights of conversion or exchange
under such Convertible Securities;
(4) no readjustment pursuant to clause (3) above shall have the effect of increasing the
Conversion Price of the Preferred Stock to an amount which exceeds the lower of (i) the Conversion
Price of the Preferred Stock on the original adjustment date, or (ii) the Conversion Price of the
Preferred Stock that would have resulted from any issuance of Additional Shares of Common between
the original adjustment date and such readjustment date;
(5) upon the expiration of any such Options or any rights of conversion or exchange under such
Convertible Securities which shall not have been exercised, the Conversion Price computed upon the
original issue thereof (or upon the occurrence of a record date with respect thereto) and any
subsequent adjustments based thereon shall, upon such expiration, be recomputed as if:
(A) in the case of Convertible Securities or Options for Common Stock, the only Additional
Shares of Common issued were the shares of Common Stock, if any, actually issued upon the exercise
of such Options or the conversion or exchange of such Convertible Securities and the consideration
received therefor was the consideration actually received by the Corporation for the issue of such
exercised Options plus the consideration actually received by the Corporation upon such exercise or
for the issue of all such Convertible Securities which were actually converted or exchanged, plus
the additional consideration, if any, actually received by the Corporation upon such conversion or
exchange, and
(B) in the case of Options for Convertible Securities, only the Convertible Securities, if
any, actually issued upon the exercise thereof were issued at the time of issue of such Options,
and the consideration received by the Corporation for the Additional Shares of Common deemed to
have been then issued was the consideration actually received by the Corporation for the issue of
such exercised Options, plus the consideration deemed to have been received by the Corporation
(determined pursuant to Section 4(d)(vii)) upon the issue of the Convertible Securities with
respect to which such Options were actually exercised; and
(6) if such record date shall have been fixed and such Options or Convertible Securities are
not issued on the date fixed therefor, the adjustment previously made in the Conversion Price which
became effective on such record date shall be canceled as of the close of business on such record
date, and thereafter the Conversion Price shall be adjusted pursuant to this Section 4(d)(iii) as
of the actual date of their issuance.
(iv) Adjustment of Conversion Price of Series E Preferred Stock Upon Issuance of
Additional Shares of Common.
(1) For so long as the Conversion Price of the Series E Preferred Stock is greater than $2.58
(as adjusted for subdivisions and combinations of the Common Stock and changes in the Common Stock
as set forth in Sections 4(e) and 4(g)) (the Series D/E Ratchet Amount), in the event this
Corporation shall issue Additional Shares of Common (including Additional Shares of Common deemed
to be issued pursuant to Section 4(d)(iii)) for a consideration
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per share less than the applicable Conversion Price of the Series E Preferred Stock in effect
on the date of and immediately prior to such issue, but for a consideration per share equal to or
greater than the Series D/E Ratchet Amount, then the Conversion Price of the Series E Preferred
Stock shall be reduced concurrently with such issue to a price (calculated to the nearest cent)
equal to the per share price of the Additional Shares of Common.
(2) In the event this Corporation shall issue Additional Shares of Common (including
Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than the Series D/E Ratchet Amount, then the
Conversion Price of the Series E Preferred Stock immediately prior to such issue shall be deemed to
be equal to the Series D/E Ratchet Amount (the Series E Adjusted Conversion Price), and such
Series E Adjusted Conversion Price shall be further reduced, concurrently with such issue, to a
price (calculated to the nearest cent) determined by multiplying such Series E Adjusted Conversion
Price by a fraction, the numerator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of shares of Common Stock which the
aggregate consideration received by the Corporation for the total number of Additional Shares of
Common so issued would purchase at such Adjusted Conversion Price, and the denominator of which
shall be the number of shares of Common Stock outstanding immediately prior to such issue plus the
number of such Additional Shares of Common so issued. For the purposes of this Section
4(d)(iv)(2), all shares of Common Stock issuable upon exercise of outstanding Options or the
conversion of outstanding Convertible Securities and shares of Preferred Stock, and all Additional
Shares of Common deemed issued pursuant to Section 4(d)(iii) hereof, shall be deemed to be
outstanding. Section 4(d)(iv)(3) shall govern adjustments to the Conversion Price of the Series E
Preferred Stock after the first adjustment to the Conversion Price of the Series E Preferred Stock
pursuant to this Section 4(d)(iv)(2).
(3) After any adjustment to the Conversion Price of the Series E Preferred Stock pursuant to
Section 4(d)(iv)(2), in the event this Corporation shall issue Additional Shares of Common
(including Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than Conversion Price of the Series E Preferred
Stock in effect on the date of and immediately prior to such issue, then, the Conversion Price of
the Series E Preferred Stock shall be reduced concurrently with such issue, to a price (calculated
to the nearest cent) determined by multiplying such Conversion Price by a fraction, the numerator
of which shall be the number of shares of Common Stock outstanding immediately prior to such issue
plus the number of shares of Common Stock which the aggregate consideration received by the
Corporation for the total number of Additional Shares of Common so issued would purchase at such
Conversion Price, and the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of such Additional Shares of Common so
issued. For the purposes of this Section 4(d)(iv)(3), all shares of Common Stock issuable upon
exercise of outstanding Options or the conversion of outstanding Convertible Securities and shares
of Preferred Stock, and all Additional Shares of Common deemed issued pursuant to Section 4(d)(iii)
hereof, shall be deemed to be outstanding.
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(v) Adjustment of Conversion Price of Series D Preferred Stock Upon Issuance of Additional
Shares of Common.
(1) For so long as the Conversion Price of the Series D Preferred Stock is greater than the
Series D/E Ratchet Amount, in the event this Corporation shall issue Additional Shares of Common
(including Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) for a
consideration per share less than the applicable Conversion Price of the Series D Preferred Stock
in effect on the date of and immediately prior to such issue, but for a consideration per share
equal to or greater than the Series D/E Ratchet Amount, then the Conversion Price of the Series D
Preferred Stock shall be reduced concurrently with such issue to a price (calculated to the nearest
cent) equal to the per share price of the Additional Shares of Common.
(2) In the event this Corporation shall issue Additional Shares of Common (including
Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than the Series D/E Ratchet Amount, then the
Conversion Price of the Series D Preferred Stock immediately prior to such issue shall be deemed to
be equal to the Series D/E Ratchet Amount (the Series D Adjusted Conversion Price), and such
Series D Adjusted Conversion Price shall be further reduced, concurrently with such issue, to a
price (calculated to the nearest cent) determined by multiplying such Series D Adjusted Conversion
Price by a fraction, the numerator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of shares of Common Stock which the
aggregate consideration received by the Corporation for the total number of Additional Shares of
Common so issued would purchase at such Series D Adjusted Conversion Price, and the denominator of
which shall be the number of shares of Common Stock outstanding immediately prior to such issue
plus the number of such Additional Shares of Common so issued. For the purposes of this Section
4(d)(v)(2), all shares of Common Stock issuable upon exercise of outstanding Options or the
conversion of outstanding Convertible Securities and shares of Preferred Stock, and all Additional
Shares of Common deemed issued pursuant to Section 4(d)(iii) hereof, shall be deemed to be
outstanding. Section 4(d)(v)(3) shall govern adjustments to the Conversion Price of the Series D
Preferred Stock after the first adjustment to the Conversion Price of the Series D Preferred Stock
pursuant to this Section 4(d)(v)(2).
(3) After any adjustment to the Conversion Price of the Series D Preferred Stock pursuant to
Section 4(d)(v)(2), in the event this Corporation shall issue Additional Shares of Common
(including Additional Shares of Common deemed to be issued pursuant to Section 4(d)(iii)) without
consideration or for a consideration per share less than Conversion Price of the Series D Preferred
Stock in effect on the date of and immediately prior to such issue, then, the Conversion Price of
the Series D Preferred Stock shall be reduced concurrently with such issue, to a price (calculated
to the nearest cent) determined by multiplying such Conversion Price by a fraction, the numerator
of which shall be the number of shares of Common Stock outstanding immediately prior to such issue
plus the number of shares of Common Stock which the aggregate consideration received by the
Corporation for the total number of Additional Shares of Common so issued would purchase at such
Conversion Price, and the denominator of which shall be the number of shares of Common Stock
outstanding immediately prior to such issue plus the number of such Additional Shares of Common so
issued. For the purposes of this Section 4(d)(v)(3), all shares of Common Stock issuable upon
exercise of outstanding Options or the conversion of outstanding Convertible
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Securities and shares of Preferred Stock, and all Additional Shares of Common deemed issued
pursuant to Section 4(d)(iii) hereof, shall be deemed to be outstanding.
(vi) Adjustment of Conversion Price of Series A, B and C Preferred Stock. In the
event this Corporation shall issue Additional Shares of Common (including Additional Shares of
Common deemed to be issued pursuant to Section 4(d)(iii)) without consideration or for a
consideration per share less than the applicable Conversion Price of the Series A Preferred Stock,
Series B Preferred Stock or Series C Preferred Stock in effect on the date of and immediately prior
to such issue, then, the Conversion Price of the Series A Preferred Stock, Series B Preferred Stock
or Series C Preferred Stock (if affected) shall be reduced, concurrently with such issue, to a
price (calculated to the nearest cent) determined by multiplying such Conversion Price by a
fraction, the numerator of which shall be the number of shares of Common Stock outstanding
immediately prior to such issue plus the number of shares of Common Stock which the aggregate
consideration received by the Corporation for the total number of Additional Shares of Common so
issued would purchase at such Conversion Price, and the denominator of which shall be the number of
shares of Common Stock outstanding immediately prior to such issue plus the number of such
Additional Shares of Common so issued. For the purposes of this Section 4(d)(vi), all shares of
Common Stock issuable upon exercise of outstanding Options or the conversion of outstanding
Convertible Securities and shares of Preferred Stock, and all Additional Shares of Common deemed
issued pursuant to Section 4(d)(iii) hereof, shall be deemed to be outstanding.
(vii) Determination of Consideration. For purposes of this Section 4(d), the
consideration received by the Corporation for the issue (or deemed issue) of any Additional Shares
of Common shall be computed as follows:
(1) Cash and Property. Such consideration shall:
(A) insofar as it consists of cash, be computed at the aggregate amount of cash received by
the Corporation before deducting reasonable discounts, commissions or other expenses allowed, paid
or incurred by the Corporation for any underwriting or otherwise in connection with such issue (or
deemed issue);
(B) insofar as it consists of property other than cash, be computed at the fair market value
thereof at the time of such issue, as determined in good faith by the Board of Directors; and
(C) in the event Additional Shares of Common are issued together with other shares or
securities or other assets of the Corporation for consideration which covers both, be the
proportion of such consideration so received, computed as provided in clauses (A) and (B) above, as
reasonably determined in good faith by the Board of Directors.
(2) Options and Convertible Securities. The consideration per share received by the
Corporation for Additional Shares of Common deemed to have been issued pursuant to Section
4(d)(iii) shall be determined by dividing
(X) the total amount, if any, received or receivable by the Corporation as consideration for
the issue of such Options or Convertible Securities, plus the minimum aggregate amount of
additional consideration (as set forth in the instruments relating
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thereto, without regard to any provision contained therein for a subsequent adjustment of such
consideration) payable to the Corporation upon the exercise of such Options or the conversion or
exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the
exercise of such Options for Convertible Securities and the conversion or exchange of such
Convertible Securities by
(Y) the maximum number of shares of Common Stock (as set forth in the instruments relating
thereto, without regard to any provision contained therein for a subsequent adjustment of such
number) issuable upon the exercise of such Options or the conversion or exchange of such
Convertible Securities.
(e) Adjustments for Subdivisions or Combinations of Common Stock. In the event the
outstanding shares of Common Stock shall be subdivided (by stock split, by payment of a stock
dividend or otherwise), into a greater number of shares of Common Stock, the Conversion Price of
each series of Preferred Stock in effect immediately prior to such subdivision shall, concurrently
with the effectiveness of such subdivision, be proportionately decreased. In the event the
outstanding shares of Common Stock shall be combined (by reclassification or otherwise) into a
lesser number of shares of Common Stock, the Conversion Prices in effect immediately prior to such
combination shall, concurrently with the effectiveness of such combination, be proportionately
increased.
(f) Adjustments for Subdivisions or Combinations of Preferred Stock. In the event the
outstanding shares of Preferred Stock or a series of Preferred Stock shall be subdivided (by stock
split, by payment of a stock dividend or otherwise), into a greater number of shares of Preferred
Stock, the Dividend Rate, Original Issue Price and Liquidation Preference of the affected series of
Preferred Stock in effect immediately prior to such subdivision shall, concurrently with the
effectiveness of such subdivision, be proportionately decreased. In the event the outstanding
shares of Preferred Stock or a series of Preferred Stock shall be combined (by reclassification or
otherwise) into a lesser number of shares of Preferred Stock, the Dividend Rate, Original Issue
Price and Liquidation Preference of the affected series of Preferred Stock in effect immediately
prior to such combination shall, concurrently with the effectiveness of such combination, be
proportionately increased.
(g) Adjustments for Reclassification, Exchange and Substitution. Subject to Section 3
above (Liquidation Rights), if the Common Stock issuable upon conversion of the Preferred Stock
shall be changed into the same or a different number of shares of any other class or classes of
stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision
or combination of shares provided for above), then, in any such event, in lieu of the number of
shares of Common Stock which the holders would otherwise have been entitled to receive, each holder
of such Preferred Stock shall have the right thereafter to convert such shares of Preferred Stock
into a number of shares of such other class or classes of stock which a holder of the number of
shares of Common Stock deliverable upon conversion of such series of Preferred Stock immediately
before that change would have been entitled to receive in such reorganization or reclassification,
all subject to further adjustment as provided herein with respect to such other shares.
(h) No Impairment. The Corporation will not through any reorganization, transfer of
assets, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or
seek
-15-
to avoid the observance or performance of any of the terms to be observed or performed
hereunder by the Corporation but will at all times in good faith assist in the carrying out of all
the provisions of this Section 4 and in the taking of all such action as may be necessary or
appropriate in order to protect the Conversion Rights of the holders of Preferred Stock against
impairment. Notwithstanding the foregoing, nothing in this Section 4(h) shall prohibit the
Corporation from amending its Articles of Incorporation with the requisite consent of its
shareholders and the board of directors.
(i) Certificate as to Adjustments. Upon the occurrence of each adjustment or
readjustment of the Conversion Price pursuant to this Section 4, the Corporation at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and
furnish to each holder of Preferred Stock a certificate setting forth such adjustment or
readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
The Corporation shall, upon the written request at any time of any holder of Preferred Stock,
furnish or cause to be furnished to such holder a like certificate setting forth (i) such
adjustments and readjustments, (ii) the Conversion Price at the time in effect and (iii) the number
of shares of Common Stock and the amount, if any, of other property which at the time would be
received upon the conversion of Preferred Stock.
(j) Notices of Record Date. In the event that this Corporation shall propose at any
time:
(i) to declare any dividend or distribution upon its Common Stock, whether in cash, property,
stock or other securities, whether or not a regular cash dividend and whether or not out of
earnings or earned surplus;
(ii) to effect any reclassification or recapitalization of its Common Stock outstanding
involving a change in the Common Stock; or
(iii) to voluntarily liquidate or dissolve or to enter into any transaction deemed to be a
liquidation, dissolution or winding up of the corporation pursuant to Section 3(f);
then, in connection with each such event, this Corporation shall send to the holders of the
Preferred Stock at least 14 days prior written notice of the date on which a record shall be taken
for such dividend or distribution (and specifying the date on which the holders of Common Stock
shall be entitled thereto) or for determining rights to vote in respect of the matters referred to
in (ii) and (iii) above.
Each such written notice shall be given by first class mail, postage prepaid, addressed to the
holders of Preferred Stock at the address for each such holder as shown on the books of this
Corporation.
The right of the holders of the Preferred Stock to notice hereunder may be waived by the
holders of more than two-thirds (2/3) of the outstanding shares of the Preferred Stock voting
together as a single class.
(k) Reservation of Stock Issuable Upon Conversion. The Corporation shall at all times
reserve and keep available out of its authorized but unissued shares of Common Stock solely
-16-
for the purpose of effecting the conversion of the shares of the Preferred Stock, such number
of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of
all then outstanding shares of the Preferred Stock; and if at any time the number of authorized but
unissued shares of Common Stock shall not be sufficient to effect the conversion of all then
outstanding shares of the Preferred Stock, the Corporation will take such corporate action as may,
in the opinion of its counsel, be necessary to increase its authorized but unissued shares of
Common Stock to such number of shares as shall be sufficient for such purpose.
(l) Waiver of Adjustment of Conversion Price. Notwithstanding anything herein to the
contrary, any downward adjustment of the Conversion Price of any series of Preferred Stock may be
waived by the consent or vote of the holders of more than two-thirds (2/3) of the outstanding shares
of such series. Any such waiver shall bind all future holders of shares of such series of
Preferred Stock.
5. Voting.
(a) Restricted Class Voting. Except as otherwise expressly provided herein or as
required by law, the holders of Preferred Stock and the holders of Common Stock shall vote together
and not as separate classes.
(b) No Series Voting. Other than as provided herein or required by law, there shall
be no series voting.
(c) Preferred Stock. Each holder of Preferred Stock shall be entitled to the number
of votes equal to the number of shares of Common Stock into which the shares of Preferred Stock
held by such holder could be converted as of the record date. The holders of shares of the
Preferred Stock shall be entitled to vote on all matters on which the Common Stock shall be
entitled to vote. Holders of Preferred Stock shall be entitled to notice of any shareholders
meeting in accordance with the Bylaws of the Corporation. Fractional votes shall not, however, be
permitted and any fractional voting rights resulting from the above formula (after aggregating all
shares into which shares of Preferred Stock held by each holder could be converted), shall be
disregarded.
(d) Common Stock. Each holder of shares of Common Stock shall be entitled to one vote
for each share thereof held.
(e) Election of Directors. So long as at least 2,000,000 shares of Series D Preferred
Stock (as adjusted for stock splits, subdivisions, combinations or stock dividends with respect to
such shares) remain outstanding, the holders of the Series D Preferred Stock, voting as a separate
class, shall be entitled to elect two (2) members of the Corporations Board of Directors at each
meeting or pursuant to each consent of the Corporations shareholders for the election of
directors. So long as at least 2,000,000 shares of Series C Preferred Stock (as adjusted for stock
splits, subdivisions, combinations or stock dividends with respect to such shares) remain
outstanding, the holders of Series C Preferred Stock, voting as a separate class, shall be entitled
to elect three (3) members of the Corporations Board of Directors at each meeting or pursuant to
each consent of the Corporations shareholders for the election of directors. Any additional
members of the Corporations Board of Directors shall be elected by the holders of Common Stock,
Series A
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Preferred Stock, Series B Preferred Stock, and Series E Preferred Stock, voting together as a
single class.
6. Amendments and Changes Requiring Approval of Preferred Stock. As long as any of
the Preferred Stock shall be issued and outstanding, the Corporation shall not, without first
obtaining the approval (by vote or written consent as provided by law) of the holders of at least
two-thirds (2/3) of the outstanding shares of the Preferred Stock voting together as a single class:
(a) amend, alter or repeal any provision of the Articles of Incorporation or By-laws of the
Corporation if such action would adversely alter the rights, preferences, privileges or powers of,
or restrictions provided for the benefit of the Preferred Stock or any series thereof;
(b) enter into any transaction or series of related transactions deemed to be a liquidation,
dissolution or winding up of the Corporation pursuant to Section 3(f) above;
(c) voluntarily liquidate or dissolve;
(d) declare or pay any distribution (as defined in Section 2(d) except for distributions upon
a liquidation or dissolution) with respect to the Common Stock of the Corporation;
(e) permit any subsidiary of the Corporation to sell securities to a third party (other than
directors qualifying shares in the case of subsidiaries outside the United States);
(f) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Preferred Stock;
(g) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, liquidation, redemption,
conversion or other rights senior to or on a parity with any series of Preferred Stock or with
respect to voting senior to any series of Preferred Stock;
(h) increase or decrease the authorized number of directors of the Corporation; or
(i) amend this Section 6.
7. Amendments and Changes Requiring the Approval of the Series E Preferred Stock.
(a) As long as any of the Series E Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least 60% of the outstanding shares of the Series E Preferred Stock:
(i) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series E Preferred Stock in a manner different from
any other series of Preferred Stock; or
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(ii) amend this Section 7(a).
(b) As long as any of the Series E Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least a majority of the outstanding shares of the Series E Preferred
Stock:
(i) declare or pay any distribution (as defined in Section 2(d) except for distributions upon
a liquidation or dissolution) with respect to the Common Stock or Preferred Stock of the
Corporation; or
(ii) amend this Section 7(b).
(c) As long as any of the Series E Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least 66 2/3% of the outstanding shares of the Series D Preferred
Stock and Series E Preferred Stock voting together as a single class on an as converted to Common
Stock basis:
(i) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series E Preferred Stock;
(ii) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series E Preferred Stock or with respect to
voting senior to the Series E Preferred Stock; or
(iii) amend this Section 7(c).
8. Amendments and Changes Requiring the Approval of the Series D Preferred Stock.
(a) As long as any of the Series D Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least 60% of the outstanding shares of the Series D Preferred Stock:
(i) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series D Preferred Stock in a manner different from
any other series of Preferred Stock; or
(ii) amend this Section 8(a).
(b) As long as any of the Series D Preferred Stock shall be issued and outstanding, the
Corporation shall not, without first obtaining the approval (by vote or written consent as provided
by law) of the holders of at least a majority of the outstanding shares of the Series D Preferred
Stock:
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(i) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series D Preferred Stock;
(ii) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series D Preferred Stock or with respect to
voting senior to the Series D Preferred Stock;
(iii) declare or pay any distribution (as defined in Section 2(d) except for distributions
upon a liquidation or dissolution) with respect to the Common Stock or Preferred Stock of the
Corporation;
(iv) increase the authorized number of directors of the Corporation above eleven (11); or
(v) amend this Section 8(b).
9. Amendments and Changes Requiring the Approval of the Series C Preferred Stock. As
long as any of the Series C Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of at least two-thirds (2/3) of the outstanding shares of the Series C Preferred Stock:
(a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series C Preferred Stock in a manner different from
any other series of Preferred Stock;
(b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series C Preferred Stock;
(c) authorize or create (by reclassification or otherwise) any new class or series of capital
stock having rights, preferences or privileges with respect to dividends, payments upon liquidation
or other rights senior to or on a parity with the Series C Preferred Stock or with respect to
voting senior to the Series C Preferred Stock;
(d) declare or pay any distribution (as defined in Section 2(d) except for distributions upon
a liquidation or dissolution) with respect to the Common Stock or Preferred Stock of the
Corporation;
(e) increase the authorized number of directors of the Corporation above eleven (11); or
(f) amend this Section 9.
10. Amendments and Changes Requiring the Approval of the Series B Preferred Stock. As
long as any of the Series B Preferred Stock shall be issued and outstanding, the Corporation shall
not, without first obtaining the approval (by vote or written consent as provided by law) of the
holders of at least two-thirds of the outstanding shares of the Series B Preferred Stock:
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(a) amend, alter or repeal any provision of the Articles of Incorporation of the Corporation
if such action would adversely alter the rights, preferences, privileges or powers of, or
restrictions provided for the benefit of the Series B Preferred Stock in a manner different from
any other series of Preferred Stock;
(b) increase or decrease (other than for decreases resulting from conversion of the Preferred
Stock) the authorized number of shares of Series B Preferred Stock; or
(c) amend this Section 10.
11. Status of Converted Stock. In the event any shares of Preferred Stock shall be
converted pursuant to Article 4 hereof, then the shares so converted shall be cancelled and shall
not be issuable by the Corporation. The Articles of Incorporation shall be appropriately amended
to effect the corresponding reduction in the Corporations authorized capital stock.
12. Notices. Any notice required by the provisions of this Article IV to be given to
the holders of Preferred Stock shall be deemed given if deposited in the United States mail,
postage prepaid, and addressed to each holder of record at such holders address appearing on the
books of the Corporation.
ARTICLE V
1. Limitation of Directors Liability. The liability of the directors of this
Corporation for monetary damages shall be eliminated to the fullest extent permissible under
California law.
2. Indemnification of Corporate Agents. This Corporation is authorized to provide
indemnification of agents (as defined in Section 317 of the California Corporations Code) through
bylaw provisions, agreements with agents, votes of shareholders or disinterested directors or
otherwise, in excess of the indemnification otherwise permitted by Section 317 of the California
Corporations Code, subject only to the applicable limits set forth in Section 204 of the California
Corporations Code with respect to actions for breach of duty to this Corporation and its
shareholders.
3. Repeal or Modification. Any repeal or modification of the foregoing provisions of
this Article V shall not adversely affect any right of indemnification or limitation of liability
permitted under California law relating to acts or omissions occurring prior to such repeal or
modification.
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EXHIBIT
C
SCHEDULE
OF EXCEPTIONS
FLUIDIGM CORPORATION
SERIES E PREFERRED STOCK PURCHASE AGREEMENT
UPDATED SCHEDULE OF EXCEPTIONS
October 26, 2007
FLUIDIGM CORPORATION, a Delaware corporation (the Company), hereby makes the
following exceptions and additional disclosure to the representations and warranties set forth in
Section 2 of the Series E Preferred Stock Purchase Agreement dated as of June 13, 2007 between the
Company and the Purchasers thereunder, as amended by that certain Amendment No.1 dated December 22,
2006, and further amended by Amendment No. 2 dated October 10, 2007 and Amendment No. 3 dated
October 26, 2007 (as amended, the Agreement). Except as otherwise defined herein, all
capitalized terms used herein shall have the meanings given them in the Agreement. The section
numbers below correspond to the section numbers of the representations and warranties in the
Agreement; provided that any information disclosed herein under any section number shall be deemed
to be disclosed and incorporated under any other section number under the Agreement where such
disclosure would be appropriate.
Nothing in this Schedule of Exceptions is intended to broaden the scope of any representation
or warranty contained in the Agreement or to create any covenant. Inclusion of any item in this
Schedule of Exceptions (1) does not represent a determination that such item is material or
establish a standard of materiality, (2) does not represent a determination that such item did not
arise in the ordinary course of business, (3) does not represent a determination that the
transactions contemplated by the Agreement require the consent of third parties, and (4) shall not
constitute, or be deemed to be, an admission to any third party concerning such item. This
Schedule of Exceptions includes brief descriptions or summaries of certain agreements and
instruments, copies of which are available upon reasonable request. Such descriptions do not
purport to be comprehensive, and are qualified in their entirety by reference to the text of the
documents described.
This Schedule of Exceptions reflects exceptions and additional disclosure to the
representations and warranties made by the Company set forth in Section 2 of the Agreement as of
October 26, 2007, and has not been updated for Subsequent Closings. The Purchaser acknowledges
that there may be changes to such exceptions and additional disclosure since October 26, 2007, and
accepts the Schedule of Exceptions as of October 26, 2007.
2.1 Organization, Good Standing and Qualification
On July 18, 2007, Fluidigm Corporation, a California corporation (Fluidigm California) was
merged with and into the Company, with the Company being the surviving corporation such that the
Company succeeded to all of Fluidigm Californias rights and obligations, including those under the
Purchase Agreement.
2.3 Subsidiaries
The Company has a wholly-owned subsidiary in Singapore, Fluidigm Singapore Pte. Ltd.
The Company has a wholly-owned subsidiary in the Netherlands, Fluidigm Europe, B.V., which has
a wholly-owned subsidiary in France, Fluidigm France, S.A.R.L.
The Company has a wholly-owned subsidiary in Japan, Fluidigm Japan K.K.
2.4 Capitalization
The Company has extended offers of option grants for up to approximately 200,000 shares of
Common Stock to certain of the Companys employees and consultants in addition to the options that
are currently outstanding. In addition, the Company is currently negotiating or has entered into
agreements with consultants and employees for the issuance of options to purchase shares of the
Companys Common Stock under the Companys 1999 Stock Option Plan.
In connection with a Development Collaboration and License Agreement (the Collaboration
Agreement) entered into on September 22, 2003 between the Company and Glaxo Group Limited
(Glaxo) and SmithKline Beecham Corporation (SKB), the Company issued warrants to purchase
90,000 shares of Series C Preferred Stock and 90,000 shares of Series C Preferred Stock to Glaxo
and warrants to purchase 110,000 and 110,000 shares of Series C Preferred Stock to SKB. One of the
warrants to purchase 90,000 shares of Series C Preferred Stock issued to Glaxo and one of the
warrants to purchase 110,000 shares of Series C Preferred Stock issued to SKB expired pursuant to
their terms and are not shown as outstanding in the Agreement.
The Company entered into various agreements with Lighthouse Capital Partners V, L.P.
(Lighthouse) as described in Section 2.14 below. In connection with these transactions, the
Company borrowed $13,000,000 under the loan and security agreement and issued a warrant to
Lighthouse to purchase 371,428 shares of the Companys Series D Preferred Stock. As of September
30, 2007, the Company owed approximately $9,601,037 under the notes.
The Company is a party to a License Agreement between the Company and the California Institute
of Technology (Caltech) dated May 1, 2000, which was amended and restated in June 2002 effective
as of May 1, 2002, further amended in June 2003, with a restatement date of May 1, 2004, as further
amended March 29, 2007 (collectively, the Caltech License Agreement). Pursuant to the Caltech
License Agreement, the Company was obligated on an annual basis to issue to Caltech 50,000 shares
of the Companys Common Stock on each occasion that the Company determined to add patent rights to
the license.
The Company and Biomedical Sciences Investment Fund Pte Ltd. (BMSIF) are parties to a
Convertible Note Purchase Agreement dated as of December 18, 2003, as amended by Amendment No. 1 to
Convertible Note Purchase Agreement dated December 17, 2004 and as further amended by a letter
agreement dated June 30, 2005 (collectively, the CNPA). Pursuant to the CNPA, the Company
issued a Convertible Promissory Note, as amended by Amendment to Convertible Promissory Note dated
December 17, 2004, and as further amended by Amendment No. 2 to Convertible Promissory Note dated
June 30, 2005 (collectively, the Note) to BMSIF in exchange for $2,000,000. In December 2005,
upon the successful completion of certain specified milestones by the Company, the principal amount
of and the accrued interest under the Note were converted into 832,635 shares of Series D Preferred
Stock at a conversion price per share of $2.80.
In addition, as a result of the Companys achieving of such specified milestones, the Company
has required BMSIF to purchase an additional convertible promissory note (the Supplemental Note)
in the aggregate principal amount of $3,000,000 on June 20, 2006.
The principal amount of and interest on the Supplemental Note was convertible into shares of
Series D Preferred Stock of the Company at a conversion price of $2.80 per share (subject to
adjustment) upon the earlier of an initial public offering in connection with which the Companys
Preferred Stock has converted into Common Stock or the satisfaction of certain specified
milestones. In addition, BMSIF may electively convert the Supplemental Note into shares of Series
D Preferred Stock at any time. The principal amount and interest under the Supplemental Note could
not be prepaid except under limited circumstances. In July, 2007 upon completion of certain
specified milestones by the Company, the principal amount of and the accrued interest under the
Supplemental Note were converted into 1,157,142 shares of Series D Preferred Stock at a conversion
price per share of $2.80.
The Company and Invus, L.P. are parties to a Convertible Note Agreement dated December 18,
2003, as amended by Amendment No. 1 to Convertible Note Agreement executed in November 2005 (the
CNA). The CNA provides that in the event the Company issues to BMSIF Supplemental Notes in the
aggregate principal amount of $3,000,000 upon the happening of certain events, Invus has the right
to purchase a convertible promissory note in the principal amount of $3,000,000 (the Invus Note)
from the Company. Recently, Invus, L.P. and the Company decided not to issue the Invus Note.
The Company and BMSIF entered into a Convertible Note Purchase Agreement, dated as of August
7, 2006, as amended by that certain Letter Agreement dated November 15, 2006 and as further amended
by that certain Letter Agreement dated January 31, 2007 (as amended, the 2006 CNPA). The 2006
CNPA permits the Company to borrow up to $15 million in three $5 million tranches, subject to
availability based on the achievement of specified milestones. The Company has sold and issued to
BMSIF all three convertible promissory notes, each in the principal amount of $5 million. The
initial two convertible promissory notes converted into 1,460,730 and 1,493,607 shares of Series E
Preferred Stock on March 31, 2007. Upon conversion of the second convertible promissory note,
BMSIF purchased the third (and final) convertible promissory note in the principal amount of $5
million.
In March 2003, the Company entered into (i) a Master Closing Agreement (the Master Closing
Agreement) with Oculus Pharmaceuticals, Inc. (Oculus) and the University of Alabama Research
Foundation (UABRF); (ii) a License Agreement with UABRF; and (iii) a Sponsored Research Agreement
with UABRF. The Company is obligated to issue up to $2,100,000 of additional shares of its stock
to UABRF in connection with the satisfaction of certain milestones. If the Company is a private
Company at the time a milestone is achieved, upon achievement of a milestone, the Company is to
issue shares of the series of Preferred Stock that was issued in the Companys most recent
financing and the shares are to be valued at the price the shares were sold in such financing. If
the Company is a public company at the time a milestone is achieved, upon achievement of a
milestone, the Company is to issue shares of Common stock valued at the average closing price of
the Companys Common Stock over the five trading days preceding the achievement of the milestone.
In February 2005, UABRF sent a letter to the Company requesting issuance of the shares in relation
to the milestones. The Company replied in writing that the milestones had not been satisfied and
that it had no obligation to issue the shares at that time. The Company achieved a milestone in
2006 and as a result issued $600,000 worth of shares of its Series D Preferred Stock to UABRF and
other designated parties. Following the satisfaction of the milestone, the parties have been
negotiating the Companys continuing obligations, if any, under the agreements identified above,
which may include an obligation on the part of the Company to issue additional shares of its stock
to UABRF.
The Company is party to an offer letter with Richard DeLateur, the Companys Chief Financial
Officer, which provides that in the event of a Change of Control (as defined in the offer letter)
50% of the shares subject to the option granted to Mr. DeLateur in connection with his acceptance
of
employment with the Company that are unvested at the time of such Change of Control shall
become immediately vested.
The Company has approved an issuance of 6,000 shares of the Companys Common Stock to Stanford
University. Such issuance has not been completed.
See Section 2.10(f) regarding Dr. Stephen R. Quake.
2.7 Government Consents
The Company makes no representation or warranty with respect to any consent, approval, order
or authorization of, or registration, qualification, designation, declaration or filing with any
foreign governmental entity and has assumed for purposes of the Agreement that none of the
foregoing is required.
2.8 Litigation
See Section 2.10(a).
The Company has received a letter from a supplier of certain materials used in the Companys
Topaz and certain other products requesting that the Company cease and desist using a lid with the
materials or obtain a license from the supplier for using the design of the lid. Upon
investigation, the Company determined that it had developed the lid design independently from the
supplier and also began developing alternates to the materials, which are currently approved for
manufacturing. The Company wrote a letter explaining these opinions to the supplier and the
parties have been in negotiations regarding this matter resulting in the supplier providing a
proposed settlement agreement with a $55,000 buy-out option for the Company and the Company replied
with a revised draft settlement agreement. The Company is currently waiting for the supplier to
comment on the revised draft settlement agreement.
2.9 Employees
William Smith, the Companys general counsel, is currently working for the Company and also
remains a partner at Townsend and Townsend and Crew LLP. Mr. Smith serves on the Board of
Directors of two private companies, Theracos Corporation and Arbor Vita Corporation.
Richard DeLateur, the Companys Chief Financial Officer, currently works four days a week and
it is anticipated that Mr. DeLateurs service will decrease and his employment with the Company
will terminate. Mr. DeLateur and the Company do not have a schedule for the eventual termination
of Mr. DeLateurs employment.
2.10 Patents and Other Intangible Assets
2.10(a)
The Company has rights to the patents, trademarks and applications listed on Schedule
2.10 attached hereto, although some of the patent rights listed may not currently be being
utilized by the Company in, and may not be necessary for, the Companys business as now conducted.
The Companys registered domain names are fluidigm.com, fluidigm.net, fluidigm.biz, fluidigm.info
and mycometrix.com.
The Company currently is selling two product lines: (i) the Topaz crystallization
microprocessors (also referred to as Integrated Fluidic Circuits or IFCs) and certain associated
apparatuses; and (ii) the BioMark System, including certain IFCs, such as Dynamic Array chips,
Digital Array chips (also referred to as DID chips) and ImmunoMatrix chips, as well as certain
associated apparatuses. The Company has not completed investigations with respect to the
Intellectual Property Rights required for the BioMark System product line or for additional
applications of the Companys technology. In conjunction with this analysis, the Company has
sought and will continue to seek opinions from counsel with respect to potentially relevant third
party patent rights directed to, e.g., certain RealTime PCR and other PCR reagents and instruments,
such as assigned to Roche Molecular Systems and/or Applied BioSystems, an Applera Corporation
Business. The Company, therefore, may need to acquire additional Intellectual Property Rights to
pursue those lines of business, particularly with respect to microfluidic devices for PCR and other
assays, although the Company has not presently determined that blocking Intellectual Property
Rights of others exist in this regard.
The Company has entered into a Collaboration Agreement dated January 24, 2005 (the CTI
Collaboration Agreement) with CTI Molecular Imaging, Inc. (subsequently acquired by Siemens)
(CTI), under which the parties are to develop microfluidic chips and associated apparatuses for
use in positron emission tomography (PET). Under the CTI Collaboration Agreement, both CTI and
the Company have granted licenses to the other as necessary to conduct the research and development
program contemplated by the CTI Collaboration Agreement. The Company has also granted CTI an
option under certain of the Companys intellectual property to manufacture chips developed during
the collaboration. The Company also has rights to intellectual property developed under the
Collaboration Agreement, subject to certain restrictions under which CTI and certain other
collaborating entities have specified rights in the defined PET and associated fields. Recently,
Siemens notified the Company that it does not intend to exercise the option or continue the
research and development program. Discussions are underway relating to the early termination of
the Collaboration Agreement, and for the Company to obtain all rights to intellectual property
developed under the CTI Collaboration Agreement, including intellectual property rights arising
from (i) a patent application filed by Siemens and Caltech in which the Company believes that
certain Company scientists should have been named as co-inventors; (ii) additional patent
applications in the PET field allegedly filed by or on behalf of Siemens potentially with Caltech
inventors; and (iii) CTI activities with third parties. The Company and Siemens have agreed
starting in 2007 to not engage in further funded research under the CTI Collaboration Agreement.
The Company is licensee under a series of agreements with the President and Fellows of Harvard
College, under which the Company pays royalties to Harvard. The Company renegotiated the terms of
its agreements with Harvard and reduced the number of licenses from five to three, effective in
January 2005. The Company and Harvard will be discussing potential royalty obligations of the
Company to Harvard relating to transactions where the Company has received revenue but has not
directly charged for product transfers, such as for certain microfluidic chips.
In January 2003, the Company entered into a Patent License Agreement with Gyros pursuant to
which the Company received a non-exclusive license to certain patents from Gyros relating to the
Companys products. In exchange for the license, the Company has made certain payments to Gyros.
In January 2004, the Company exercised an option to add an additional field of use to the scope of
the license agreement in exchange for a cash payment. In January 2007, the Company did not elect
or pay for another additional field for, e.g., ImmunoMatrix chips, for which the Company has
conducted and is continuing to conduct research and development activities. The Company and Gyros
have had discussions regarding the extension of the field and Gyros has offered such extension
pursuant to the terms of the Patent License Agreement. In addition, the Company is obligated to
make royalty
payments on certain Company products incorporating the technology licensed from Gyros. The
amounts otherwise paid by the Company may be used as a credit with respect to the royalty payments.
The agreement provides for certain indemnity obligations of the Company.
With respect to certain patent filings then-controlled by Oculus Pharmaceuticals with
overlapping claims to the Syrrx patent referred to in the paragraph below, the Company entered into
in March 2003 (i) the Master Closing Agreement; (ii) a License Agreement with UABRF (the UABRF
License Agreement); and (iii) a Sponsored Research Agreement with UABRF. The license is an
exclusive license, subject to certain exceptions (including rights UABRF may have previously
granted Diversified Scientific, Inc. so that Diversified Scientific could perform research
obligations under grants). UABRF and affiliated entities have the right to internal use of the
intellectual property rights and to fulfill obligations under a National Institutes of Health
grant. Pursuant to the Master Closing Agreement, the Company made an up-front payment to UABRF and
granted UABRF shares of the Companys Series C Preferred Stock. The Company is obligated to issue
additional shares of its stock to UABRF in the event certain milestones are achieved as described
in Section 2.4 hereof. In connection with the satisfaction of a milestone, the Company may become
obligated to enter into a non-transferable site license so that an entity will have the right to
use the technology licensed to the Company for internal drug discovery efforts. Pursuant to the
Sponsored Research Agreement, the Company agreed to support a UABRF research program. The
Sponsored Research Program Agreement contains certain terms relating to the license of intellectual
property rights arising out of the program. The Company has certain indemnification obligations
pursuant to the agreements referred to in this paragraph.
In conjunction with the development of the Companys protein crystallization microprocessor
prototype, the Company became aware of U.S. Patent no. 6,296,673, issued to the Regents of the
University of California (the Regents) and apparently exclusively licensed to Syrrx Corporation
(note: Sam Colella of Versant Ventures, Chairman of the Companys Board of Directors, used to be
Chairman of Syrrx, which has been acquired by Takeda Pharmaceutical Company Limited). Based on
Syrrxs contentions of infringement with respect to the patent, related patent applications and the
Companys products, the Company has sought and obtained a patent opinion from counsel with respect
to the patent and entered into license negotiations with Syrrx for a license/sublicense to the
patent and other patent filings assigned to the Regents and Syrrx. In December 2003, the Company
entered into a license agreement with Syrrx (the Syrrx License Agreement), pursuant to which, in
exchange for a field restricted and nonexclusive license under intellectual property owned or
controlled by Syrrx, the Company issued Syrrx shares of the Companys Common Stock, made an
up-front payment and annual minimum payments. In addition, the Company is obligated to pay a
royalty in connection with the sale of certain products of the Company that incorporate the
intellectual property licensed and is obligated to indemnify Syrrx for matters relating to the
practice by the Company of any license or sublicense under the agreement. In January 2006, an
interference was declared by the USPTO between a patent application licensed to the Company under
the UABRF License Agreement and the above-identified patent and other related patents. While the
interference was ongoing, the Company, Syrrx, UABRF and Athersys, Inc. (a company that allegedly
acquired certain rights from Oculus) were in negotiations to settle the interference and modify the
parties obligations under the Syrrx License Agreement, the Master Closing Agreement, and the UABRF
License Agreement. Recently, in an appealable decision, the USPTO invalidated all claims of both
parties in the interference, and Syrrx decided not to appeal. Due to this decision and these
negotiations, the Company may decide not to maintain the Syrrx License Agreement in 2008.
The Company is aware of patents and patent applications controlled by Micronics Corporation
and Diversified Scientific, Inc. that potentially relate to the Companys protein crystallization
product
line. The Company has sought and obtained opinions from patent counsel regarding such patents
and has conducted preliminary discussions with each of these entities regarding the possibility of
obtaining a license to the relevant intellectual property. The necessity of obtaining a license
from each and the outcome of such negotiations remain uncertain although in certain Micronics
patent applications watched by the Company, the claims have been amended to not cover the Companys
protein crystallization product line. In February 2005, Diversified Scientific announced a plan to
auction its recently broadened (by USPTO re-examination) patent and other intellectual property
related to crystal image analysis. The Company indicated interest to Diversified Scientific in
submitting a bid. Diversified Scientific replied that it would respond to the Company and
additional interested bidders after checking with their counsel on certain legal issues relating to
the apparently improper broadening of patents by re-examination. The Company has not received a
further response from Diversified Scientific.
With respect to the patents and patent filings described in the foregoing paragraph, those
relating to the BioMark System described above and those not subject to the CTI Collaboration
Agreement, there can be no assurance that the Company will be able to obtain licenses on terms
acceptable to the Company. In addition, there can be no assurance that the holders of such patents
or patent filings will not initiate and prevail in litigation against the Company with respect to
the patents or patent filings.
The Company routinely investigates patents held by third parties to determine whether there
may be any conflict with the Company Intellectual Property Rights. While such investigations are
ongoing, the Company is not currently aware of any conflict except as disclosed herein.
With respect to certain microfluidics protein crystallization technology licensed to the
Company from Caltech, a University of California scientist, Dr. James Berger, is a co-inventor of
this technology along with certain Caltech scientists. Therefore, the Regents of the University
of California own certain rights in the invention which the Company understands have been licensed
to Caltech. The Company has sublicensed these rights from Caltech. As the Company is a
sublicensee, if Caltechs license from the Regents were to be revoked or terminated for any reason,
the Companys ability to practice and license this technology internationally would be subject to
certain limitations.
See also the discussion of the possible new collaboration agreement in Section 2.17 below, the
Companys license agreement with Caltech in Section 2.10(b) below and the discussion of the
Companys letter from a supplier in Section 2.8 above.
2.10(b)
See Section 2.10(a) above and Schedule 2.10 attached hereto. In addition, in
connection with sales of the Companys products, the Companys standard terms and conditions
include limited licenses to use the Companys products, including licenses to the Companys
software. The Company also has entered into (i) several prototype and other evaluation agreements
and material transfer agreements with third parties, which agreements provide for the third partys
use of the Companys products for a limited period of time typically in return for grant-back
licenses to the Company of improvements, and (ii) material transfer agreements in which the parties
may assign to each other certain intellectual property rights. The Company has sold BioMark System
prototypes and products and is entering into agreements with respect to additional sales,
evaluations and development agreements relating to the BioMark System. The Company typically
negotiates either standstill, grant-back or other rights to certain inventions made by the Company
or third parties using the prototypes. The Company intends to continue to negotiate collaboration
or other agreements with third parties.
The Exclusive Patent License Agreement dated November 2, 2000 with the Regents listed in
Schedule 2.10 requires the Company to make efforts to commercialize products relating to
the technology licensed to the Company. The Regents sent the Company a notice of termination of
the agreement in part due to the alleged failure of the Company to make such efforts. The Regents
rescinded the notice of termination and the Company intended to renegotiate the agreement to modify
the requirement that the Company make efforts to commercialize the technology. The Company has
received a request from the Regents for reports and diligence relating to the agreement. The
Company and Regents agreed to terminate the agreement with no further obligations of either party.
In connection with entering into the most recent amendment to the Caltech License Agreement,
and in response to a request from Caltech, the Company terminated its license of certain patent
rights that it deemed not material to the Companys business as currently conducted in exchange for
a cash payment from Caltech and a reduction in the Companys potential obligation to issue stock to
Caltech. The Company understands that Caltech has licensed these patent rights to another entity,
Helicos Biosciences Corporation. Dr. Steve Quake, a former director of and former consultant to
the Company, co-founded Helicos, and Versant Ventures, a significant investor in the Company, is
also a significant investor in Helicos. The Company believes that a conflict could exist between
the license Caltech granted to Helicos and Caltechs license of patent rights to the Company, if
Caltechs license with Helicos does not specifically exclude the patent rights granted to the
Company. The patent rights licensed from Caltech to Helicos include a cross-reference to, and
disclosure relating to, the patent rights the Company licenses from Caltech. Effective April 23,
2007, as amended May 11, 2007, the Company executed an Intellectual Property Agreement with Caltech
and Helicos.
2.10(c)
See discussions in Sections 2.10(a) and (b) above.
2.10(d)
The Company utilizes certain inventions developed by Steve Quake (See discussions in Section
2.10(f) below) prior to the formation of the Company and the inventions of certain employees
developed while they were working or studying at Caltech. The Company has rights to these
inventions pursuant to its license agreements with Caltech described in Schedule 2.10
attached hereto.
See discussion in Section 2.9 relating to William Smith. Townsend and Townsend and Crew LLP
from time to time provides legal services to Caltech and other parties with whom the Company has
business relationships.
2.10(e)
See discussion in Section 2.10(b).
Steve Quake and certain employees of the Company who previously worked at or studied at
Caltech have a right, pursuant to their agreements with Caltech, to receive a portion of the
royalties Caltech receives under its license agreements with the Company described in Schedule
2.10 attached hereto.
The Company has license agreements with shareholders of the Company. Those license agreements
are listed on Schedule 2.10 attached hereto.
The Companys employees have executed proprietary information and invention assignment
agreements in favor of the Company. The Company has executed consulting agreements with its
consultants and non-disclosure agreements with third parties.
From time to time university collaborators may be on the Companys premises conducting
research with the Companys chips. The Company typically does not enter into agreements relating
to these arrangements. The Company has entered into an agreement with a collaborator from Regents.
2.10(f)
See discussion in Sections 2.10(a), 2.10(b) and Section 2.10(e).
The Companys rights with respects to the research and development efforts of Steve Quake are
limited to those rights it has obtained through its licenses with Caltech described in Schedule
2.10 attached hereto and its consulting agreement with Steve Quake. As Dr. Quake has
transferred to Stanford University effective in early 2005, the Company negotiated with Caltech to
modify the Companys right to receive license rights from the Quake laboratory at Caltech. The
Company also has negotiated a Material Transfer Agreement with Stanford University to obtain, for a
limited term, license rights to certain inventions made by the Quake laboratory at Stanford
University and is in negotiations for additional such agreements. Dr. Quake has been appointed an
investigator by the Howard Hughes Medical Institute (HHMI). In connection with such appointment,
Dr. Quakes affiliation with the Company (including, without limitation, stock ownership and status
as a member of the Board of Directors of the Company) and the Companys rights to inventions from
the Quake laboratory at Stanford University and Caltech have been eliminated or substantially
curtailed. The Company has negotiated a new consulting agreement with Dr. Quake in accordance with
HHMI guidelines; such consulting agreement provides for certain guaranteed payments over a
multi-year time period. In addition, Dr. Quake has resigned from the Companys Board of Directors
and on June 5, 2006 the Company has repurchased 123,974 shares of Dr. Quakes Common Stock holding
in the Company to comport with HHMI guidelines.
2.10(h)
The Company notes that it has given the opportunity to the Purchasers to conduct any due
diligence investigation that such Purchasers deemed necessary and has provided each Purchaser with
all of the information that such Purchaser has requested.
2.11 Compliance with Other Instruments
See discussions in Section 2.10(a) regarding the Syrrx License Agreement and in Section
2.10(b).
2.12 Permits
The Companys subsidiary in Singapore has applied for various permits relating to the conduct
of business in Singapore, some of which may not been granted.
2.13 Environmental and Safety Laws
The Company has received the following environmental reports pertaining to property that the
Company leases.
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1. |
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ENVIRONMENTAL DUE DILIGENCE REVIEW OF THE SIERRA POINT ASSOCIATES
TWO PROPERTIES BRISBANE AND SOUTH SAN FRANCISCO, CALIFORNIA, dated February 4,
1998, prepared by ENVIRON Corporation, Emeryville, California |
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2. |
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UPDATE OF ENVIRONMENTAL DUE DILIGENCE REVIEW, PARCEL 10,
SHORELINE COURT, SIERRA POINT, SOUTH SAN FRANCISCO, CALIFORNIA, dated December
14, 1998, prepared by Harding Lawson Associates, Novato, California |
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3. |
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FIRST AMENDED AND RESTATED DECLARATION OF COVENANTS, CONDITIONS
AND ENVIRONMENTAL RESTRICTIONS RELATING TO ENVIRONMENTAL COMPLIANCE FOR SIERRA
POINT, dated August 5, 1999, recorded by Luce, Forward, Hamilton and Scripps,
San Diego, California |
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4. |
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SUPPLEMENTAL ENVIRONMENTAL DUE DILIGENCE, PARCEL 10, SHORELINE
COURT, SIERRA POINT, SOUTH SAN FRANCISCO, CALIFORNIA, dated August 24, 1999,
prepared by Harding Lawson Associates, Novato, California |
Each of the reports has been made available to the Purchasers. The Company has not
investigated any of the matters contained in the reports.
2.14 Title to Property and Assets
The Company and General Electric Capital Corporation (GECC) entered into a Master Security
Agreement (which was amended in February 2004), pursuant to which the Company has borrowed an
aggregate principal amount of $6,230,152 (out of an aggregate available under the Master Security
Agreement of $11,000,000) from GECC pursuant to the terms of the Master Security Agreement and
series of promissory notes. The loans relate to purchases of the Company of certain equipment and
software (subject to certain restrictions). The notes bear interest at rates between 8% and 9% per
annum and are repaid in periodic monthly installments over 42 months from the date of issuance of
each respective promissory note (except with respect to loans relating to computer equipment and
software, which must be paid over 36 months). The Companys obligations under the notes and Master
Security Agreement are secured by a lien on fixed assets financed with the loans. In addition,
Comerica Bank has issued a letter of credit in the amount of $500,000 for the benefit of GECC as
security for the loans, which is secured by a $500,000 cash account of the Companys at Comerica
Bank. As of September 30, 2007, the Company owed approximately $1,340,433 under the notes.
In March 2005, the Company and Lighthouse entered into a Loan and Security Agreement, a
Management Rights letter agreement, a Negative Pledge Agreement and certain other agreements
(collectively, the Lighthouse Agreements). Pursuant to the Lighthouse Agreements, the Company
has borrowed $13,000,000 from Lighthouse, $9,601,037 of which was outstanding as of September 30,
2007. The amounts loaned bear interest at the prime rate plus 2.5% and are to be repaid in 48
monthly installments from the execution date of March 2005. Pursuant to the Loan and Security
Agreement, the Company granted Lighthouse a lien on and security interest in all of the Companys
assets (subject to certain limited exceptions and excluding intellectual property rights (but not
proceeds from the sale thereof) as set forth in the Lighthouse Agreements). Pursuant to the
Negative Pledge Agreement, the Company is generally prohibited from transferring or encumbering
intellectual property and certain other assets. The Lighthouse Agreements contain various
affirmative and negative covenants of the
Company. In connection with the Lighthouse Agreements, the Company issued to Lighthouse a
warrant as described in Section 2.4 hereof. The Companys ability to pay amounts that may arise
under convertible promissory notes issued, or that may be issued, to BMSIF and Invus is limited
under the Lighthouse Agreements, and BMSIF and Invus entered into a Subordination Agreement with
Lighthouse (which limits their right to receive payment on the convertible promissory notes).
The Company has issued letters of credit of $250,000 and $137,527 for security deposits under
the subleases for its headquarters facility in South San Francisco, California (see Section
2.15(b)). In addition, the Company has issued a letter of credit for the benefit of GECC in the
amount of $500,000. These letters of credit are secured by cash accounts of the Company in those
amounts.
2.15 Agreements; Actions
2.15(a)
The Company has been a party to consulting agreements with Lincoln McBride, the Companys
former Chief Technology Officer and vice president of engineering, and Paul Wyatt, the Companys
former vice president of Topaz development and operations.
See 2.10(f) regarding Dr. Steve Quakes consulting agreements.
The Company has entered or intends to enter into indemnification agreements with each of the
Companys existing officers and directors.
The Company is a party to offer letters with each of its officers.
The Company has entered into agreements relating to confidentiality and assignment of
inventions with employees and enters into various agreements with employees of its subsidiaries
(including, without limitation, employment agreements) customary in the jurisdiction of
incorporation of the subsidiary.
The Company and/or a subsidiary of the Company have entered into agreements with third parties
relating to their service on the Board of Directors of subsidiaries of the Company (due to
requirements that a citizen of the place of incorporation of the subsidiary be a member of the
subsidiarys Board of Directors). Among other things, such agreements contain provisions relating
to indemnification.
The Company has entered into a letter agreement with Marc Unger, an employee, regarding Mr.
Ungers ownership of shares and options to purchase shares of the Companys Common Stock.
In connection with the October 2001 Series C Preferred Stock financing, the Company entered
into letter agreements with GE Equity Capital Investments, Inc., containing certain confidentiality
and indemnification provisions and with Piper Jaffray Healthcare Venture Fund III, L. P. providing
for certain matters with regard to the Small Business Investment Act.
In January 2004, the Company lent Gajus V. Worthington, the Companys Chief Executive Officer,
$250,000 to be used in connection with Mr. Worthingtons purchase of a residence. The loan bears
interest at a rate of 3.52% per annum and the principal and interest are not due and payable for 7
years after the date of the loan (or earlier upon the happening of certain events). The loan is
secured by 833,334 shares of the Companys Common Stock, which are the only recourse of the Company
in the event of a default under the loan. The number of shares of Common Stock that secure the
loan is
subject to reduction at Mr. Worthingtons election in the event that fair market value of the
Companys Common Stock (as determined by the Companys Board of Directors) exceeds the outstanding
principal and interest due under the loan.
See Sections 2.4 and 2.15(b) below relating to agreements with BMSIF.
2.15(b)
See Schedule 2.10 attached hereto and discussion in Section 2.10. Each of the
agreements described or listed on Schedule 2.10 or in Section 2.10 may involve payments or
obligations in excess of $100,000 and/or the license of proprietary rights.
See Section 2.14 regarding the GECC and Lighthouse loans.
In March 2004, the Company entered into a new sublease agreement with Genome Therapeutics
Corporation (now Oscient Pharmaceuticals) relating to a portion of the Companys headquarters in
South San Francisco, California. The term of the sublease expires in December 2007. The monthly
rental payments were approximately $70,000 per month between March 2004 through September 2004.
The monthly payments thereafter decreased to approximately $44,000 per month and increased
approximately 3.5% annually beginning January 2006. In addition to these amounts, the Company is
obligated to pay its share of common area maintenance and other costs and taxes.
In addition to the sublease agreement with Genome Therapeutics, the Company entered into a
second sublease in March 2004 with MJ Research, Inc. (subsequently assigned to Are-San Francisco
No. 17, LLC) relating to an additional portion of the Companys headquarters in South San
Francisco, California. The term of the sublease expires in December 2007. The monthly rental
payments were approximately $56,000 between April 2004 through December 2004. The monthly payments
thereafter increased to approximately $58,000 per month and further increase annually by
approximately 3.5% beginning in April 2005. In addition to these amounts, the Company is obligated
to pay its share of common area maintenance and other costs and taxes.
The Company has entered into negotiations to extend each of the above leases from January 2008
to February 2011.
The Company has entered into leases or subleases relating to its subsidiaries in Osaka, Japan,
Tokyo, Japan, Singapore and Hamburg, Germany, the last of which has terminated.
See Section 2.4, in particular with respect to the Company and BMSIF in conjunction with the
convertible notes.
In certain instances, the Company has agreed to indemnify purchasers of the Companys products
and certain of the Companys suppliers (such as Eppendorf AG) with respect to infringements of
proprietary rights.
2.15(e)
A limited number of the Companys employees hold corporate purchasing credit cards. The
Company is liable to the credit card company for the amounts charged.
2.15(f)
The Company has from time to time had discussions regarding mergers, acquisitions and sales of
all or substantially all of the assets of the Company.
2.16 Financial Statements
The Company has made available unaudited Financial Statements for the periods ended December
31, 2005 and December 31, 2006.
The unaudited Financial Statements do not contain the footnotes required by generally accepted
accounting principles and are subject to year-end audit adjustments.
2.17 Changes
Changes are reflected since December 31, 2007.
See Section 2.10 and Schedule 2.10 attached hereto.
The Company has entered into licenses of its intellectual property in the ordinary course of
business.
The Company may enter into a collaboration agreement related to the development of certain
specialized Dynamic Array chips for a third party that may involve revenue and liabilities in
excess of $100,000, such as for indemnification.
2.18 Brokers or Finders
The Company entered into an engagement letter with Leerink Swann & Company, dated August 13,
2007.
In June 2006, Fluidigm was the recipient of a Small Technology Transfer Innovation Research
(STTR) grant from the National Institutes of Health in the amount of $1,000,000 over two years.
Under the grant, the Company will perform research and development activities to design a
diffraction capable Topaz screening chip.
2.19 Qualified Small Business Stock
With respect to the qualification of the Shares as qualified small business stock under
Section 1202(c) of the Code, the Company makes the following representations, each as of the date
hereof: (a) the Company is a domestic C corporation, provided that the Company wholly owns non-U.S.
corporate subsidiaries; (b) the Companys gross assets have not exceeded $50 million in value at
any time through the time immediately following the issuance of the Shares within the meaning of
Section 1202(d); (c) the Company has not made any purchases of its own stock during the one-year
period preceding the Closing with an aggregate value exceeding 5% of the aggregate value of all its
stock as of the beginning of such period, disregarding de minimus redemptions within the meaning of
Treasury Regulation Section 1.1202-2(b)(2); (d) the Company is engaged in a qualified trade or
business as defined in Section 1202(e); and (e) 80% of the Companys assets are used in the active
conduct of that qualified trade or business.
2.20 Employee Benefit Plans
The Company offers health, vision and dental benefits, paid time off and sick leave.
The Companys subsidiaries are subject to certain statutory requirements in their jurisdiction
of incorporation relating to employee benefits. Such requirements differ from requirements in the
United States.
2.21 Tax Matters
The Companys subsidiaries in the Netherlands and Singapore have received extensions to file
tax returns in the respective countries.
2.24 Disclosure
The Company notes that it has given the opportunity to the Purchasers to conduct any due
diligence investigation that such Purchasers deemed necessary.
The Company has provided projections to certain Purchasers at their request. For purposes of
these projections, the Company has assumed, among other things, that the Company is granted tax
incentives and research and development grants in Singapore that are acceptable to the Company and
that the workforce to be employed at the Companys subsidiary in Singapore is capable of delivering
upon the Companys plans in Singapore. In addition, the Companys revenues were lower than the
Companys plan/forecasts. Moreover, actuals provided are currently under audit and subject to
revision. The Company is unable to predict with any certainty its revenue for any future period,
including the present quarter, and its ability to generate revenue is subject to risks and
uncertainties.
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
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Agreement Title |
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Date |
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Parties |
|
Purpose of Agreement |
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Payments |
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Other Information |
License Agreement
Amended and
Restated License
Agreement
First Amendment to
Amended and
Restated License
Agreement
Second Amended and
Restated License
Agreement
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May 1, 2000
Restatement Date of
June 1, 2002
Effective Date of
June 19, 2003
Effective Date May
1, 2004
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California
Institute of
Technology
(Licensor) and the
Company (Licensee)
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Exclusive license
of intellectual
property from
Licensor to the
Company
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The Company to pay
Licensor royalties
ranging from [***]% to
[***]% on sales of the
Company products
incorporating the
technology or other
transfers of the
technology.
Also, the Company can
include, on an annual
basis, certain new
inventions made by
the Licensor by
granting additional
stock to the
Licensor.
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The U.S. Government
and Licensor
retained certain
rights, including
the right to
practice the
underlying
inventions. With
respect to the
Licensor, such
rights are limited
to non-commercial
uses.
In an invention
licensed pursuant
to this License
Agreement relating
to certain protein
crystallization
technology in
microfluidics, a
University of
California
scientist, Dr.
James Berger, was
added as an
inventor to related
patent
applications.
Therefore, the
Regents of the
University of
California own
certain rights in
the invention,
which rights have
not been licensed
to the Company,
and, therefore, the
Companys ability
to practice and
license this
technology
internationally is
subject to certain
limitations. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
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Agreement Title |
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Date |
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Parties |
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Purpose of Agreement |
|
Payments |
|
Other Information |
Exclusive Patent
License Agreement
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November 2, 2000
Amended on July 12,
2001
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The Regents of the
University of
California
(Licensor) and the
Company (Licensee)
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Exclusive license
of intellectual
property from
Licensor to the
Company
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The Company to pay
Licensor [***]% royalty
on sales of the
Company products
incorporating the
technology.
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The Licensor and
the U.S. Government
retains certain
rights, including
the right to
practice the
underlying
inventions. With
respect to the
Licensor, such
rights are limited
to non-commercial
uses.
In addition, the
Company has agreed
to indemnify
Licensor for claims
arising out of the
agreement.
This Agreement has
been terminated. |
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Co-Exclusive
License Agreements
(a series totaling
3)
[reduced from 5]
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October 15, 2000
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President and
Fellows of Harvard
College (Licensor)
and the Company
(Licensee)
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Co-exclusive
license of
intellectual
property from
Licensor to the
Company
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The Company to pay
Licensor royalties
ranging from [***]% to
[***]% on sales of the
Company products
incorporating the
technology or other
transfers of the
technology.
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The Licensor and
the U.S. Government
retains certain
rights, including
the right to
practice the
underlying
inventions. With
respect to the
Licensor, such
rights are limited
to non-commercial
uses.
In addition, the
Company has agreed
to indemnify
Licensor for claims
arising out of the
series of
agreements. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
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Agreement Title |
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Date |
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Parties |
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Purpose of Agreement |
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Payments |
|
Other Information |
License Option
Agreement
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July 20, 2001
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Princeton
University and the
Company
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Grant of option to
Company to
negotiate a
royalty-bearing
license to certain
technologies in
exchange for paying
reasonable
associated patent
costs
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N/A
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The Company expects
that the U.S.
Government will
retain certain
rights, including
the right to
practice the
underlying
inventions.
The option period
has expired and the
Company has funded
certain
prosecution. The
Company did not
renew the option. |
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Agreement
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July 1, 2002
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Farmal LLC and the
Company
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Research Agreement
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See Other Information
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Farmal was to
conduct research at
Caltech within the
Companys field of
exclusivity under
its license
agreement with
Caltech. The
agreement contains
a license to the
Company of
intellectual
property resulting
from certain
aspects of the
research, but the
Company is
uncertain whether
any intellectual
property was
created. Farmal is
not presently
performing under
the agreement due
to its financial
condition and the
agreement has
terminated. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
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Agreement Title |
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Date |
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Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Supply Agreement
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December 3, 2001
Amended June 27,
2002
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GlaxoSmithKline and
the Company
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The Company has
supplied equipment
and chips to GSK
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The Company had
received payments in
exchange for chips
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The Company
provided certain
indemnities
(including relating
to the infringement
of proprietary
rights) to GSK
associated with the
product sales. |
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Development
Collaboration And
License Agreement
|
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September 22, 2003
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Glaxo Group Limited
and SmithKline
Beecham Corporation
(GSK) and the
Company
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A collaboration and
cross-licenses
agreement for the
development of
certain products,
which may be
commercialized by
the Company
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|
In addition to an
up-front stock grant,
the Company issued
warrants to GSK
exercisable upon
achievement of
certain milestones.
Also, the Company
agreed to pay
royalties on products
emanating from the
collaboration.
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The Company
provides certain
indemnities
(including relating
to the infringement
of proprietary
rights) to GSK
associated with
activities in
accordance with the
Agreement.
Discussions between
the Company and GSK
have begun to
ascertain milestone
achievement and
other matters. |
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Supply Agreement
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September 22, 2003
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GlaxoSmithKline
Research &
Development Limited
(GSK) and the
Company
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The Company has
supplied equipment
and chips to GSK
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GSK made an up-front
payment to the
Company for future
product orders.
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The Company
provides certain
indemnities to GSK
associated with the
product sales, as
well as a [***]
clause with respect
to infringement
indemnity in an
accompanying stock
purchase agreement. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
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|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
License Agreement
Amendment No. 1
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January 9, 2003
January 9, 2005
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Gyros AB and the
Company
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The Company
licensed
field-specific
patent rights from
Gyros
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In addition to annual
minimums and payments
to add licenses in
several fields, the
Company pays a [***]%
royalty on certain
products.
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The Company
provides certain
indemnities to
Gyros associated
with licensed
product sales. See
the disclosure in
Section 2.10(a) of
this Schedule of
Exceptions for a
further description
of the agreement. |
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Master Closing
Agreement
|
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March 7, 2003
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UAB Research
Foundation, Oculus
Pharmaceuticals,
Inc. and the
Company
|
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Relates to the
License Agreement
and Sponsored
Research Agreement
with UAB Research
Foundation
described below
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The Company issued
shares of its stock
to the UAB Research
Foundation in
connection with the
transaction and is
obligated to make
milestone payments of
stock and cash to UAB
Research Foundation
upon the happening of
certain events.
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See Section 3.10(a)
and 2.4 of this
Schedule of
Exceptions relating
to the Companys
agreements with UAB
Research Foundation
and Oculus. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
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|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
License Agreement
|
|
March 7, 2003
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UAB Research
Foundation
(Licensor) and the
Company
|
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The Company is
licensing certain
patent rights from
Licensor
|
|
When due, the Company
will make milestone
payments to Licensor
in stock in addition
to cash and stock
payments up-front.
|
|
The Licensor, the
U.S. Government and
a third party
retain certain
rights to practice
the underling
inventions with
respect to
Licensor, such
rights are limited
to non-commercial
uses.
In addition, the
Company has agreed
to indemnify
(including relating
to infringement of
proprietary rights)
Licensor under
certain conditions. |
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Sponsored Research
Agreement
|
|
March 7, 2003
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|
UAB Research
Foundation (UAB)
and the Company
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|
The Company funds
certain research at
UAB
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|
The Company makes
quarterly research
payments.
|
|
The Company has
rights to license
inventions
developed under the
funding. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
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|
|
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|
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|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Research License
Agreement
|
|
August 2, 2002
|
|
Vanderbilt
University
(University) and
the Company
|
|
The Company
sub-licensed the
University to
conduct research
under certain
Caltech
intellectual
property
|
|
The Company received
a license to certain
intellectual property
for research purposes
and was granted a
right of first
refusal on
improvements to the
intellectual property
it licensed to the
University (including
improvements to
chips). In the event
the Company exercises
its right of first
refusal, it will have
to pay certain
royalties and license
fees against a
credit.
|
|
The Company will
consider proposals
from the University
to commercialize
products developed
at the University.
The agreement had a
three-year term and
the parties are
discussing an
extension. |
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Material Transfer
Agreement
|
|
December 12, 2003
|
|
[***] |
|
The Company is
testing proprietary
materials
|
|
N/A
|
|
The Company has
agreed to indemnify
the material
provider under
certain conditions
and not to file for
patent protection
encompassing the
material in certain
areas. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
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|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
License Agreement
|
|
December 19, 2003
|
|
Syrrx, Inc. (Syrrx)
|
|
The Company
licensed certain
patent filings
assigned to Syrrx
and sublicensed
patent filings
assigned to the
Regents of
University of
California in a
specific field.
|
|
The Company granted
common stock to Syrrx
and makes annual
payments for three
years (then quarterly
thereafter), which
payments may be
reduced if the
Companys common
stock is traded on a
securities exchange
or through NASDAQ.
The Company also owes
royalties on the
license and
sublicense.
|
|
The Company
provides certain
indemnities to
Syrrx associated
with the license
and sublicense. |
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Development
Agreement
|
|
June 23, 2004
|
|
In-Q-Tel and the
Company
|
|
The Company
provides defined
services and
deliverables in
accordance with a
statement of work;
and the parties (as
well as the U.S.
Government) agreed
to make licenses
available to
certain IP rights
on a limited basis.
|
|
The Company receives
payments based on
completion of the
project.
|
|
The Company has
agreed to indemnify
In-Q-Tel for
certain claims
arising under the
agreement.
Standard U.S.
Government rights
and license clauses
are included. |
|
|
|
|
|
|
|
|
|
|
|
Development
Agreement
|
|
September 30, 2005
|
|
In-Q-Tel and the
Company
|
|
The Company
provides defined
services and
deliverables in
accordance with a
statement of work;
and the parties (as
well as the U.S.
Government) agreed
to make licenses
available to
certain IP rights
on a limited basis.
|
|
The Company receives
payments based on
completion of the
project.
|
|
The Company has
agreed to indemnify
In-Q-Tel for
certain claims
arising under the
agreement.
Standard U.S.
Government rights
and license clauses
are included. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Development
Agreement
|
|
October 1, 2007
|
|
In-Q-Tel and the
Company
|
|
The Company
provides defined
services and
deliverables in
accordance with a
statement of work;
and the parties (as
well as the U.S.
Government) agreed
to make licenses
available to
certain IP rights
on a limited basis.
|
|
The Company receives
payments based on
completion of the
project.
|
|
The Company has
agreed to indemnify
In-Q-Tel for
certain claims
arising under the
agreement.
Standard U.S.
Government rights
and license clauses
are included. |
|
|
|
|
|
|
|
|
|
|
|
Collaboration
Agreement
|
|
January 24, 2005
|
|
CTI Molecular Imaging, Inc. and
the Company
|
|
The Company
provides defined
services and
deliverables in the
PET field in
accordance with a
Work Plan under
development, as
well as a
manufacturing
option to CTI under
certain Fluidigm
IP. Also, the
parties
cross-licensed each
other on certain
past and future IP.
|
|
The Company received
an upfront payment,
an option payment if
exercised, and
royalties on certain
products.
|
|
The Company has
agreed to indemnify
CTI for certain
claims arising from
the Agreement. |
|
|
|
|
|
|
|
|
|
|
|
Standard User
Agreement
Non-Proprietary
|
|
|
|
The Regents of the
University of
California for LBNL
and the Company
|
|
The Company is
permitted to use
certain LBNL
facilities to
conduct
experiments.
|
|
N/A
|
|
The Company has
agreed to indemnify
LBNL for certain
claims arising
under the
agreement.
Standard U.S.
Government rights
and license clauses
are included. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Work for Others
Agreement
Amendment
|
|
January 6, 2005
February 4, 2005
|
|
The Regents of the
University of
California for LBNL
(DOE Contractor) and
the Company
|
|
The Company is a Sponsor of federal grants,
under which the Contractor is to perform
certain research in accordance with a
Statement of Work.
|
|
N/A
|
|
The Company has agreed to indemnify the
DOE Contractor and the U.S. Government
under certain product liability,
intellectual property and general
liability provisions. Standard U.S.
Government rights and license clauses are
included. |
|
|
|
|
|
|
|
|
|
|
|
Work for Others
Agreement
|
|
November 15, 2006
|
|
|
|
|
|
|
|
The Agreement has been extended to
December 31, 2006, and another similar
Agreement extended into, as noted. |
|
|
|
|
|
|
|
|
|
|
|
Industry-University
Cooperative Research
Program UC Discovery
Grant Research Agreement
|
|
February 1, 2007
|
|
The Regents of the
University of
California (UC) and
the Company
|
|
UC and the Company are collaborating on
certain research specified in a joint
proposal.
|
|
The Company makes bi-monthly
payments and provides in-kind
contributions of Company
products.
|
|
The Company has agreed to indemnify UC
under certain circumstances against
liability, loss or expense. |
|
|
|
|
|
|
|
|
|
|
|
Evaluation Agreement
|
|
November 16, 2004
|
|
[***]
Pharmaceuticals,
Inc. and the
Company
|
|
[***] to evaluate certain
Company products as specified
in a Work Plan.
|
|
[***] to make a
payment for the
evaluation period.
|
|
The Company has
agreed to indemnify
[***] for
certain claims
arising under the
agreement. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Material Transfer
and Evaluation
Agreement
|
|
September 24, 2004
|
|
[***], Inc. and
the Company
|
|
Company to receive certain
biological materials from
[***] and use the materials
with Company products in
accordance with a research
plan. The parties agreed on
ownership rights for certain
inventions made when conducting
the research, as well as
associated assignment
requirements.
|
|
N/A
|
|
The Company has
agreed to indemnify
[***] for certain
claims arising under
this agreement. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
July 18, 2005
|
|
Board of Trustees
of the Leland
Stanford Junior
University and the
Company
|
|
Company to provide certain
prototype microfluidic chips to
the Quake laboratory at
Stanford University for use in
specified research programs.
The parties agreed on handling
license rights to inventions
generated under the agreement.
|
|
The Company receives
payments for chips
provided to the Quake
lab (under separate
invoice).
|
|
The agreement expires
August 31, 2005. |
|
|
|
|
|
|
|
|
|
|
|
Equipment Loan
|
|
January 11, 2006
|
|
Board of Trustees
of the Leland
Stanford Junior
University and the
Company
|
|
Company loaned certain
equipment to the laboratory of
Dr. Steve Quake.
|
|
N/A
|
|
The Company shall
have no right to
inventions made with
the loaned equipment. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
March 31, 2006
|
|
[***] and the Company
|
|
[***] to evaluate assay results
run by Company on certain
prototype-chips.
|
|
[***] to pay the Company
for certain work done
under this Agreement.
|
|
[***] and the Company
agreed not to file
for patent protection
using the other
partys confidential
information. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Material Transfer
and Evaluation
Agreement
|
|
March 29, 2006
|
|
[***] and the
Company
|
|
[***] to provide proteins for
crystallization in certain
Company prototype chips. The
parties agreed on handling
invention ownership and license
rights arising under the
Agreement.
|
|
N/A
|
|
The Company and [***]
have agreed to
cross-indemnify each
other for certain
claims arising under
the Agreement. |
|
|
|
|
|
|
|
|
|
|
|
Distribution
Agreement (and
Sublicense)
|
|
April 1, 2005
|
|
Eppendorf
Deutschland and the
Company
|
|
Company to distribute
thermalcyclers incorporated in
the BioMark reader.
|
|
The Company makes
minimum product
purchases based on
Company estimates.
|
|
The Company provides
certain indemnities
(including certain
product liability,
intellectual
property, and general
liability) to
Eppendorf associated
with the distribution
and sublicense. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
March 30, 2006
|
|
[***] and the
Company
|
|
Company and [***] to
explore contract manufacturing
opportunities.
|
|
N/A
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
Microfluidics
Customer Sample
Agreement
|
|
March 10, 2006
November 8, 2006
|
|
[***] and
the Company
|
|
Company to test certain
material from [***].
|
|
N/A
|
|
The Company has
agreed to indemnify
specified
universities for
certain claims
arising under this
Agreement. The
Company assigns to
[***] certain
improvement invention
made under this
Material Transfer
Agreement. Under
the Sample Agreement,
the Company and [***] agree to not
file IP concerning
the sample material. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Bioautomation
Development Program
Terms of Business
|
|
September 23, 2005
November 10, 2005
January 24, 2006
|
|
[***]
and the Company
|
|
[***] is developing certain
Company instrumentation
products.
|
|
The Company makes
regular payments
based on work at
[***].
|
|
The Company provides
certain indemnities
to [***]. |
|
|
|
|
|
|
|
|
|
|
|
Letter of Intent
Amendment No. 1
|
|
May 1, 2006
December 7, 2006
|
|
[***] and the
Company
|
|
Company to assist [***] in
evaluating certain Company
products for possible
collaboration.
|
|
[***] makes regular
payments to the
Company
|
|
The Company has
agreed to not enter
certain exclusive
agreements with third
parties during the
amended term of the
LOI. |
|
|
|
|
|
|
|
|
|
|
|
Collaboration
Agreement
|
|
June 1, 2006
|
|
The Regents of the
University of
California (UCSF)
and the Company
|
|
A collaboration regarding
certain Company products.
|
|
N/A
|
|
The University and
the Company agreed to
certain
cross-indemnification
provisions. Under
the Agreement, the
Company will be
provided an option to
license certain
developed technology. |
|
|
|
|
|
|
|
|
|
|
|
Technology
Evaluation and
Services Agreement
|
|
August 25, 2006
|
|
[***] Inc. and the
Company
|
|
[***] is evaluating certain
Company products.
|
|
N/A
|
|
[***] and the Company
agreed to certain
cross-indemnification
provisions and
division of right to
any new intellectual
property rights
arising under the
Agreement. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Material Transfer
Agreement
|
|
October 5, 2006
|
|
MedImmune, Inc.
|
|
MedImmune is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify, MedImmune
for certain
activities associated
with the evaluation
and the Company
agrees to assign
certain developed
technology. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement for
Transfers to
Companies
|
|
November 16, 2006
|
|
University of
Washington and Howard Hughes Medical Institute
and the Company
|
|
The University is evaluating
certain Company products.
|
|
N/A
|
|
Company agreed to
indemnify University
for certain
activities relating
to the Agreement. |
|
|
|
|
|
|
|
|
|
|
|
Materials and
Information
Transfer Agreement
|
|
November 22, 2006
|
|
[***],
Inc. and the
Company
|
|
[***] is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify [***] for
certain activities
relating to the
evaluation and the
parties agreed to
divide rights to any
new intellectual
property arising
under the Agreement |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
December 7, 2006
|
|
Fred Hutchinson
Cancer Research
Center and the
Company
|
|
FHCRC and the Company are
collaborating to evaluate
certain Company products.
|
|
N/A
|
|
Company agreed to
indemnify FHCRC for
certain activities
associated with the
Collaboration and
FHCRC agrees to give
Company an option to
certain developed
technology. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
March 15, 2007
|
|
[***], Inc.
|
|
[***] is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify, [***]
for certain
activities associated
with the evaluation
and the Company may
assign certain
developed technology. |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Material Transfer
Agreement
|
|
May 9, 2007
|
|
Myriad Genetics
|
|
Myriad is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify, Myriad for
certain activities
associated with the
evaluation and the
Company may assign
certain developed
technology. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
May 20, 2007
|
|
[***]
|
|
[***] is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify, [***]
for certain
activities associated
with the evaluation
and the Company may
assign certain
developed technology. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
June 6, 2007
|
|
[***]
|
|
[***] is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify, [***] for
certain activities
associated with the
evaluation and the
Company may assign
certain developed
technology. |
|
|
|
|
|
|
|
|
|
|
|
Material Transfer
Agreement
|
|
September 3, 2007
|
|
[***]
|
|
[***] is evaluating certain
Company products.
|
|
N/A
|
|
Company agreed to
indemnify, [***]
for certain
activities associated
with the evaluation
and the Company may
assign certain
developed technology. |
|
|
|
|
|
|
|
|
|
|
|
Study Agreement
|
|
January 2, 2007
|
|
Merck & Co., Inc.
|
|
Merck is providing samples to
the Company for testing Company
products.
|
|
N/A
|
|
Company agrees to
assign certain
inventions to Merck
related to the
samples. |
|
|
|
|
|
|
|
|
|
|
|
Evaluation Agreement
|
|
March 12, 2007
|
|
[***]
|
|
[***] to evaluate certain
Company products.
|
|
N/A
|
|
N/A |
SCHEDULE 2.10
FLUIDIGM CORPORATION
AGREEMENTS
October 2007
|
|
|
|
|
|
|
|
|
|
|
Agreement Title |
|
Date |
|
Parties |
|
Purpose of Agreement |
|
Payments |
|
Other Information |
Exclusive
Distribution
Agreement
|
|
May 31, 2007
|
|
Bioke
|
|
Exclusive Distribution Agreement
|
|
N/A
|
|
Each party
indemnifies the other
party with respect to
certain acts. |
|
|
|
|
|
|
|
|
|
|
|
Exclusive Sales
Representative
Agreement
|
|
June 1, 2007
|
|
Fuentes Bono
Negocios
Tecnologicos S.L.
|
|
Exclusive Sales Representative
|
|
The Company to pay
[***] commission of the
[***] for
each Fluidigm Product
that is sold and
shipped to a
Designated End-User
during the term of
Agreement.
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
Development
Agreement
|
|
October 1, 2007
|
|
In-Q-Tel and the
Company
|
|
The Company provides defined
services and deliverables in
accordance with a statement of
work; and the parties (as well
as the U.S. Government) agreed
to make licenses available to
certain IP rights on a limited
basis.
|
|
The Company receives
payments based on
completion of the
project.
|
|
The Company has
agreed to indemnify
In-Q-Tel for certain
claims arising under
the agreement.
Standard U.S.
Government rights and
license clauses are
included. |
|
|
|
|
|
|
|
|
|
|
|
Intellectual
Property Agreement
|
|
May 11, 2007
|
|
Helicos
BioSciences, Inc.
and California
Institute of
Technology
|
|
The agreement confirms and
clarifies intellectual property
rights licensed to Helicos and
the Company by Caltech.
|
|
N/A
|
|
See Section 2.10(b)
of Schedule of
Exceptions. |
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-1-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-2-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-3-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-4-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-5-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-6-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-7-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-8-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
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[***]
-9-
Schedule 2.10 Patents
|
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Case No. |
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[***]
-10-
Schedule 2.10 Patents
|
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Case No. |
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Client Case # |
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Title |
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[***]
-11-
Schedule 2.10 Patents
|
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Case No. |
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Client Case # |
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Title |
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[***]
-12-
Schedule 2.10 Patents
|
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Case No. |
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Client Case # |
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Title |
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[***]
-13-
Schedule 2.10 Patents
|
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Case No. |
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Assignee/Licensor |
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Client Case # |
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Title |
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Inventor Names |
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[***]
-14-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
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Client Case # |
|
Title |
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|
Inventor Names |
|
Status |
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[***]
-15-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
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Client Case # |
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Title |
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Country |
|
Inventor Names |
|
Status |
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[***]
-16-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
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Client Case # |
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Title |
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Country |
|
Inventor Names |
|
Status |
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[***]
-17-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
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Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
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[***]
-18-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
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|
[***]
-19-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
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|
[***]
-20-
Schedule 2.10 Patents
|
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|
|
Case No. |
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
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|
[***]
-21
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
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|
|
[***]
-22-
Schedule 2.10 Patents
|
|
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|
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|
|
Case No. |
|
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
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|
|
[***]
-23
Schedule 2.10 Patents
|
|
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|
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|
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|
|
|
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|
|
Case No. |
|
|
|
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|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-24-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
|
|
|
|
|
|
|
|
|
|
[***]
-25-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
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|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***] |
|
|
|
|
|
|
|
|
|
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***] |
|
|
|
|
|
|
|
|
|
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***] |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm
|
|
[***]
|
|
Microfluidic Apparatus Having a Vaporizer and Method of Using Same
|
|
EPO
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm
|
|
[***]
|
|
Microfluidic Apparatus Having a Vaporizer and Method of Using Same
|
|
Japan
|
|
Nelson, James
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm
|
|
[***]
|
|
MICROFLUIDIC APPARATUS HAVING A VAPORIZER AND METHOD OF USING SAME
|
|
PCT
|
|
Nelson, James
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm
|
|
[***]
|
|
Microfluidic apparatus having a vaporizer and method of using same
|
|
US
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm)
|
|
[***]
|
|
Microfluidic Apparatus and Method
|
|
United Kingdom
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
Singapore
|
|
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
[***]
|
|
[***]
|
|
|
|
[***] |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
DRUG DELIVERY SYSTEM
|
|
US
|
|
Nat, Avtar
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
DRUG DELIVERY SYSTEM
|
|
US
|
|
Nat, Avtar
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
A MICROFLUIDIC DESIGN AUTOMATION METHOD AND SYSTEM
|
|
PCT
|
|
Lee, Michael
Worthington, Gajus
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
A MICROFLUIDIC DESIGN AUTOMATION METHOD AND SYSTEM
|
|
US
|
|
Lee, Michael
Worthington, Gajus
Harris, Greg
Montgomery, James
|
|
Issued |
-26-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
Fluidigm Corporation
|
|
[***]
|
|
A MICROFLUIDIC DESIGN AUTOMATION METHOD AND SYSTEM
|
|
US
|
|
Lee , Michael
Worthington, Gajus
Harris, Greg
Montgomery, James
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
A COMPUTER AIDED DESIGN METHOD AND SYSTEM FOR DEVELOPING A MICROFLUIDIC SYSTEM
|
|
US
|
|
Lee , Michael
Worthington, Gajus
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
A COMPUTER AIDED DESIGN METHOD AND SYSTEM FOR DEVELOPING A MICROFLUIDIC SYSTEM
|
|
US
|
|
Lee , Michael
Worthington, Gajus
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
COMPUTER AIDED DESIGN METHOD AND SYSTEM FOR DEVELOPING A MICROFLUIDIC SYSTEM
|
|
US
|
|
Harris , Greg
Montgomery, James
Lee, Michael
Worthington, Gajus
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
COMPUTER AIDED DESIGN METHOD AND SYSTEM FOR DEVELOPING A MICROFLUIDIC SYSTEM
|
|
US
|
|
Harris , Greg
Montgomery, James
Lee, Michael
Worthington, Gajus
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
BIOLOGICAL DESIGN AUTOMATION SYSTEM
|
|
US
|
|
Lee , Michael
Worthington, Gajus
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC-BASED ELECTROSPRAY SOURCE FOR ANALYTICAL DEVICES
|
|
PCT
|
|
Manger , Ian David
Hao, Cunsheng (Casey)
Unger, Marc
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC-BASED ELECTROSPRAY SOURCE FOR ANALYTICAL DEVICES
|
|
US
|
|
Manger , Ian David
Hao, Cunsheng (Casey)
Unger, Marc
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES FOR INTRODUCING AND DISPENSING FLUIDS FROM MICROFLUIDIC SYSTEMS
|
|
EPO
|
|
Unger , Marc
Chou, Hou-Pu
Manger, Ian David
Fernandez, Dave
Yi, Yong
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES FOR INTRODUCING AND DISPENSING FLUIDS FROM MICROFLUIDIC SYSTEMS
|
|
PCT
|
|
Unger , Marc
Chou, Hou-Pu
Manger, Ian David
Fernandez, Dave
|
|
Done |
-27-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES FOR INTRODUCING AND DISPENSING FLUIDS FROM MICROFLUIDIC SYSTEMS
|
|
US
|
|
Unger , Marc
Chou, Hou-Pu
Manger, Ian David
Fernandez, Dave
Yi, Yong
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES FOR INTRODUCING AND DISPENSING FLUIDS FROM MICROFLUIDIC SYSTEMS
|
|
US
|
|
Unger , Marc
Chou, Hou-Pu
Manger, Ian David
Fernandez, Dave
Yi, Yong
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES FOR INTRODUCING AND DISPENSING FLUIDS FROM MICROFLUIDIC SYSTEMS
|
|
US
|
|
Unger , Marc
Chou, Hou-Pu
Manger, Ian David
Fernandez, Dave
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC CHROMATOGRAPHY
|
|
US
|
|
Huang , Jiang
Chou, Hou-Pu
Unger, Marc
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Chromatograhpy
|
|
US
|
|
Huang , Jiang
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC CHROMATOGRAPHY
|
|
US
|
|
Huang , Jiang
Chou, Hou-Pu
Unger, Marc
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
EPO
|
|
Huang , Jiang
Xiao, Shaoujun
Unger, Marc
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
Japan
|
|
Huang , Jiang
Xiao, Shaoujun
Unger, Marc
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
PCT
|
|
Huang , Jiang
Xiao, Shaoujun
Unger, Marc
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
US
|
|
Huang , Jiang
Xiao, Shaoujun
Unger, Marc
|
|
Issued |
-28-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
US
|
|
Huang , Jiang
|
|
Pending |
|
|
|
|
|
|
|
|
Xiao, Shaoujun |
|
|
|
|
|
|
|
|
|
|
Unger, Marc |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
EPO
|
|
Huang , Jiang
|
|
New |
|
|
|
|
|
|
|
|
Xiao, Shaoujun |
|
|
|
|
|
|
|
|
|
|
Unger, Marc |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
POLYMER SURFACE MODIFICATION
|
|
US
|
|
Huang , Jiang
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Particle Analysis Systems
|
|
Australia
|
|
Chou , Hou-Pu
|
|
Pending |
|
|
|
|
|
|
|
|
Daridon, Antoine |
|
|
|
|
|
|
|
|
|
|
Farrell, Kevin |
|
|
|
|
|
|
|
|
|
|
Fowler, Brian |
|
|
|
|
|
|
|
|
|
|
Hao, Cunsheng (Casey) |
|
|
|
|
|
|
|
|
|
|
Javadi, Shervin |
|
|
|
|
|
|
|
|
|
|
Liau, Yish-Hann |
|
|
|
|
|
|
|
|
|
|
Manger, Ian David |
|
|
|
|
|
|
|
|
|
|
Nassef, Hany Ramez |
|
|
|
|
|
|
|
|
|
|
Norton, Pierce |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Particle Analysis Systems
|
|
EPO
|
|
Chou , Hou-Pu
|
|
Pending |
|
|
|
|
|
|
|
|
Daridon, Antoine |
|
|
|
|
|
|
|
|
|
|
Farrell, Kevin |
|
|
|
|
|
|
|
|
|
|
Fowler, Brian |
|
|
|
|
|
|
|
|
|
|
Hao, Cunsheng (Casey) |
|
|
|
|
|
|
|
|
|
|
Javadi, Shervin |
|
|
|
|
|
|
|
|
|
|
Liau, Yish-Hann |
|
|
|
|
|
|
|
|
|
|
Manger, Ian David |
|
|
|
|
|
|
|
|
|
|
Nassef, Hany Ramez |
|
|
|
|
|
|
|
|
|
|
Norton, Pierce |
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-BASED SYSTEMS
|
|
Japan
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
-29-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-BASED SYSTEMS
|
|
PCT
|
|
Chou , Hou-Pu
|
|
Done |
|
|
|
|
|
|
|
|
Daridon, Antoine |
|
|
|
|
|
|
|
|
|
|
Farrell, Kevin |
|
|
|
|
|
|
|
|
|
|
Fowler, Brian |
|
|
|
|
|
|
|
|
|
|
Hao, Cunsheng (Casey) |
|
|
|
|
|
|
|
|
|
|
Javadi, Shervin |
|
|
|
|
|
|
|
|
|
|
Liau, Yish-Hann |
|
|
|
|
|
|
|
|
|
|
Manger, Ian David |
|
|
|
|
|
|
|
|
|
|
Nassef, Hany Ramez |
|
|
|
|
|
|
|
|
|
|
Norton, Pierce |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-ANALYSIS SYSTEMS
|
|
US
|
|
Chou , Hou-Pu
|
|
Allowed |
|
|
|
|
|
|
|
|
Daridon, Antoine |
|
|
|
|
|
|
|
|
|
|
Farrell, Kevin |
|
|
|
|
|
|
|
|
|
|
Fowler, Brian |
|
|
|
|
|
|
|
|
|
|
Liau, Yish-Hann |
|
|
|
|
|
|
|
|
|
|
Manger, Ian David |
|
|
|
|
|
|
|
|
|
|
Nassef, Hany Ramez |
|
|
|
|
|
|
|
|
|
|
Throndset, William |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-ANALYSIS SYSTEMS
|
|
US
|
|
Chou , Hou-Pu
|
|
Pending |
|
|
|
|
|
|
|
|
Daridon, Antoine |
|
|
|
|
|
|
|
|
|
|
Farrell, Kevin |
|
|
|
|
|
|
|
|
|
|
Fowler, Brian |
|
|
|
|
|
|
|
|
|
|
Liau, Yish-Hann |
|
|
|
|
|
|
|
|
|
|
Manger, Ian David |
|
|
|
|
|
|
|
|
|
|
Nassef, Hany Ramez |
|
|
|
|
|
|
|
|
|
|
Throndset, William |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-ANALYSIS SYSTEMS
|
|
US
|
|
Daridon , Antoine
|
|
Pending |
-30-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-ANALYSIS SYSTEMS
|
|
US
|
|
Chou , Hou-Pu Daridon, Antoine Farrell, Kevin Fowler, Brian Hao, Cunsheng (Casey) Javadi, Shervin Liau,
Yish-Hann Manger, Ian David Nassef, Hany Ramez Norton, Pierce
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC PARTICLE-ANALYSIS SYSTEMS
|
|
US
|
|
Chou , Hou-Pu Daridon, Antoine Farrell, Kevin Fowler, Brian Hao, Cunsheng (Casey) Javadi, Shervin Liau,
Yish-Hann Manger, Ian David Nassef, Hany Ramez Norton, Pierce
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
Switzerland and Liechtens
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
Germany
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
EPO
|
|
Fernandez , Dave Chou, Hou-Pu Unger, Marc
|
|
Granted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
France
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
United Kingdom
|
|
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
Ireland
|
|
|
|
Pending |
-31-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
PCT
|
|
Fernandez , Dave Chou, Hou-Pu
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
US
|
|
Fernandez , Dave Chou, Hou-Pu Unger, Marc
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfabricated Fluidic Circuit Elements and Applications
|
|
US
|
|
Fernandez , Dave Chou, Hou-Pu Unger, Marc
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
EPO
|
|
Fernandez , Dave Chou, Hou-Pu Unger, Marc
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfabricated Fluidic Circuit Elements and Applications
|
|
US
|
|
Fernandez , Dave Chou, Hou-Pu Unger, Marc
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFABRICATED FLUIDIC CIRCUIT ELEMENTS AND APPLICATIONS
|
|
US
|
|
Fernandez , Dave Chou, Hou-Pu
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
FLUIDIC TAPER ICON FOR A DISPLAY SCREEN
|
|
US
|
|
Lee , Michael Yi, Yong
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
FLUIDIC ROTARY MIXER SQUARE ICON FOR A DISPLAY SCREEN
|
|
US
|
|
LEE , MICHAEL YI, YONG
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
FLUIDIC BRIDGE ICON FOR A DISPLAY SCREEN
|
|
US
|
|
Lee , Michael Yi, Yong
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
ELECTROSTATIC/ELECTROSTRICTIVE ACTUATION OF ELASTOMER STRUCTURES USING COMPLIANT ELECTRODES
|
|
US
|
|
Unger , Marc
|
|
Issued |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
ELECTROSTATIC/ELECTROSTRICTIVE ACTUATION OF ELASTOMER STRUCTURES USING COMPLIANT ELECTRODES
|
|
US
|
|
Unger , Marc
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
ELECTROSTRICTIVE ACTUATION OF ELASTOMER STRUCTURES USING COMPLIANT ELECTRODES
|
|
US
|
|
Unger , Marc
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHODS AND DEVICES FOR ELECTRONIC AND MAGNETIC SENSING OF THE CONTENTS OF MICROFLUIDIC FLOW CHANNELS
|
|
US
|
|
Nassef , Hany Ramez Unger, Marc Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHODS AND DEVICES FOR ELECTRONIC AND MAGNETIC SENSING OF THE CONTENTS OF MICROFLUIDIC FLOW CHANNELS
|
|
US
|
|
Nassef , Hany Ramez Unger, Marc Facer, Geoffrey
|
|
Converted |
-32-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
HIGH THROUGHPUT PCR
|
|
US
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Device and Methods of Using Same
|
|
Australia
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
Canada
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
Yi, Yong
Miyashita-Lin, Emily
Weinecke, Anja
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Device and Methods of Using Same
|
|
EPO
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Device and Methods of Using Same
|
|
Japan
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
PCT
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
Yi, Yong
Miyashita-Lin, Emily
Weinecke, Anja
Facer, Geoffrey
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Device and Methods of Using Same
|
|
Singapore
|
|
|
|
Granted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
US
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
Yi, Yong
Miyashita-Lin, Emily
Weinecke, Anja
Facer, Geoffrey
|
|
Issued |
-33-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
US
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
Yi, Yong
Miyashita-Lin, Emily
Weinecke, Anja
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
US
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
Yi, Yong
Miyashita-Lin, Emily
Weinecke, Anja
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
US
|
|
Unger , Marc
Manger, Ian David
Lucero, Michael
Yi, Yong
Miyashita-Lin, Emily
Weinecke, Anja
Facer, Geoffrey
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
RECIRCULATING FLUIDIC NETWORK AND METHODS FOR USING THE SAME
|
|
US
|
|
Manger , Ian David
Barco, Joseph W.
Nassef, Hany Ramez
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Recirculating Fluidic Network and Methods for Using the Same
|
|
US
|
|
Manger , Ian David
Barco, Joseph W.
Nassef, Hany Ramez
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Recirculating Fluidic Network and Methods for Using the Same
|
|
Japan
|
|
Manger , Ian David
Barco, Joseph W.
Nassef, Hany Ramez
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
RECIRCULATING FLUIDIC NETWORK AND METHODS FOR USING THE SAME
|
|
PCT
|
|
Manger , Ian David
Barco, Joseph W.
Nassef, Hany Ramez
|
|
Done |
-34-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
RECIRCULATING FLUIDIC NETWORK AND
METHODS FOR USING THE SAME
|
|
US
|
|
Manger , Ian David
Barco, Joseph W.
Nassef, Hany Ramez
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
Australia
|
|
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
Canada
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
EPO
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
Japan
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
Singapore
|
|
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
US
|
|
McBride , Lincoln
Unger, Marc
Lucero, Michael
Nassef, Hany Ramez
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND METHODS OF USING SAME
|
|
US
|
|
Unger , Marc
Huang, Jiang
Quan, Emerson
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using The Same
|
|
US
|
|
Goodsaid , Federico
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
PCT
|
|
Unger , Marc
McBride, Lincoln
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
US
|
|
Unger , Marc
McBride, Lincoln
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE AND METHODS OF USING SAME
|
|
PCT
|
|
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Device and Methods of Using Same
|
|
US
|
|
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Growth Devices and Systems, and Methods for
Using Same
|
|
EPO
|
|
Nassef , Hany Ramez
Barco, Joseph W.
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTAL GROWTH DEVICES AND SYSTEMS,
AND METHODS FOR USING SAME
|
|
PCT
|
|
Nassef , Hany Ramez
Barco, Joseph W.
Facer, Geoffrey
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTAL GROWTH DEVICES AND SYSTEMS,
AND METHODS FOR USING SAME
|
|
US
|
|
Nassef , Hany Ramez
Barco, Joseph W.
Facer, Geoffrey
|
|
Pending |
-35-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTAL GROWING DEVICES AND METHODS
FOR USING THE
SAME
|
|
US
|
|
Nassef , Hany Ramez
Barco, Joseph W.
Facer, Geoffrey
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTAL GROWTH DEVICES AND METHODS FOR USING THE SAME
|
|
US
|
|
Nassef , Hany Ramez
Barco, Joseph W.
Facer, Geoffrey
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTAL GROWTH DEVICES AND METHODS FOR USING THE SAME
|
|
US
|
|
Nassef , Hany Ramez
Barco, Joseph W.
Facer, Geoffrey
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR MICROFLUIDIC
DEVICE AND IMAGING THEREOF
|
|
Australia
|
|
Quan , Emerson
Taylor, Colin J.
Lee, Michael
Ceasar, Christopher
Harris, Greg
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR MICROFLUIDIC
DEVICE AND IMAGING THEREOF
|
|
Canada
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR MICROFLUIDIC
DEVICE AND IMAGING THEREOF
|
|
EPO
|
|
Quan , Emerson
Taylor, Colin J.
Lee, Michael
Ceasar, Christopher
Harris, Greg
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR MICROFLUIDIC
DEVICE AND IMAGING THEREOF
|
|
Japan
|
|
Quan , Emerson
Taylor, Colin J.
Lee, Michael
Ceasar, Christopher
Harris, Greg
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR MICROFLUIDIC
DEVICE AND IMAGING THEREOF
|
|
PCT
|
|
Quan , Emerson
Taylor, Colin J.
Lee, Michael
Ceasar, Christopher
Harris, Greg
|
|
Done |
-36-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR MICROFLUIDIC DEVICE AND IMAGING THEREOF
|
|
US
|
|
Quan , Emerson
Taylor, Colin J.
Lee, Michael
Ceasar, Christopher
Harris, Greg
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTAL GROWTH IMAGING SYSTEM AND METHODS FOR USING THE SAME
|
|
US
|
|
Lee , Michael
Taylor, Colin J.
Ceasar, Christopher
Harris, Greg
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Processing Method and System for Microfluidic Devices
|
|
Australia
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Processing Method and System for Microfluidic Devices
|
|
Europe
|
|
Taylor , Colin J.
Sun, Gang
Dube, Simant
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Processing Method and System for Microfluidic Devices
|
|
Japan
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Processing Method and System for Microfluidic Devices
|
|
PCT
|
|
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Processing Method and System for Microfluidic Devices
|
|
Singapore
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Processing Method and System for Microfluidic Devices
|
|
US
|
|
Taylor , Colin J.
Sun, Gang
Dube, Simant
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
IMAGE PROCESSING METHOD AND SYSTEM FOR MICROFLUIDIC DEVICES
|
|
US
|
|
Taylor , Colin J.
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICE INCLUDING FIDUCIAL MARKINGS METHOD AND SUBSTRATE
|
|
US
|
|
Quan , Emerson
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
IMAGE CAPTURING METHOD AND SYSTEM FOR MICROFLUIDIC DEVICES
|
|
US
|
|
Taylor , Colin J.
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
DEVICES AND METHODS FOR HOLDING MICROFLUIDIC DEVICES
|
|
US
|
|
Nassef , Hany Ramez
Facer, Geoffrey
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
DEVICES AND METHODS FOR HOLDING MICROFLUIDIC DEVICES
|
|
US
|
|
Nassef , Hany Ramez
Facer, Geoffrey
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
Australia
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
China
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
EPO
|
|
Unger , Marc
Grossman, Robert
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
Japan
|
|
|
|
Pending |
-37-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
Mexico
|
|
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
PCT
|
|
Unger , Marc
Grossman, Robert
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Crystal Forming Devices and Systems and Methods for Using the Same
|
|
Singapore
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND SYSTEMS AND METHODS FOR USING THE SAME
|
|
US
|
|
Unger , Marc
Grossman, Robert
Lam, Phillip
Chou, Hou-Pu
Kimball, Jake
Pieprzyk, Martin
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
INTEGRATED CHIP CARRIERS WITH
THERMOCYCLER INTERFACES AND METHODS OF USING THE SAME
|
|
US
|
|
Facer , Geoffrey
Grossman, Robert
Unger, Marc
Lam, Phillip
Chou, Hou-Pu
Kimball, Jake
Pieprzyk, Martin
Daridon, Antoine
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
INTEGRATED CHIP CARRIERS WITH
THERMOCYCLER INTERFACES AND METHODS OF USING THE SAME
|
|
US
|
|
Facer , Geoffrey
Grossman, Robert
Unger, Marc
Lam, Phillip
Chou, Hou-Pu
Kimball, Jake
Pieprzyk, Martin
Daridon, Antoine
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
China
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
EPO
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
Japan
|
|
|
|
Pending |
-38-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
Thermal Reaction Device and Method for Using the Same
|
|
PCT
|
|
Unger , Marc
Grossman, Robert
Lam, Phillip
Chou, Hou-Pu
Kimball, Jake
Pieprzyk, Martin
Daridon, Antoine
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND SYSTEMS AND METHODS FOR USING THE SAME
|
|
US
|
|
Unger , Marc
Grossman, Robert
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND SYSTEMS AND METHODS FOR USING THE SAME
|
|
US
|
|
Unger , Marc
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES AND SYSTEMS AND METHODS FOR USING THE SAME
|
|
US
|
|
Unger , Marc
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR FABRICATING VIA STRUCTURES FOR FLUIDIC MICROCHIPS
|
|
US
|
|
Unger , Marc
Chou, Hou-Pu
Clerkson, Barry
Halderman, Jonathan
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
METHOD AND SYSTEM FOR FABRICATING VIA STRUCTURES FOR
FLUIDIC MICROCHIPS
|
|
US
|
|
Unger , Marc
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTALLIZATION SCALE-UP METHODS AND SYSTEMS FOR
PERFORMING THE SAME
|
|
US
|
|
May , Andrew
Nassef, Hany Ramez
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
CRYSTALLIZATION SCALE-UP METHODS AND SYSTEMS FOR
PERFORMING THE SAME
|
|
US
|
|
Nassef , Hany Ramez
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
China
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
EPO
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
Japan
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
PCT
|
|
|
|
Done |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
Singapore
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
US
|
|
Unger , Marc
Facer, Geoffrey
Clerkson, Barry
Ceasar, Christopher
Switz, Neil
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Optical Lens System and Method for Microfluidic Devices
|
|
US
|
|
Unger , Marc
|
|
Converted |
-39-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
Via Valve for Creation of 3-D Control Lines
|
|
US
|
|
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Devices, Compositions, and Methods Used for
Manufacturing Microfluidic Devices
|
|
US
|
|
Fowler , Brian
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Analysis Using Microfluidic Partitioning Devices
|
|
PCT
|
|
Heid , Christian A.
Daridon, Antoine
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Analysis Using Microfluidic Partitioning Devices
|
|
US
|
|
Heid , Christian A.
Daridon, Antoine
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Systems for Crystallizing Molecules
|
|
US
|
|
Sun , Gang
|
|
New |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
ANALYSIS ENGINE AND DATABASE FOR MANIPULATING
PARAMETERS FOR FLUIDIC SYSTEMS ON A CHIP
|
|
PCT
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
ANALYSIS ENGINE AND DATABASE FOR MANIPULATING
PARAMETERS FOR FLUIDIC SYSTEMS ON A CHIP
|
|
US
|
|
Sun , Gang
Harris, Greg
May, Andrew
Self, Kyle
Farrell, Kevin
Wyatt, Paul
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
ANALYSIS ENGINE AND DATABASE FOR MANIPULATING
PARAMETERS FOR FLUIDIC SYSTEMS ON A CHIP
|
|
US
|
|
Sun , Gang
Harris, Greg
May, Andrew
Self, Kyle
Farrell, Kevin
Wyatt, Paul
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC ASSAY DEVICES AND METHODS
|
|
PCT
|
|
Nassef , Hany Ramez
Chou, Hou-Pu
Lucero, Michael
May, Andrew
Yokobata, Kathy
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC ASSAY DEVICES AND METHODS
|
|
US
|
|
Nassef , Hany Ramez
Chou, Hou-Pu
Lucero, Michael
May, Andrew
Yokobata, Kathy
|
|
Pending |
-40-
Schedule 2.10 Patents
|
|
|
|
|
|
|
|
|
|
|
|
|
Case No. |
|
|
|
|
|
|
|
|
Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC DEVICES FOR PERFORMING IMMUNOLOGICAL ASSAYS
|
|
US
|
|
Nassef , Hany Ramez
Lucero, Michael
Manger, Ian David
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
DEVICES AND METHODS FOR MICROFLUIDIC CHROMATOGRAPHY
|
|
US
|
|
Daridon , Antoine
Huang, Jiang
Phi, Oai
May, Andrew
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
FLUIDIC DEVICES HAVING ELASTOMERIC VALVES AND METHODS FOR MANUFACTURING SUCH DEVICES
|
|
US
|
|
Cohen , David
May, Andrew
Fowler, Brian
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
FLUIDIC DEVICES HAVING ELASTOMERIC VALVES AND METHODS FOR MANUFACTURING SUCH DEVICES
|
|
US
|
|
Cohen , David
May, Andrew
Fowler, Brian
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC REACTION APPARATUS FOR HIGH THROUGHPUT SCREENING
|
|
US
|
|
Jones , Robert
Wyatt, Paul
Daridon, Antoine
Wang, Jing
May, Andrew
Cohen, David
|
|
Pending |
|
|
|
|
|
|
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|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
MICROFLUIDIC REACTION APPARATUS FOR HIGH THROUGHPUT SCREENING
|
|
US
|
|
Jones , Robert
Wyatt, Paul
Daridon, Antoine
|
|
Converted |
|
|
|
|
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|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Assay Methods
|
|
US
|
|
Lucero , Michael
Unger, Marc
|
|
Pending |
|
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|
|
|
|
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|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Assay Methods
|
|
US
|
|
Lucero , Michael
Unger, Marc
|
|
Converted |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Image Analysis System for Microfluidic Devices
|
|
US
|
|
Dube , Simant
Sun, Gang
Zhao, Lian-She
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Microfluidic Check Valves
|
|
US
|
|
Wang , Jing
Nassef, Hany Ramez
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
Method and Apparatus for Biological Sample Analysis
|
|
US
|
|
Sun , Gang
Jones, Robert
Ramakrishnan, Ramesh
|
|
Pending |
-41-
Schedule 2.10 Patents
|
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Case No. |
|
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Assignee/Licensor |
|
Client Case # |
|
Title |
|
Country |
|
Inventor Names |
|
Status |
|
Fluidigm Corporation
|
|
[***]
|
|
High Efficiency and high Precision Microfluidic Devices and Methods
|
|
US
|
|
Cohen , David
Wang, Jing
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
Fluidigm Corporation
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***]
|
|
[***] |
|
|
|
|
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Fluidigm Corporation
|
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[***]
|
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[***]
|
|
[***]
|
|
[***] |
|
[***] |
|
|
|
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|
|
|
|
|
Fluidigm Corporation
|
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[***]
|
|
[***] |
|
[***]
|
|
[***]
|
|
[***] |
|
|
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[***]
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[***]
|
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[***]
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[***]
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|
[***]
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[***] |
|
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[***]
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[***]
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[***]
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[***]
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[***]
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[***] |
|
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[***]
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[***]
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[***]
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[***]
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[***]
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[***] |
|
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[***]
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[***]
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[***]
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[***]
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[***]
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[***] |
|
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[***]
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[***]
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[***]
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[***]
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[***]
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[***] |
|
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[***]
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[***]
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[***]
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[***]
|
|
[***]
|
|
[***] |
-42-
Schedule 2.10 Patents
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Case No. |
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[***]
-43-
Schedule 2.10 Patents
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Case No. |
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[***]
-44-
Schedule 2.10 Patents
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Case No. |
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[***]
-45
Schedule 2.10 Patents
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Case No. |
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[***]
-46-
Schedule 2.10 Patents
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Case No. |
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[***]
-47-
Schedule 2.10 Patents
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Case No. |
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[***]
-48-
Schedule 2.10 Patents
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Case No. |
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[***]
-49-
Schedule 2.10 Patents
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Case No. |
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[***]
-50-
Schedule 2.10 Patents
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Case No. |
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[***]
-51-
Schedule 2.10 Patents
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Case No. |
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[***]
-52-
Schedule 2.10 Patents
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Case No. |
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[***]
-53-
EXHIBIT D
FORM OF EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
FLUIDIGM CORPORATION
FORM
OF
EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
June 13, 2006
TABLE OF CONTENTS
|
|
|
|
|
|
|
|
|
|
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|
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|
|
Page |
SECTION 1 Restrictions on Transferability; Registration Rights |
|
|
1 |
|
|
|
1.1 |
|
Certain Definitions |
|
|
1 |
|
|
|
1.2 |
|
Restrictions |
|
|
4 |
|
|
|
1.3 |
|
Restrictive Legend |
|
|
5 |
|
|
|
1.4 |
|
Notice of Proposed Transfers |
|
|
5 |
|
|
|
1.5 |
|
Requested Registration |
|
|
6 |
|
|
|
1.6 |
|
Company Registration |
|
|
8 |
|
|
|
1.7 |
|
Registration on Form S-3 |
|
|
9 |
|
|
|
1.8 |
|
Expenses of Registration |
|
|
10 |
|
|
|
1.9 |
|
Registration Procedures |
|
|
10 |
|
|
|
1.10 |
|
Indemnification |
|
|
12 |
|
|
|
1.11 |
|
Information by Holder |
|
|
14 |
|
|
|
1.12 |
|
Reports Under Securities Exchange Act of 1934 |
|
|
14 |
|
|
|
1.13 |
|
Transfer of Registration Rights |
|
|
15 |
|
|
|
1.14 |
|
Standoff Agreement |
|
|
15 |
|
|
|
1.15 |
|
No Right to Delay Registration |
|
|
16 |
|
|
|
1.16 |
|
Termination of Rights |
|
|
16 |
|
|
|
1.17 |
|
Limitations on Subsequent Registration Rights |
|
|
16 |
|
SECTION 2 Affirmative Covenants of the Company |
|
|
16 |
|
|
|
2.1 |
|
Delivery of Financial Statements |
|
|
17 |
|
|
|
2.2 |
|
Additional Information Rights |
|
|
17 |
|
|
|
2.3 |
|
Confidentiality |
|
|
18 |
|
|
|
2.4 |
|
Visitation Rights |
|
|
18 |
|
|
|
2.5 |
|
Stock Option Vesting |
|
|
18 |
|
|
|
2.6 |
|
Insurance |
|
|
18 |
|
|
|
2.7 |
|
Proprietary Information Agreements |
|
|
19 |
|
|
|
2.8 |
|
Invention Assignments |
|
|
19 |
|
|
|
2.9 |
|
Key-Man Life Insurance |
|
|
19 |
|
|
|
2.10 |
|
Compliance with Laws |
|
|
19 |
|
|
|
2.11 |
|
Termination of Covenants |
|
|
19 |
|
SECTION 3 Right of First Offer For Company Securities |
|
|
19 |
|
|
|
3.1 |
|
Right of First Offer |
|
|
19 |
|
|
|
3.2 |
|
Sale of Securities by Company |
|
|
20 |
|
|
|
3.3 |
|
Offer Amount |
|
|
20 |
|
|
|
3.4 |
|
Financing |
|
|
20 |
|
|
|
3.5 |
|
Termination of Right of First Offer |
|
|
21 |
|
SECTION 4 Right of First Offer with Respect to Founder Shares |
|
|
22 |
|
|
|
4.1 |
|
Notice of Sales |
|
|
22 |
|
-i-
TABLE OF CONTENTS
(continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Page |
|
|
4.2 |
|
Purchase Right |
|
|
22 |
|
|
|
4.3 |
|
Sale of Securities by Founder |
|
|
23 |
|
|
|
4.4 |
|
Termination and Transfer |
|
|
23 |
|
|
|
4.5 |
|
Prohibited Transfer |
|
|
23 |
|
SECTION 5 Right of Co-Sale |
|
|
23 |
|
|
|
5.1 |
|
Notice of Sales |
|
|
23 |
|
|
|
5.2 |
|
Participation Right |
|
|
24 |
|
|
|
5.3 |
|
Sale of Securities by Founder |
|
|
25 |
|
|
|
5.4 |
|
Termination and Transfer |
|
|
25 |
|
|
|
5.5 |
|
Prohibited Transfers |
|
|
25 |
|
SECTION 6 Miscellaneous |
|
|
26 |
|
|
|
6.1 |
|
Governing Law; Jurisdiction |
|
|
26 |
|
|
|
6.2 |
|
Successors and Assigns |
|
|
26 |
|
|
|
6.3 |
|
Notices, Etc |
|
|
26 |
|
|
|
6.4 |
|
Delays or Omissions |
|
|
27 |
|
|
|
6.5 |
|
Third Parties |
|
|
27 |
|
|
|
6.6 |
|
Severability |
|
|
27 |
|
|
|
6.7 |
|
Amendment and Waiver |
|
|
27 |
|
|
|
6.8 |
|
Rights of Holders |
|
|
28 |
|
|
|
6.9 |
|
Counterparts |
|
|
28 |
|
|
|
6.10 |
|
Titles and Subtitles |
|
|
28 |
|
|
|
6.11 |
|
Amendment and Restatement of Prior Agreement |
|
|
28 |
|
|
|
6.12 |
|
Waiver of Right of First Offer |
|
|
28 |
|
|
|
6.13 |
|
Aggregation of Stock |
|
|
28 |
|
|
|
6.14 |
|
Jury Trial |
|
|
29 |
|
-ii-
EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
THIS EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the Agreement) is entered into
as of June , 2006 by and among Fluidigm Corporation, a California corporation (the Company),
the persons set forth on EXHIBIT A hereto (the New Investors), the persons set forth on
the Schedule of Founders attached hereto as EXHIBIT B (the Founders), and the persons set
forth on EXHIBIT C hereto (the Prior Investors). The Prior Investors and the New
Investors are referred to herein collectively as the Investors.
RECITALS
WHEREAS, the Company and the New Investors have entered into a Series E Preferred Stock
Purchase Agreement of even date herewith (the Purchase Agreement) pursuant to which the Company
shall sell, and the New Investors shall acquire, shares of the Companys Series E Preferred Stock;
WHEREAS, the Company has granted certain registration rights and other rights to the Founders
and the Prior Investors pursuant to that certain Seventh Amended and Restated Investor Rights
Agreement dated August 16, 2005 (the Prior Agreement); and
WHEREAS, as an inducement to the New Investors to purchase shares of the Companys Series E
Preferred Stock pursuant to the Purchase Agreement, the Company, the Prior Investors and the
Founders desire to amend and restate the Prior Agreement to allow the New Investors to become a
party to this Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter set forth,
the parties agree as follows:
SECTION 1
Restrictions on Transferability; Registration Rights
1.1 Certain Definitions. As used in this Agreement, the following terms shall have
the following meanings:
Affiliate shall have the meaning set forth in Rule 405 of the Securities Act;
provided that for AllianceBernstein L.P. and its permitted transferees, the
definition of Affiliate shall also include (i) any general partner, officer or director of such
person, (ii) any private equity or venture capital fund now or hereafter existing (a Fund) for
which such person or an Affiliate of such person is a general partner or management company, and
(iii) if such person is a Fund, any other Fund that is directly or indirectly controlled by or
under common control with one or more general partners of such person, or that shares the same
management company with such person or an Affiliated management company.
Commission shall mean the Securities and Exchange Commission or any other federal agency at
the time administering the Securities Act.
Eligible Securities shall mean (i) the Series A Preferred Stock issued pursuant to the
Series A Preferred Stock Purchase Agreement dated December 1, 1999; (ii) the Series B Preferred
Stock issued pursuant to the Series B Preferred Stock Purchase Agreement dated July 5, 2000; (iii)
the Series C Preferred Stock issued pursuant to the Series C Preferred Stock Purchase Agreement
dated October 23, 2001; (iv) the Series C Preferred Stock issued pursuant to the Series C Preferred
Stock Purchase Agreement dated November 1, 2002; (v) the Series C Preferred Stock issued pursuant
to the Series C Preferred Stock and Warrant Purchase Agreement dated September 22, 2003; (vi) the
Series D Preferred Stock issued pursuant to the Series D Preferred Stock Purchase Agreement dated
December 18, 2003; (vii) the Series D Preferred Stock issued pursuant to the Series D Preferred
Stock Purchase Agreement dated August 16, 2005; (viii) the Series D Preferred Stock issued upon
conversion of convertible promissory note(s) issued pursuant to the Convertible Promissory Note
Purchase Agreement (the CNPA) dated December 18, 2003, as amended by Amendment No. 1 to
Convertible Note Purchase Agreement dated December 17, 2004, between the Company and Biomedical
Sciences Investment Fund Pte Ltd (the BMSIF); (ix) the Series D Preferred Stock issued upon
conversion of convertible promissory note(s) issued in connection with the Convertible Note
Agreement (the CNA) dated December 18, 2003, between the Company and Invus, L.P. (the Invus);
(x) the Series E Preferred Stock issued pursuant to the Purchase Agreement; (xi) all Securities
acquired by any Investor pursuant to the rights of first offer described in Sections 3 or 4 of this
Agreement; and (xii) any Securities issued with respect to the foregoing upon any stock split,
stock dividend, recapitalization, or similar event or upon any exercise or conversion, as
applicable.
Exchange Act shall mean the Securities Exchange Act of 1934, as amended, or any similar
federal statute, and the rules and regulations of the Commission thereunder, all as the same shall
be in effect at the time.
Founders Shares shall mean the shares of Common Stock of the Company issued to the Founders
as of the date of this Agreement or at any time in the future.
Holder shall mean (i) any Investor and any person to whom registration rights under this
Agreement have been transferred in accordance with Section 1.13 hereof, (ii) for the purposes of
Section 1.6 (and other portions of this Section 1, to the extent they relate to rights of
registration under Section 1.6), any Founder or holder of Other Shares and (iii) for the purposes
of Sections 1.5, 1.6 and 1.7 (and other portions of this Section 1, to the extent they relate to
rights of registration under Sections 1.5, 1.6 and 1.7), Warrantholders.
Initial Public Offering shall mean the first sale of Securities of the Company pursuant to
an effective registration statement under the Securities Act.
Initiating Holders shall mean Holders who in the aggregate hold a majority of the
Registrable Securities then held by Holders assuming conversion or exercise, as applicable, of all
Eligible Securities.
-2-
Lighthouse Preferred Warrant shall mean the Preferred Stock Purchase Warrant dated March 29,
2005, pursuant to which Lighthouse Capital Partners V, L.P. (Lighthouse) may purchase shares of
the Companys authorized Series D Preferred Stock.
Other Shares shall mean the shares of Common Stock of the Company issued pursuant to the
Common Stock Purchase Agreements dated July 17, 2001 and February 2005 by and between the Company
and President and Fellows of Harvard College.
Permitted Transferee shall mean (i) any general partner or retired general partner of any
Holder which is a partnership; (ii) any family member of a Holder or trust for the benefit of any
individual Holder; (iii) any Investor; (iv) an Affiliate of an Investor; or (v) any transferee who
acquires at least 40,000 shares of Eligible Securities.
The terms register, registered and registration refer to a registration effected by
preparing and filing a registration statement in compliance with the Securities Act, and the
declaration or ordering of the effectiveness of such registration statement.
Registration Expenses shall mean all expenses incurred by the Company in complying with
Sections 1.5, 1.6 and 1.7 hereof, including, without limitation, all registration, qualification,
stock exchange and filing fees, printing expenses, escrow fees, fees and disbursements of counsel
for the Company and accountants and other persons retained by or for the Company (including the
fees of one counsel for the Holders, not to exceed $25,000), blue sky fees and expenses, accounting
fees and the expense of any special audits incident to or required by any such registration (but
excluding the compensation of regular employees of the Company which shall be paid in any event by
the Company).
Registrable Securities means (i) any shares of Common Stock which are Eligible Securities,
(ii) any shares of Common Stock issuable upon the exercise or conversion, as applicable, of
Eligible Securities, (iii) for the purposes of Section 1.6 (and other portions of this Section 1,
to the extent they relate to rights of registration under Section 1.6) any shares of Common Stock
which are Founder Shares or Other Shares, and (iv) for the purposes of Sections 1.5, 1.6 and 1.7
(and other portions of this Section 1, to the extent they relate to rights of registration under
Sections 1.5, 1.6 and 1.7) any shares of Common Stock which are Warrant Shares; provided,
however, that shares of Common Stock shall be treated as Registrable Securities only if and
so long as they have not been (A) sold to or through a broker or dealer or underwriter in a public
distribution or a public securities transaction, (B) sold in a transaction exempt from the
registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof
so that all transfer restrictions and restrictive legends with respect thereto are removed upon the
consummation of such sale or (C) sold in a transaction in which the rights granted under this
Section 1 are not assigned in accordance with this Agreement.
Restricted Securities shall mean the securities of the Company required to bear the legends
set forth in Section 1.3 hereof.
-3-
Securities shall mean shares of, or securities convertible into or exercisable for any
shares of, any class of capital stock of the Company.
Securities Act shall mean the Securities Act of 1933, as amended, or any similar federal
statute and the rules and regulations of the Commission thereunder, all as the same shall be in
effect at the time.
Selling Expenses shall mean all underwriting discounts and selling commissions and
applicable to the securities registered by the Holders and any fees and disbursements of counsel
for the Holders not included in the definition of Registration Expenses.
Voting Agreement shall mean the Second Amended and Restated Voting Agreement dated August
16, 2005 among the Company and certain stockholders of the Company.
Warrant Shares shall mean the shares of Common Stock of the Company issued or issuable upon
conversion of the (i) Series C Preferred Stock issued or issuable upon exercise or conversion of
(A) the warrant to purchase up to 17,500 shares of Series C Preferred Stock issued to TBCC Funding
Trust II (TBCC) pursuant to the Master Loan and Security Agreement dated March 27, 2002 by and
between the Company and Transamerica Technology Finance Corporation; (B) the warrant to purchase
up to 31,008 shares of Series C Preferred Stock issued to General Electric Capital Corporation (GE
Capital) in connection with the Master Security Agreement dated as of November 8, 2002, as amended
(the Master Security Agreement) by and between the Company and GE Capital; (C) the warrants to
purchase an aggregate of up to 90,000 shares of Series C Preferred Stock issued to Glaxo Group
Limited (GGL) in connection with the Development Collaboration and License Agreement dated
September 22, 2003 (the License Agreement); and (D) the warrants to purchase an aggregate of up
to 110,000 shares of Series C Preferred Stock issued to SmithKline Beecham Corporation (SBC) in
connection with the License Agreement; and (ii) the Series D Preferred Stock issued or issuable
upon exercise or conversion of (A) the warrant to purchase up to 37,500 shares of Series D
Preferred Stock dated March 18, 2004 and issued to GE Capital in connection with extensions of
credit to the Company; (B) the warrant to purchase up to 380,556 shares of Series D Preferred Stock
dated June 30, 2004 and issued to In-Q-Tel, Inc. (In-Q-Tel); (C) the Lighthouse Preferred
Warrant; and (D) the warrant to purchase up to 126,851 shares of Series D Preferred Stock dated
June 30, 2004 and issued to In-Q-Tel Employee Fund, LLC (Employee Fund) . GGL, SBC, TBCC, GE
Capital, In-Q-Tel, Employee Fund, and Lighthouse are collectively referred to herein as
Warrantholders.
Worthington Shares shall mean the Founder Shares issued to Gajus Worthington.
1.2 Restrictions. No Restricted Securities shall be sold, assigned, transferred or
pledged except upon the conditions specified in this Agreement. Each Holder will cause any
proposed purchaser, assignee, transferee or pledgee of its Restricted Securities to agree in
writing to
take and hold such securities subject to the provisions and upon the conditions specified in
this Agreement, including, without limitation, Section 1.14, except where such Restricted
Securities would cease to be Restricted Securities in connection with such proposed purchase,
assignment, transfer or pledge.
-4-
1.3 Restrictive Legend. Each certificate representing Registrable Securities shall
(unless otherwise permitted by the provisions of Section 1.4 below) be stamped or otherwise
imprinted with a legend in the following form (in addition to any legend required under applicable
state securities laws):
THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
SECURITIES ACT). SUCH SHARES MAY NOT BE SOLD, TRANSFERRED OR PLEDGED IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL
(WHICH MAY BE COUNSEL FOR THE COMPANY), OR OTHER EVIDENCE, REASONABLY ACCEPTABLE TO
IT STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS
DELIVERY REQUIREMENTS OF THE SECURITIES ACT.
THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE
WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF
WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.
THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A MARKET STAND-OFF
AGREEMENT IN THE EVENT OF A PUBLIC OFFERING, A COPY OF WHICH IS ON FILE WITH THE
SECRETARY OF THE COMPANY.
Each Holder consents to the Company making a notation on its records and giving instructions
to any transfer agent of the Restricted Securities in order to implement the restrictions on
transfer established in this Section 1.
1.4 Notice of Proposed Transfers. Each Holder of each certificate representing
Restricted Securities, by acceptance thereof, agrees to comply in all respects with the
restrictions on transfer contained in Sections 1.2, 1.3, 1.4 and 1.14 of this Agreement. Solely
for purposes of the foregoing sentence and for the sake of clarification, the term Holder shall
also include and the term Restricted Securities shall also apply to any Founder, holder of Other
Shares or Warrantholders. Prior to any proposed sale, assignment, transfer or pledge of any
Restricted Securities (other than any transfer not involving a change in beneficial ownership),
unless there is in effect a registration statement under the Securities Act covering the proposed
transfer, the Holder thereof shall give written notice to the Company of such Holders intention to
effect such transfer, sale, assignment or
pledge. Each such notice shall describe the manner and circumstances of the proposed
transfer, sale, assignment or pledge in sufficient detail, and shall be accompanied at such
Holders expense by either (i) a written opinion of legal counsel who shall, and whose legal
opinion shall be, reasonably satisfactory to the Company, addressed to the Company, to the effect
that the proposed transfer of the Restricted Securities may be effected without registration under
the Securities Act and applicable state securities laws, or (ii) a no action letter from the
Commission
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to the effect that the transfer of such securities without registration will not result
in a recommendation by the staff of the Commission that action be taken with respect thereto, or
(iii) any other evidence reasonably satisfactory to counsel to the Company, whereupon the Holder of
such Restricted Securities shall be entitled to transfer such Restricted Securities in accordance
with the terms of the notice delivered by the Holder to the Company; provided,
however, that no such legal opinion, no action letter or other evidence shall be required
with respect to a transfer to an Affiliate. Each certificate evidencing the Restricted Securities
transferred as above provided shall bear, except if such transfer is made pursuant to Rule 144, the
appropriate restrictive legend set forth in Section 1.3 above, except that such certificate shall
not bear such restrictive legend if, in the opinion of counsel for such Holder and reasonably
acceptable to the Company, such legend is not required in order to establish compliance with any
provisions of the Securities Act or this Agreement.
1.5 Requested Registration.
(a) Request for Registration. In case the Company shall receive from Initiating
Holders a written request that the Company effect any registration with respect to a public
offering of at least 50% of the Registrable Securities, the reasonably anticipated aggregate price
to the public of which, net of underwriting discounts and commissions, would exceed $20,000,000,
the Company will:
(i) promptly give written notice of the proposed registration to all other Holders; and
(ii) use its best efforts to effect as soon as practicable such registration (including,
without limitation, the execution of an undertaking to file post-effective amendments, appropriate
qualification under applicable blue sky or other state securities laws and appropriate compliance
with applicable regulations issued under the Securities Act and any other governmental requirements
or regulations) as may be so requested and as would permit or facilitate the sale and distribution
of all or such portion of such Registrable Securities as are specified in such request, together
with all or such portion of the Registrable Securities of any Holder or Holders joining in such
request as are specified in a written request received by the Company within 15 days after receipt
of the written notice from the Company; provided, however, that the Company shall
not be obligated to take any action to effect any such registration pursuant to this Section 1.5:
(1) Prior to six months following the closing of the Companys Initial Public Offering;
(2) During the period starting with the date 60 days prior to the Companys estimated date of
filing of, and ending on the date three months immediately following the effective date of, any
registration statement (other than a registration of Securities in a Rule 145 transaction or with
respect to an employee benefit plan) pertaining to Securities of the Company (subject to Section
1.6(a) hereof), provided that the Company is actively employing in good faith all reasonable
efforts to cause such registration statement to be filed and become effective and that the Company
provides the Initiating Holders written notice of its intent to file such
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registration statement
within 30 days of receiving the request for registration from the Initiating Holders and provided
further, however, that the Company may not utilize this right more than once in any 12-month
period.
(3) After the Company has effected two registrations pursuant to this Section 1.5; or
(4) If the Company shall furnish to such Holders a certificate, signed by the President of the
Company, stating that in the good faith judgment of the Board of Directors it would be seriously
detrimental to the Company or its shareholders for a registration statement to be filed in the near
future, in which case the Companys obligation to use its best efforts to register under this
Section 1.5 shall be deferred for a period not to exceed 90 days from the date of receipt of
written request from the Initiating Holders; provided, however, that the Company may not utilize
this right more than once in any 12-month period.
(b) Underwriting. If the Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company
as part of their request made under Section 1.5(a), and the Company shall so advise the Holders as
part of the notice given pursuant to Section 1.5(a)(i). The right of any Holder to registration
pursuant to Section 1.5 shall be conditioned upon such Holders participation in the underwriting
arrangements required by this Section 1.5 and the inclusion of such Holders Registrable Securities
in the underwriting, to the extent requested and provided herein.
The Company shall (together with all Holders proposing to distribute their securities through
such underwriting) enter into an underwriting agreement in customary form with the managing
underwriter selected for such underwriting by the Company and a majority of the Holders.
Notwithstanding any other provision of this Section 1.5, if the managing underwriter advises the
Company in writing that marketing factors require a limitation of the number of shares to be
underwritten, then the Company shall so advise all Holders of Registrable Securities who indicated
their intent to participate in the registration in a timely manner, and the number of shares of
Registrable Securities that may be included in the registration and underwriting shall be allocated
among such Holders in proportion, as nearly as practicable, to the respective number of Registrable
Securities held by such Holders at the time of filing the registration statement, provided,
however, that the number of shares of Registrable Securities to be included in such
underwriting shall not be reduced unless all Worthington Shares, all Other Shares and all other
Securities that are not Registrable Securities (other than Securities to be sold for the account of
the Company) are first
entirely excluded from the underwriting. No Registrable Securities excluded from the
underwriting by reason of the underwriters marketing limitation shall be included in such
registration. To facilitate the allocation of shares in accordance with the above provisions, the
Company or the underwriters may round the number of shares allocated to any Holder to the nearest
100 shares.
If any Holder of Registrable Securities disapproves of the terms of the underwriting, such
person may elect to withdraw therefrom by written notice to the Company, the managing underwriter
and the Initiating Holders. The Registrable Securities so withdrawn shall also be withdrawn from
registration.
-7-
1.6 Company Registration.
(a) Notice of Registration. If at any time or from time to time, the Company shall
determine to register any Common Stock, either for its own account or the account of a security
holder or holders other than (i) a registration relating to employee benefit plans, (ii) a
registration relating to the offer and sale of debt securities, (iii) a registration relating to a
Commission Rule 145 transaction, or (iv) a registration pursuant to Sections 1.5 or 1.7 hereof, the
Company will:
(i) promptly give to each Holder written notice thereof; and
(ii) include in such registration (and any related qualification under blue sky laws or other
compliance), and in any underwriting involved therein, all the Registrable Securities specified in
a written request or requests made within 15 days after receipt of such written notice from the
Company by any Holder.
(b) Underwriting. If the registration of which the Company gives notice is for a
registered public offering involving an underwriting, the Company shall so advise the Holders in a
written notice given pursuant to this Section 1.6. In such event, the right of any Holder to
registration pursuant to this Section 1.6 shall be conditioned upon such Holders participation in
such underwriting and the inclusion of Registrable Securities in the underwriting to the extent
provided herein.
All Holders proposing to distribute their securities through such underwriting shall (together
with the Company and the other holders distributing their securities through such underwriting)
enter into an underwriting agreement in customary form with the managing underwriter selected for
such underwriting by the Company. Notwithstanding any other provision of this Section 1.6, if the
managing underwriter advises the Company in writing that marketing factors require a limitation of
the number of shares to be underwritten, then the Company shall so advise all Holders of
Registrable Securities and the number of shares of Registrable Securities that may be included in
the registration and underwriting shall be allocated among all Holders thereof in proportion, as
nearly as practicable, to the respective number of Registrable Securities held by such Holders at
the time of filing the registration statement; provided, however, that, no
Registrable Securities shall be excluded until all Worthington Shares, all Other Shares and all
other Securities that are not Registrable Securities
(other than Securities to be sold for the account of the Company) are first excluded, and
provided further, that, except in the case of the Companys Initial Public Offering
(where Registrable Securities may be excluded entirely), the number of Registrable Securities
included in such underwriting shall not be reduced below 25% of the total number of shares in the
underwriting. No Registrable Securities excluded from the underwriting by reason of the
underwriters marketing limitation shall be included in such registration. To facilitate the
allocation of shares in accordance with the above provisions, the Company or the underwriters may
round the number of shares allocated to any Holder to the nearest 100 shares. The Company may
include shares of Common Stock held by shareholders other than Holders in a registration statement
pursuant to this Section 1.6 to the extent that the amount of Registrable Securities otherwise
includible in such registration statement would not thereby be diminished.
-8-
If any Holder or other holder disapproves of the terms of any such underwriting, he or she may
elect to withdraw therefrom by written notice to the Company and the managing underwriter. The
Registrable Securities so withdrawn shall also be withdrawn from such registration and, in the case
of the Companys Initial Public Offering, shall be subject to Section 1.14.
(c) Right to Terminate Registration. The Company shall have the right to terminate or
withdraw any registration initiated by it under this Section 1.6 prior to the effectiveness of such
registration, whether or not any Holder has elected to include securities in such registration.
1.7 Registration on Form S-3.
(a) If any Holder or Holders request that the Company file a registration statement on Form
S-3 (or any successor form to Form S-3) for a public offering of Registrable Securities, the
reasonably anticipated aggregate price to the public of which, net of underwriting discounts and
commissions, would exceed $2,000,000, and the Company is then entitled to use Form S-3 under
applicable Commission rules to register the Registrable Securities for such an offering, the
Company will:
(i) promptly give written notice of the proposed registration to all other Holders; and
(ii) use its best efforts to effect as soon as practicable such registration (including,
without limitation, the execution of an undertaking to file post-effective amendments, appropriate
qualification under applicable blue sky or other state securities laws and appropriate compliance
with applicable regulations issued under the Securities Act and any other governmental requirements
or regulations) as may be so requested and as would permit or facilitate the sale and distribution
of all or such portion of such Registrable Securities as are specified in such request, together
with all or such portion of the Registrable Securities of any Holder or Holders joining in such
request as are specified in a written request received by the Company within 15 days after receipt
of the written notice from the Company; provided, however, that the Company shall
not be obligated to take any action to effect any such registration pursuant to this Section 1.7:
(1) if the Company, within ten (10) days of the receipt of the request for registration
pursuant to this Section 1.7, gives notice of its bona fide intention to effect the filing of a
registration statement with the Commission within ninety (90) days of receipt of such request
(other than with respect to a registration statement relating to a Rule 145 transaction or an
employee benefit plan or any other registration which is not appropriate for the registration of
Registrable Securities);
(2) during the period starting with the date sixty (60) days prior to the Companys estimated
date of filing of, and ending on the date three months immediately following, the effective date of
any registration statement pertaining to Securities of the Company (other than with respect to a
registration statement relating to a Rule 145 transaction or an employee benefit plan), provided
that the Company is actively employing in good faith all reasonable efforts to cause such
registration statement to be filed and become effective; or
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(3) if the Company shall furnish to such Holder or Holders a certificate signed by the
President of the Company stating that in the good faith judgment of the Board of Directors it would
be seriously detrimental to the Company or its shareholders for registration statements to be filed
in the near future, then the Companys obligation to use its best efforts to file a registration
statement shall be deferred for a period not to exceed 90 days from the receipt of the request to
file such registration by such Holder or Holders; provided further, however, that
the Company may not utilize the rights provided for in subsections (1) and (2) above and this
subsection (3) more than once in total in any twelve month period. For the avoidance of doubt, if
the Company utilizes any of the rights provided for in subsections (1), (2) and (3), it shall not
have the right to utilize the same right again; nor shall it have the right to utilize any of the
other rights provided in subsections (1), (2) and (3) for twelve months.
(b) Underwriting. If the Holders requesting registration intend to distribute the
Registrable Securities covered by their request by means of an underwriting, they shall so advise
the Company as part of their request made under Section 1.7(a), and the Company shall so advise the
Holders as part of the notice given pursuant to Section 1.7(a)(i). The substantive provisions of
Section 1.5(b) shall otherwise apply to such registration.
1.8 Expenses of Registration. All Registration Expenses incurred in connection with
any registration pursuant to Sections 1.5, 1.6 and 1.7 shall be borne by the Company. If a
registration proceeding is begun upon the request of Holders pursuant to Section 1.5 or 1.7, but
such request is subsequently withdrawn at the request of the Holders, then the Holders of
Registrable Securities to have been registered may either: (i) bear all Registration Expenses of
such proceeding, pro rata on the basis of the number of shares to have been registered, in which
case the Company shall be deemed not to have effected a registration pursuant to Section 1.5(a) or
1.7(a) of this Agreement as applicable; provided, however, that the Company, and
not the Holders, shall be required to pay for the Registration Expenses if the Holders learn of a
materially adverse change in the condition, business, or prospects of the Company from that known
to the Holders at the time of their request and have withdrawn the request promptly following
discovery of such material adverse
change; or (ii) if the registration is being effected pursuant to Section 1.5, require the
Company to bear all Registration Expenses of such proceeding, in which case the Company shall be
deemed to have effected a registration pursuant to Section 1.5(a). Unless otherwise stated, all
other Selling Expenses relating to securities registered on behalf of the Holders shall be borne by
the Holders of the registered securities included in such registration pro rata on the basis of the
number of shares so registered, provided that to the extent a Holder elects to
retain its own counsel (an Additional Counsel) separate from the counsel for all the Holders
permitted pursuant to the definition of Registration Expenses under Section 1.1, then such Holder
shall exclusively bear the costs of such Additional Counsel.
1.9 Registration Procedures. In the case of each registration, qualification or
compliance effected by the Company pursuant to this Section 1, the Company will keep each Holder
advised in writing as to the initiation of each registration, qualification and compliance and as
to the completion thereof. At its expense the Company will, as expeditiously as reasonably
possible:
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(a) Prepare and file with the Commission a registration statement with respect to such
Registrable Securities and use its best efforts to cause such registration statement to become
effective, and, upon the request of the Holders of a majority of the Registrable Securities
registered thereunder, keep such registration statement effective for a period of up to one hundred
twenty (120) days or until the distribution described in the registration statement has been
completed; provided, however, that such 120-day period shall be extended for a
period of time equal to the period the Holder refrains from selling any securities included in such
registration at the request of an underwriter of Common Stock (or other securities) of the Company.
(b) Prepare and file with the Commission, in consultation with the Holders, such amendments
and supplements to such registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such registration statement.
(c) Furnish to the Holders participating in such registration and to the underwriters of the
securities being registered such reasonable number of copies of the registration statement,
preliminary prospectus, final prospectus and such other documents as such underwriters may
reasonably request in order to facilitate the public offering of such securities.
(d) Use its best efforts to register and qualify the securities covered by such registration
statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably
requested by the Holders; provided that the Company shall not be required in connection therewith
or as a condition thereto to qualify to do business or to file a general consent to service of
process in any such states or jurisdictions, unless the Company is already subject to service in
such jurisdiction and except as may be required by the Securities Act.
(e) In the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing
underwriter of such offering. Each Holder participating in such underwriting shall also enter
into and perform its obligations under such an agreement.
(f) Notify each Holder of Registrable Securities covered by such registration statement at any
time when a prospectus relating thereto is required to be delivered under the Securities Act of the
happening of any event as a result of which the prospectus included in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein not misleading or
incomplete in light of the circumstances then existing, and at the request of any such Holder,
prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment
of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such
shares, such prospectus shall not include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not
misleading or incomplete in the light of the circumstances then existing.
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(g) Cause all such Registrable Securities registered pursuant hereunder to be listed on each
securities exchange, or quoted in a U.S. automated inter-dealer quotation system, as the case may
be, on which similar securities issued by the Company are then listed or quoted.
(h) Provide a transfer agent and registrar for all Registrable Securities registered pursuant
hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the
effective date of such registration.
(i) In the event of any underwritten public offering, cooperate with the selling Holders, the
underwriters participating in the offering and their counsel in any due diligence investigation
reasonably requested by the selling Holders or the underwriters in connection therewith, and
participate, to the extent reasonably requested by the managing underwriter for the offering or the
selling Holder, in efforts to sell the Registrable Securities under the offering (including,
without limitation, participating in roadshow meetings with prospective investors) that would be
customary for underwritten primary offerings of a comparable amount of equity securities by the
Company.
1.10 Indemnification.
(a) The Company will indemnify and defend each Holder, each of its officers and directors and
partners, and each person controlling such Holder within the meaning of Section 15 of the
Securities Act, with respect to which registration, qualification or compliance is being effected
pursuant to this Section 1, and each underwriter, if any, and each person who controls any
underwriter within the meaning of Section 15 of the Securities Act, against all expenses, claims,
losses, damages or liabilities (or actions in respect thereof), including any of the foregoing
incurred in settlement of any litigation, commenced or threatened, arising out of or based on any
untrue statement (or alleged untrue statement) of a material fact contained in any registration
statement, prospectus, preliminary prospectus, offering circular or other document, or any
amendment or supplement thereto, incident to any such registration, qualification or compliance, or
based on any
omission (or alleged omission) to state therein a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading, or any violation or any alleged violation by the Company of the Securities Act or
the Exchange Act or any state securities law, or any rule or regulation promulgated thereunder,
applicable to the Company in connection with any such registration, qualification or compliance,
and the Company will reimburse each such Holder, each of its officers and directors, and each
person controlling such Holder, each such underwriter and each person who controls any such
underwriter, for any legal and any other expenses reasonably incurred in connection with
investigating, preparing or defending any such claim, loss, damage, liability or action, as such
expenses are incurred, provided that the Company will not be liable in any such case to the extent
that any such claim, loss, damage, liability or expense arises out of or is based on any untrue
statement or omission or alleged untrue statement or omission, made in reliance upon and in
conformity with written information furnished to the Company by an instrument duly executed by such
Holder, controlling person or underwriter and stated to be specifically for use therein.
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(b) Each Holder will, if Registrable Securities held by such Holder are included in the
securities as to which such registration, qualification or compliance is being effected, indemnify
the Company, each of its directors and officers, each underwriter, if any, of the Companys
securities covered by such a registration statement, each person who controls the Company or such
underwriter within the meaning of Section 15 of the Securities Act, and each other such Holder,
each of its officers and directors and each person controlling such Holder within the meaning of
Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions
in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement)
of a material fact contained in any such registration statement, prospectus, offering circular or
other document, or any omission (or alleged omission) to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading, and will reimburse
the Company, such Holders, such directors, officers, persons, underwriters or control persons for
any legal or any other expenses reasonably incurred in connection with investigating or defending
any such claim, loss, damage, liability or action, as such expenses are incurred, in each case to
the extent, but only if and to the extent, that such untrue statement (or alleged untrue statement)
or omission (or alleged omission) is made in such registration statement, prospectus, offering
circular or other document in reliance upon and in conformity with written information furnished to
the Company by an instrument duly executed by such Holder and stated to be specifically for use
therein; provided, however, that the liability of any Holder shall be limited to
the net proceeds received by such Holder from the sale of Securities pursuant to such registration.
(c) Each party entitled to indemnification under this Section 1.10 (the Indemnified Party)
shall give notice to the party required to provide indemnification (the Indemnifying Party)
promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may
be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any
litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct
the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval
shall not unreasonably be withheld), and the Indemnified Party
may participate in such defense at such partys expense; provided, however,
that an Indemnified Party (together with all other Indemnified Parties which may be represented
without conflict by one counsel) shall have the right to retain one separate counsel, with the fees
and expenses to be paid by the Indemnifying Party, if representation of such Indemnified Party by
the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential
differing interests between such Indemnified Party and any other party represented by such counsel
in such proceeding. The failure of any Indemnified Party to give notice as provided herein shall
not relieve the Indemnifying Party of its obligations under this Section 1 unless, and only to the
extent that, the failure to give such notice is materially prejudicial to an Indemnifying Partys
ability to defend such action. No Indemnifying Party, in the defense of any such claim or
litigation, shall, except with the consent of each Indemnified Party, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in
respect to such claim or litigation.
(d) If the indemnification provided for in this Section 1.10 is held by a court of competent
jurisdiction to be unavailable to an Indemnified Party with respect to any loss,
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liability, claim,
damage, or expense referred to therein, then the Indemnifying Party, in lieu of indemnifying such
Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified
Party as a result of such loss, liability, claim, damage, or expense in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party on the one hand and of the
Indemnified Party on the other in connection with the statements or omissions that resulted in such
loss, liability, claim, damage, or expense as well as any other relevant equitable considerations
(except to the extent that contribution is not permitted under Section 11(f) of the Securities
Act); provided, however, that, no Holder will be required to pay any amount under
this subsection 1.10(d) in excess of the net proceeds from the sale of all Registrable Securities
offered and sold by such Holder pursuant to such registration statement. The relative fault of the
Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission to state
a material fact relates to information supplied by the Indemnifying Party or by the Indemnified
Party and the parties relative intent, knowledge, access to information, and opportunity to
correct or prevent such statement or omission.
(e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection with the
underwritten public offering are in conflict with the foregoing provisions, the provisions in the
underwriting agreement shall control with respect to the rights and obligations of each of the
parties to such underwriting agreement.
(f) The obligations of the Company and Holders under this Section 1.10 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section
1, and otherwise.
1.11 Information by Holder. The Holder or Holders of Registrable Securities included
in any registration shall furnish to the Company such information regarding such Holder or Holders,
the Securities held by them and the distribution proposed by such Holder or Holders as the Company
may reasonably request in writing and as shall be required in connection with any registration
referred to in this Section 1.
1.12 Reports Under Securities Exchange Act of 1934. With a view to making available
to the Holders the benefits of Rule 144 promulgated under the Securities Act and any other rule or
regulation of the Commission that may at any time permit a Holder to sell securities of the Company
to the public without registration or pursuant to a registration on Form S-3, the Company agrees to
use its best efforts to:
(a) make and keep public information available, as those terms are understood and defined in
Rule 144 under the Securities Act, at all times after the effective date that the Company becomes
subject to the reporting requirements of the Securities Act or the Exchange Act;
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(b) file with the Commission in a timely manner all reports and other documents required of
the Company under the Securities Act and the Exchange Act (at any time after it has become subject
to such reporting requirements);
(c) register its Common Stock under Section 12 of the Exchange Act at such time as it is
required to do so pursuant to the Exchange Act; and
(d) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith
upon request (i) a written statement by the Company as to its compliance with the reporting
requirements of Rule 144 (at any time after ninety (90) days after the effective date of the first
registration statement filed by the Company), the Securities Act and the Exchange Act (at any time
after it has become subject to such reporting requirements), or that it qualifies as a registrant
whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a
copy of the most recent annual or quarterly report of the Company and such other reports and
documents so filed by the Company, and (iii) such other information in the possession of or
reasonably obtainable by the Company as may be reasonably requested in availing any Holder of any
rule or regulation of the Commission which permits the selling of any such securities without
registration or pursuant to such form.
1.13 Transfer of Registration Rights. The rights to cause the Company to register
Registrable Securities granted to the Investors under Sections 1.5, 1.6 and 1.7 may be assigned to
a transferee or assignee in connection with any transfer or assignment of Eligible Securities by an
Investor; provided that (a) such transfer may otherwise be effected in accordance with applicable
securities laws, (b) notice of such assignment is given to the Company, (c) such transferee is a
Permitted Transferee and (d) such transferee or assignee agrees to be bound by and subject to the
terms and conditions of this Agreement.
1.14 Standoff Agreement.
(a) Each Holder agrees in connection with the first sale of the Companys Common Stock in a
firm commitment underwritten public offering pursuant to an effective registration statement under
the Securities Act, upon notice by the Company or the underwriters managing such public offering,
not to sell, make any short sale of, loan, pledge (or otherwise encumber or hypothecate), grant any
option for the purchase of, or otherwise directly or indirectly dispose of any Securities (other
than those included in the registration) without the prior written consent of the Company and such
managing underwriters for such period of time as the Board of Directors establishes pursuant to its
good faith negotiations with such managing underwriters; provided, however that:
(i) such agreement shall not exceed one hundred eighty (180) days;
(ii) such agreement shall not apply to transfers to an Affiliate, provided that such Affiliate
agrees to be bound by the terms of such agreement, to the same extent as if such transferee were
the original party thereunder;
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(iii) a Holder shall not be subject to such agreement unless (A) all executive officers and
directors of the Company, (B), all shareholders of the Company holding more than 1% of the
Companys outstanding capital stock; and (C) all other Holders and holders of other registration
rights, are subject to or obligated to enter into similar agreements; and
(iv) if and when any person identified in clause (iii) is released, in whole or in part, from
such agreement (whether or not such release is contemplated at the time of the offering) or if any
such agreement is terminated, the Holder shall be concurrently released on a pro rata basis based
on the number of shares held by such person and the Holder.
(b) Each Holder agrees that prior to the Initial Public Offering it will not transfer
securities of the Company unless each transferee agrees in writing to be bound by all of the
provisions of this Section 1.14; provided that this Section 1.14(b) shall not apply to transfers
pursuant to a registration statement.
(c) Each Holder hereby consents to the placement of stop transfer orders with the Companys
transfer agent in order to enforce the foregoing provision and agrees to execute a market standoff
agreement with said underwriters in customary form consistent with the provisions of this Section
1.14.
1.15 No Right to Delay Registration. No holder shall restrain, enjoin, or otherwise
delay any registration hereunder, notwithstanding any controversy that might arise with respect to
the interpretation or implementation of this Agreement.
1.16 Termination of Rights. No Holder shall be entitled to exercise any right
provided for in this Section 1 after the earlier of (i) five (5) years following the consummation
of the Initial Public Offering, and (ii) that date following the Initial Public Offering upon which
each Holder holds less than 1% of the then issued and outstanding shares of capital stock of the
Company and all such shares may be sold under Section 5 of the Securities Act whether pursuant to
Rule 144 or another applicable exemption during any 90 day period. All other provisions hereof
relating to registration rights shall continue to be effective despite any termination of such
registration rights pursuant to this section.
1.17 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not enter into any agreement granting any holder or prospective holder
of any securities of the Company registration rights with respect to such securities unless (i)
such new registration rights, are subordinate to the registration rights granted Holders hereunder
and include similar market stand-off obligations or (ii) such new registration rights are approved
by the Holders of 50% of the Registrable Securities then held by Holders (assuming exercise or
conversion of all outstanding Eligible Securities); provided, however, that
Warrantholders may enter into this Agreement by executing and delivering a counterpart signature
page to this Agreement.
SECTION 2
Affirmative Covenants of the Company
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The Company hereby covenants and agrees as follows:
2.1 Delivery of Financial Statements. The Company will furnish to each Investor who
holds at least 40,000 shares of Eligible Securities (as adjusted for stock splits and
combinations):
(a) as soon as reasonably practicable, an income statement for such fiscal year, a balance
sheet of the Company and statement of shareholders equity as of the end of such year, and a cash
flow statement for such year, such year-end financial reports to be in reasonable detail, prepared
in accordance with generally accepted accounting principles (GAAP), and audited and certified by
independent public accountants of nationally recognized standing selected by the Company; and
(b) as soon as practicable, but in any event within forty-five (45) days after the end of each
of the first three (3) quarters of each fiscal year of the Company, an unaudited income statement,
cash flow statement for such fiscal quarter and an unaudited balance sheet as of the end of such
fiscal quarter.
2.2 Additional Information Rights.
(a) Budget and Operating Plan. The Company will furnish to each Investor who holds at
least 750,000 shares of Eligible Securities (as adjusted for stock splits and
combinations) as soon as practicable upon approval or adoption by the Companys Board of
Directors, and in any event within 15 days prior to the start of a fiscal year, the Companys
budget and operating plan for such fiscal year.
(b) Other Information. The Company will furnish to each Investor who holds at least
750,000 shares of Eligible Securities (as adjusted for stock splits and combinations) such other
information relating to the financial condition, business, prospects or corporate affairs of the
Company as such Investor may from time to time request; provided, however, that the
Company shall not be obligated under this subsection (b) or any other subsection of Section 2.2 to
provide information which it deems in good faith to be a trade secret or similar confidential
information.
(c) Inspection. The Company shall permit each Investor who holds at least 750,000
shares of Eligible Securities (as adjusted for stock splits and combinations), at such Investors
expense, to visit and inspect the Companys properties, to examine its books of account and records
and to discuss the Companys affairs, finances and accounts with its officers, all at such
reasonable times and during normal working hours as may be requested by such Investor;
provided, however, that the Company shall not be obligated under this subsection
(c) or any other subsection of Section 2.2 to provide access to information which it deems in good
faith to be a trade secret or similar confidential information.
(d) Monthly Financial Statements. The Company will furnish to each Investor who holds
at least 750,000 shares of Eligible Securities (as adjusted for stock splits and combinations),
upon the request of such Investors, within thirty (30) days of the end of each month,
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an unaudited
income statement and cash flow statement and unaudited balance sheet for and as of the end of such
month, in reasonable detail.
2.3 Confidentiality. Each Investor agrees to use commercially reasonable efforts to
maintain the confidentiality of information obtained pursuant to this Section 2, provided that such
obligation shall not apply to (i) information previously in possession or independently developed
by Investor, (ii) information publicly available other than as a result of breach of this provision
(iii) information required to be disclosed by statute, regulation or court or administrative order.
2.4 Visitation Rights. One representative chosen collectively by LB I Group Inc.,
Lehman Brothers P.A. LLC, Lehman Brothers Partnership Account 2000/2001, L.P. and Lehman Brothers
Offshore Partnership Account 2000/2001, L.P. (collectively, Lehman), one representative chosen
collectively by EuclidSR Partners, L.P. and EuclidSR Biotechnology Partners, L.P. (collectively,
EuclidSR), one representative chosen by Piper Jaffray Healthcare Fund III, L.P. (Piper
Jaffray), one representative chosen by GE Capital Equity Investments, Inc. (GE Capital), one
representative chosen collectively by Interwest Investors VII, L. P. and Interwest Partners VII,
L.P. (collectively, Interwest), one representative chosen by AllianceBernstein L.P. (Alliance),
and one representative chosen by BMSIF shall have the right to attend all meetings of the Board of
Directors, including meetings of any committee of the Board and including the right to participate
in any telephonic board meetings, so long as such Investor holds at least 750,000 shares
of Eligible Securities (as adjusted for stock splits and combinations and the like). Said
representative(s) shall be provided with notice of the meetings in the same manner at the same time
as the members of the Board of Directors and shall be provided with any materials distributed to
the Board of Directors in connection with board meetings. The foregoing visitation rights may be
limited by the Board of Directors if (i), upon the advice of counsel, the Board of Directors
determines that exclusion is required by third party confidentiality agreements, (ii) the Board is
discussing engaging Investor or an affiliate of Investor as a financial advisor or underwriter; or
(iii) the Board is discussing a material transaction with an entity in which Investor or a private
equity fund affiliated with Investor is a 5% or greater shareholder, or (iv) the Board determines
in good faith upon advice of counsel that limitations are required to maintain attorney-client
privilege.
2.5 Stock Option Vesting. Unless otherwise decided by the Board of Directors, all
option grants to employees shall vest over a four-year period with 25% of the shares subject to
each option vesting a year after commencement of employment and the remainder of the shares vesting
in equal amounts on a monthly basis thereafter.
2.6 Insurance. The Company shall, subject to the approval of the Board of Directors,
maintain such fire, casualty and general liability insurance with coverages and in amounts as shall
be determined by the Board of Directors. The Company agrees to maintain in full force and effect
directors and officers liability insurance with coverage in the aggregate amount of amount of $2
million covering all of its directors. The Company will maintain coverage for the Series C
Directors (as defined in the Voting Agreement) and the Series D Directors (as defined in the Voting
Agreement) under such directors and officers liability insurance at all times commencing upon the
Closing (as defined in the Purchase Agreement).
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2.7 Proprietary Information Agreements. Unless otherwise determined by the Board of
Directors, all future employees and consultants of the Company shall be required to execute and
deliver a proprietary information and invention assignment agreement.
2.8 Invention Assignments. The Company agrees to use commercially reasonable efforts
to obtain from each of the individual contributing inventors for each invention that forms any part
of any patent or patent application owned by or licensed to the Company, executed invention
assignments in favor of the Company or the appropriate third party licensor, as the case may be.
2.9 Key-Man Life Insurance. The Company shall obtain and maintain key-man life
insurance in such amount as is determined by the Companys Board of Directors, on Gajus
Worthington. Such policy shall name the Company as loss payee and shall not be cancelable by the
Company without prior unanimous approval of the Board of Directors.
2.10 Compliance with Laws. The Company shall use its best efforts to comply with the
requirements of all applicable laws, rules, regulations and orders of any governmental authority,
where noncompliance would have a material adverse effect on the Companys business and financial
condition.
2.11 Termination of Covenants. The covenants set forth in Section 2 shall terminate
on, and be of no further force or effect after, the closing of the Companys Initial Public
Offering. The rights granted pursuant to this Section 2 are not transferable other than to
Affiliates of Holders.
SECTION 3
Right of First Offer For Company Securities
3.1 Right of First Offer. Subject to the terms and conditions specified in this
Section 3, the Company hereby grants to each Investor a right of first offer with respect to future
sales by the Company of its Securities. An Investor shall be entitled to apportion the right of
first offer hereby granted among itself and its partners and Affiliates in such proportions as it
deems appropriate.
Each time the Company proposes to offer any Securities in a Financing (as defined below), the
Company shall first make an offering of such Securities to each Investor in accordance with the
following provisions:
(a) The Company shall deliver a notice (Notice) to each Investor stating (i) its intention
to offer such Securities for sale, (ii) the number of such Securities to be offered (the Offered
Securities), (iii) the price, if any, for which it proposes to offer such Securities, (iv) the
terms of such offer and (v) the Offer Amount (as defined below).
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(b) Within fifteen (15) calendar days after receipt of the Notice, each Investor may elect to
purchase, at the price and on the terms specified in the Notice, such Securities in an amount up to
the Offer Amount by providing the Company with written notice of its election.
(c) An election by an Investor pursuant to Section 3.1(b) to purchase Offered Securities shall
not be considered a binding commitment on the Investor unless and until the Company receives
binding commitments to purchase on the terms and conditions contained in the Notice substantially
all of the Offered Securities which the Investors have not elected to purchase.
Notwithstanding the foregoing, the Company and each of the Investors acknowledge and agree
that Lighthouse shall have the opportunity to invest not less than $250,000 in connection with the
first Financing completed after the date of this Agreement that involves the sale and issuance by
the Company of shares of the Companys convertible preferred stock with aggregate gross proceeds to
the Company of at least $3 million. In the event that Lighthouses right to purchase Offered
Securities as otherwise set forth in this Section 3.1 would not permit such $250,000 investment,
then each of the Investors agrees that its respective right to purchase Offered Securities pursuant
to this Section 3.1 may be cut-back (proportionately with all other Investors based on the number
of shares of Eligible Securities held by the Investors) in such amounts as may be necessary to
permit the exercise of Lighthouses rights as set forth herein.
3.2 Sale of Securities by Company. Within 60 days of the expiration of the period
described in Section 3.1(b), any Offered Securities which the Investors have not elected to
purchase may be sold by the Company to any person or persons at a price not less than, and upon
terms no more favorable to the offeree than, those specified in the Notice. If the Company does
not complete the sale of all such Offered Securities within said 60-day period, the rights of the
Investors with respect to any such unsold Offered Securities shall be deemed to be revived.
3.3 Offer Amount. The Offer Amount shall equal that percentage of the Offered
Securities equal to the number of shares of Eligible Securities held by an Investor which are
Registrable Securities divided by the total number of outstanding shares of Common Stock of the
Company. For the purposes of the foregoing calculations, all outstanding options and warrants
shall be deemed to be exercised and all Preferred Stock shall be deemed to have been converted into
Common Stock at the prevailing conversion rate.
3.4 Financing. Financing shall mean an offering or series of related offerings of
Securities by the Company for purposes of raising working capital in a minimum amount of $250,000.
Financing shall not include (i) the issuance or sale of shares of Common Stock or options to
purchase Common stock to employees, officers, directors or consultants for the primary purpose of
soliciting or retaining their services in such amount as shall have been approved by the Board of
Directors, (ii) the issuance or sale of Securities to leasing entities or financial institutions in
connection with commercial leasing or borrowing transactions approved by the Board of Directors,
(iii) the issuance or sale of Securities to third party providers of goods or services in
connection with transactions approved by the Board of Directors; (iv) the sale of Securities in a
registered public offering, (v) any issuances of Securities in connection with any stock split,
stock dividend or recapitalization by the Company, (vi) the issuance of Securities at a price (on
an as converted to
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Common Stock basis) below the original issue price of the Companys Series E
Preferred Stock (as adjusted for stock splits, recapitalizations and like events) in connection
with sponsored research, collaboration, technology license, development, OEM, marketing or other
similar agreements or any joint venture or strategic alliance, if such issuance is approved
unanimously by the Board of Directors, provided that the issuance of the Companys
Series E Preferred Stock to BMSIF or any Affiliate thereof or any related entity to the Singapore
Economic Development Board pursuant to Section 3.4(xii) below at a price below the original issue
price of the Companys Series E Preferred Stock (as adjusted for stock splits, recapitalizations
and like events) shall also not be a Financing hereunder, (vii) the issuance of Securities at a
price (on an as converted to Common Stock basis) at or above the original issue price of the
Companys Series E Preferred Stock (as adjusted for stock splits, recapitalizations and like
events) in connection with sponsored research, collaboration, technology license, development, OEM,
marketing or other similar agreements or any joint venture or strategic alliance, if such issuance
is approved by the Board of Directors, (viii) the issuance of Securities at a price (on an as
converted to Common Stock basis) below the original issue price of the Companys Series E Preferred
Stock (as adjusted for stock splits, recapitalizations and like events) in connection with the
acquisition of another corporation by the Company by merger, consolidation, or purchase of all or
substantially all of the assets or shares of such corporation unanimously approved by the Board of
Directors, (ix) the issuance of Securities at a price (on an as
converted to Common Stock basis) at or above the original issue price of the Companys Series
E Preferred Stock (as adjusted for stock splits, recapitalizations and like events) in connection
with the acquisition of another corporation by the Company by merger, consolidation, or purchase of
all or substantially all of the assets or shares of such corporation approved by the Board of
Directors; (x) shares of Series E Preferred Stock issued pursuant to the terms of the Purchase
Agreement; (xi) interest-bearing convertible promissory notes in the aggregate principal amount of
$8 million issued or issuable pursuant to the CNPA and/or the CNA and any Securities issued on
conversion thereof; and (xii) additional interest-bearing convertible promissory notes to be issued
after the date hereof in the aggregate principal amount of up to $15 million to BMSIF or any
Affiliate thereof or any related entity to the Singapore Economic Development Board, and any
Securities issued on conversion thereof.
3.5 Termination of Right of First Offer. The right of first offer contained in this
section shall not apply to and shall terminate upon the closing of an Initial Public Offering. The
right of first offer granted under this Section 3 is transferable to transferees of at least
750,000 shares of Registrable Securities (as adjusted for stock splits, combinations and the like)
or to Affiliates.
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SECTION 4
Right of First Offer with Respect to Founder Shares
4.1 Notice of Sales. Should a Founder (a Seller) propose to accept one or more bona
fide offers (collectively, the Purchase Offer) from any persons (Purchasers) to purchase
Founders Shares from such Seller (other than as set forth 4.2(d) hereof), then such Seller shall,
promptly after exercise or termination of any rights of first refusal held by the Company, deliver
a notice (the Notice) to the Company and all Investors holding more than 750,000 shares of
Eligible Securities (Eligible Investors).
4.2 Purchase Right. Each Eligible Investor shall have the right, exercisable upon
written notice to such Seller within ten (10) business days after receipt of the Notice, to
purchase Founders Shares on the terms and conditions specified in the Purchase Offer. To the
extent an Eligible Investor exercises its right to purchase such shares in accordance with the
terms and conditions set forth below, the number of shares of stock which such Seller may sell to
the Purchasers pursuant to the Purchase Offer shall be correspondingly reduced. The purchase right
of each Eligible Investor shall be subject to the following terms and conditions:
(a) Calculation of Shares. Each Eligible Investor may purchase all or any part of
that number of Founder Shares equal to the number obtained by multiplying (i) the aggregate number
of Founders Shares covered by the Purchase Offer by (ii) a fraction, the numerator of which is the
number of shares of Common Stock of the Company at the time owned by such Eligible Investor and the
denominator of which is the number of shares of Common Stock of the Company then outstanding. For
the purposes of the foregoing calculations, all outstanding options and
warrants shall be deemed to be exercised and all Preferred Stock shall be deemed to have been
converted into Common Stock at the prevailing conversion rate.
(b) Delivery of Consideration. Each Eligible Investor may effect its purchase right
by promptly delivering to such Seller a written notice and a check or wire transfer equal to the
purchase price specified in the Purchase Offer for the number of shares the Eligible Investor
desires to purchase pursuant to this Section 4.2.
(c) Certificate. Within ten (10) business days of receipt of Eligible Investors
funds pursuant to Section 4.2(c), Seller shall deliver to such Eligible Investor a certificate or
certificates representing the shares of Founder Shares purchased by such Eligible Investor.
(d) Permitted Transactions. The participation rights in this Section 4 shall not
pertain or apply to:
(i) Any transfer to a revocable grantor trust with respect to which the Founder and members of
his family are the sole beneficiaries;
(ii) Any repurchase of Founders Shares by the Company;
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(iii) Any exercise by the Company of a right or remedy under the terms of any loan, security
or stock pledge agreement where the Founders Shares serve as security for a loan made by the
Company;
(iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for
their benefit or to a custodian for the benefit of a Founders issue; or
(v) Any bona fide gift;
provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift
(other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee
or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a
written agreement to be bound by and comply with all applicable provisions of this Agreement.
4.3 Sale of Securities by Founder. Within 60 days of the expiration of the period
described in the first paragraph of Section 4.2, any Founders Shares covered by the Purchase Offer
which the Eligible Investors have not elected to purchase may be sold by the Seller to the
Purchasers on the terms and conditions of the Purchase Offer. If the Seller does not complete the
sale of all Founders Shares covered by the Purchase Offer within such period, the rights of the
Eligible Investors with respect to any such unsold Founders Shares shall be deemed to be revived.
4.4 Termination and Transfer. The restrictions imposed and rights granted by this
Section 4 shall not apply to and shall terminate immediately prior to the closing of the Companys
Initial Public Offering. Securities received pursuant to any stock dividend, stock split,
recapitalization, or exercise of a conversion right shall be subject to this Section 4 to the
same extent as the shares of the Company with respect to which they were issued. The right of
first offer granted under this Section 4 is transferable to transferees of at least 750,000 shares
of Registrable Securities (as adjusted for stock splits, combinations and the like) or to
Affiliates.
4.5 Prohibited Transfer. Any attempt by a Founder to transfer Founders Shares in
violation of Section 4 hereof shall be void and the Company agrees it will not effect such a
transfer nor will it treat any alleged transferee(s) as the holder of such shares, without the
written consent of two-thirds (2/3) in interest of the Eligible Investors.
SECTION 5
Right of Co-Sale
5.1 Notice of Sales. Should a Founder (a Seller) propose to accept one or more bona
fide offers (collectively, the Purchase Offer) from any persons (Purchasers) to purchase
Founders Shares from such Seller (other than as set forth 5.2(d)), then such Seller shall, promptly
after exercise or termination of any rights of first refusal held by the Company or the Eligible
Investors, deliver a notice (the Notice) to the Company and all Eligible Investors describing the
terms and conditions of the Purchase Offer.
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5.2 Participation Right. Each Eligible Investor shall have the right, exercisable
upon written notice to such Seller within fifteen (15) business days after receipt of the Notice,
to participate in such Sellers sale of stock pursuant to the specified terms and conditions of
such Purchase Offer. To the extent an Eligible Investor exercises such right of participation in
accordance with the terms and conditions set forth below, the number of shares of stock which such
Seller may sell pursuant to such Purchase Offer shall be correspondingly reduced. The right of
participation of each Eligible Investor shall be subject to the following terms and conditions:
(a) Calculation of Shares. Each Eligible Investor may sell all or any part of that
number of shares of Common Stock of the Company equal to the number obtained by multiplying (i) the
aggregate number of Founders Shares covered by the Purchase Offer by (ii) a fraction, the numerator
of which is the number of shares of Common Stock of the Company at the time owned by such Eligible
Investor and the denominator of which is the number of shares of Common Stock of the Company then
outstanding. For the purposes of the foregoing calculations, all outstanding options and warrants
shall be deemed to be exercised and all Preferred Stock shall be deemed to have been converted into
Common Stock at the prevailing conversion rate.
(b) Delivery of Certificates. Each Eligible Investor may effect its participation in
the sale by delivering to such Seller for transfer to the Purchaser(s) one or more certificates,
properly endorsed for transfer, which represent at least the number of shares of Common Stock which
such Eligible Investor elects to sell pursuant to this Section 5.2.
(c) Transfer. The stock certificate or certificates which the Eligible Investor
delivers to such Seller pursuant to Section 5.2 shall be delivered by the Seller to the
Purchaser(s) in consummation of the sale of the Securities pursuant to the terms and conditions
specified in the Notice, and such Seller shall promptly thereafter remit to such Eligible Investor
that portion of the sale proceeds to which such Eligible Investor is entitled by reason of its
participation in such sale.
(d) Permitted Transactions. The participation rights in this Section 5 shall not
pertain or apply to:
(i) Any transfer to a revocable grantor trust with respect to which the Seller and members of
his family are the sole beneficiaries;
(ii) Any repurchase of Founders Shares by the Company;
(iii) Any exercise by the Company of a right or remedy under the terms of any loan, security
or stock pledge agreement where the Founders Shares serve as security for a loan made by the
Company;
(iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for
their benefit or to a custodian for the benefit of a Founders issue; or
(v) Any bona fide gift;
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provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift
(other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee
or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a
written agreement to be bound by and comply with all applicable provisions of this Agreement.
5.3 Sale of Securities by Founder. Within 45 days of the expiration of the period
described in the first paragraph of Section 5.2, any Founders Shares covered by the Purchase Offer
which the Eligible Investors have not elected to purchase may be sold by the Seller to the
Purchasers on the terms and conditions of the Purchase Offer. If the Seller does not complete the
sale of all Founders Shares covered by the Purchase Offer within such period, the rights of the
Eligible Investors with respect to any such unsold Founders Shares shall be deemed to be revived.
5.4 Termination and Transfer. The restrictions imposed and rights granted by this
Section 5 shall not apply to and shall terminate immediately prior to the closing of the Companys
Initial Public Offering. Securities received pursuant to any stock dividend, stock split,
recapitalization, or exercise of a conversion right shall be subject to this Section 5 to the same
extent as the shares of the Company with respect to which they were issued. The co-sale right
granted under this Section 5 is transferable to transferees of at least 750,000 shares of
Registrable Securities (as adjusted for stock splits, combinations and the like) or to Affiliates.
5.5 Prohibited Transfers.
(a) In the event any Founder should sell any Founders Shares in contravention of the co-sale
rights of the Investors under Section 5 (a Prohibited Transfer), the Investors, in addition to
such other remedies as may be available at law, in equity or hereunder, shall have the put option
provided below, and the Founder shall be bound by the applicable provisions of such option.
(b) In the event of a Prohibited Transfer, each Eligible Investor shall have the right to sell
to the Founder the type and number of shares of Common Stock equal to the number of shares that
such Eligible Investor would have been entitled to transfer to the third-party transferee(s) under
Section 5.2 hereof had the Prohibited Transfer been effected pursuant to and in compliance with the
terms thereof. Such sale shall be made on the following terms and conditions:
(i) The price per share at which the shares are to be sold to the Founder shall be equal to
the price per share paid by the third-party transferee(s) to the Founder in the Prohibited
Transfer. Such price per share shall be paid to the Eligible Investor in cash if the Founder
received cash for his shares. If the Founder did not receive cash but received other property
instead, the price per share to be paid to the Eligible Investor shall be paid (A) in the form of
the property received by the Founder for his shares, or (B) in cash equal to the fair market value
of the property received by such Founder as determined in good faith by the Companys Board of
Directors, at the option of the Eligible Investor. The Founder shall also reimburse each Eligible
Investor for any and all fees and expense, including legal fees and expenses, incurred pursuant to
the exercise or the attempted exercise of the Eligible Investors rights under Section 5.
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(ii) Within thirty (30) days after the later of the dates on which the Eligible Investor (A)
received notice of the Prohibited Transfer or (B) otherwise became aware of the Prohibited
Transfer, each Eligible Investor shall, if exercising the option created hereby, deliver to the
Founder the certificate or certificates representing shares to be sold, each certificate to be
properly endorsed for transfer.
(iii) The Founder shall, upon receipt of the certificate or certificates for the shares to be
sold by an Eligible Investor pursuant to this Section 5, pay the aggregate purchase price therefor
and the amount of reimbursable fees and expenses, as specified in subparagraph 5.5(b)(i), in cash
or by other means acceptable to the Eligible Investor.
(c) Notwithstanding the foregoing, any attempt by a Founder to transfer Founders Shares in
violation of Section 5 hereof shall be void and the Company agrees it will not effect such a
transfer nor will it treat any alleged transferee(s) as the holder of such shares, without the
written consent of two-thirds (2/3) in interest of the Eligible Investors.
SECTION 6
Miscellaneous
6.1 Governing Law; Jurisdiction. This Agreement shall be construed in accordance
with, and governed in all respects by, the laws of the State of California, as applied to
agreements entered into, and to be performed entirely in such state, between residents of such
state.
The parties hereto agree to submit to the jurisdiction of the federal and state courts of San
Mateo County, California with respect to the breach or interpretation of this Agreement or the
enforcement of any and all rights, duties, liabilities, obligations, powers, and other relations
between the parties arising under this Agreement.
6.2 Successors and Assigns. Except as otherwise provided herein, the provisions
hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs,
executors and administrators of the parties hereto.
6.3 Notices, Etc. All notices and other communications required or permitted
hereunder, shall be in writing and shall be sent by facsimile personally delivered, mailed by
registered or certified mail, postage prepaid, return receipt requested, or otherwise delivered by
a nationally-recognized overnight courier, addressed (a) if to an Investor, at Investors facsimile
number or address as set forth in the records of the Company or (b) if to any other holder of any
Eligible Securities, at such address as such holder shall have furnished the Company in writing,
or, until any such holder so furnishes an address to the Company, then to and at the address of the
last holder of such Eligible Securities who has so furnished an address or facsimile number to the
Company, or (c) if to a Founder, at such Founders facsimile number or address set forth on
EXHIBIT B hereto, or a such other address as such Founder shall have furnished to the
Company in writing, or (d) if to the Company, at its facsimile number or address set forth on the
signature page hereto addressed to the attention of the Corporate Secretary, or at such other
address as the Company
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shall have furnished to the Investors. Any such notice or communication
shall be deemed to have been received (A) in the case of personal delivery, on the date of such
delivery, (B) in the case of a nationally-recognized overnight courier, on the next business day
after the date when sent, (C) in the case of mailing, on the third business day following that on
which the piece of mail containing such communication is posted and (D) in the case of delivery via
facsimile, one (1) business day after the date of transmission provided that said transmission is
confirmed telephonically on the date of transmission.
6.4 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any holder of any Eligible Securities upon any breach or default of the Company under
this Agreement shall impair any such right, power or remedy of such holder, nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any
similar breach or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any holder of any
breach or default under this Agreement, or any waiver on the part of any holder of any provisions
or conditions of this Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing or as provided in this Agreement. All remedies, either under this Agreement or
by law or otherwise afforded to any holder, shall be cumulative and not alternative.
6.5 Third Parties. Nothing in this Agreement, express or implied, is intended to
confer upon any party, other than the parties hereto, and their respective successors and assigns,
any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as
expressly provided herein.
6.6 Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, portions of such provisions, or such provisions in their
entirety, to the extent necessary, shall be severed from this Agreement, and the balance of this
Agreement shall be enforceable in accordance with its terms.
6.7 Amendment and Waiver. Any provision of this Agreement may be amended or waived
with the written consent of the Company and the Holders of at least two-thirds of the outstanding
shares of the Registrable Securities then held by Holders (assuming the exercise or conversion of
all outstanding Eligible Securities); provided, however, (i) that in the event such
amendment or waiver adversely affects the rights and/or obligations of the Founders under this
Agreement in a different manner than the other Holders, such amendment or waiver shall also require
written consent of the Founders holding a majority of the then outstanding Founders Shares, (ii)
that in the event such amendment or waiver adversely affects the rights and/or obligations of
Lehman, EuclidSR, Piper Jaffray, GE Capital, Interwest, Alliance, and BMSIF under Section 2.4 of
this Agreement, such amendment or waiver shall not be effective as to Lehman, EuclidSR, Piper
Jaffray, GE Capital, Interwest or BMSIF, as the case may be, without the written consent of such
party, and (iii) that in the event such amendment or waiver adversely affects the rights and/or
obligations of Warrantholders under this Agreement in a different manner than the other Holders,
such amendment or waiver shall also require the written consent of Warrantholders holding a
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majority of the then outstanding Warrant Shares. Notwithstanding the foregoing, any purchaser of
Series E Preferred Stock pursuant to the Purchase Agreement may become a party to this Agreement by
executing and delivering an additional counterpart signature page to this Agreement and such
purchaser shall be deemed a Holder and an Investor hereunder. The parties agree that Exhibit
A shall be updated automatically without any formal amendment to reflect the addition of any
such additional party. Any amendment or waiver effected in accordance with this paragraph shall be
binding upon each Holder, the Founders, the holder of the Other Shares, Warrantholders and the
Company. In addition, the Company may waive performance of any obligation owing to it, as to some
or all of the Holders, or agree to accept alternatives to such performance, without obtaining the
consent of any other Holder. In the event that an underwriting agreement is entered into between
the Company and any Holder, and such underwriting agreement contains terms differing from this
Agreement, as to any such Holder the terms of such underwriting agreement shall govern.
6.8 Rights of Holders. Each Holder shall have the absolute right to exercise or
refrain from exercising any right or rights that such holder may have by reason of this Agreement,
including, without limitation, the right to consent to the waiver or modification of any obligation
under this Agreement, and such holder shall not incur any liability to any other holder of any
Securities as a result of exercising or refraining from exercising any such right or rights.
6.9 Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be enforceable against the parties actually executing such counterparts, and all of
which together shall constitute one instrument.
6.10 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this
Agreement are for convenience of reference only and are not to be considered in construing this
Agreement.
6.11 Amendment and Restatement of Prior Agreement. The undersigned Prior Investors
who in the aggregate hold at least two-thirds of the outstanding Registrable Securities (as defined
in the Prior Agreement) and the undersigned Founders hereby amend and restate the Prior Agreement
pursuant to Section 6.7 thereof.
6.12 Waiver of Right of First Offer. The undersigned Prior Investors who in the
aggregate hold at least two-thirds of the outstanding Registrable Securities (as defined in the
Prior Agreement) hereby waive on behalf of all Prior Investors any rights of participation or
notice under Section 3 of this Agreement and the Prior Agreement with respect to the securities
sold pursuant to the Purchase Agreement. By its execution below, Lighthouse waives any right of
participation or notice under Section 3 of this Agreement and Section 3 of the Prior Agreement with
respect to securities sold under the Purchase Agreement.
6.13 Aggregation of Stock. All shares of Eligible Securities held or acquired by
Affiliated entities or persons shall be aggregated together for the purpose of determining the
availability of any rights under this Agreement.
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6.14 Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.
[Remainder
of Page Left Blank Intentionally]
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FLUIDIGM
CORPORATION
FORM OF
AMENDMENT NO. 1 TO
EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
THIS AMENDMENT NO. 1 (this Amendment) to that certain Eighth Amended and Restated Investor
Rights Agreement, dated as of June 13, 2006 (the Rights Agreement), by and among Fluidigm
Corporation, a California corporation (the Company), and the Investors and Founders named therein
is entered into this 22nd day of December, 2006 by and among the Company and the undersigned,
collectively the Holders of at least two-thirds of the outstanding shares of the Registrable
Securities then held by Holders (assuming the exercise or conversion of all outstanding Eligible
Securities). Capitalized terms not defined herein have the meanings set forth in the Rights
Agreement.
RECITALS
A. It is contemplated that the Company will sell and issue additional shares of the Companys
Series E Preferred Stock (Series E Preferred Stock) pursuant to that certain Series E Preferred
Stock Purchase Agreement, dated as of June 13, 2006 (the Purchase Agreement), by and among the
Company and the Purchasers named therein.
B. In connection with the sale of additional shares of Series E Preferred Stock, the Company
and the Investors desire to (i) provide that the standoff agreement in Section 1.14 of the Rights
Agreement shall not apply to securities of the Company purchased by certain Holders in the Initial
Public Offering or in the public market for the Companys securities following the Initial Public
Offering, and (ii) grant visitation rights pursuant to Section 2.4 of the Rights Agreement
collectively to Cross Creek Capital, L.P., Cross Creek Capital Employees Fund, L.P. and Wasatch
Small Cap Growth.
C. The Company and the undersigned Holders of at least two-thirds of the outstanding shares of
the Registrable Securities then held by Holders (assuming the exercise or conversion of all
outstanding Eligible Securities) have agreed to amend the Rights Agreement to provide for the
foregoing changes to the standoff agreement in Section 1.14 and the visitation rights in Section
2.4.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, all of the parties
hereto mutually agree as follows:
SECTION 7 Amendment to Section 1.14. Section 1.14 (Standoff Agreement) of the Rights
Agreement is hereby amended and restated in its entirety as follows:
1.14 Standoff Agreement.
(a) Each Holder agrees in connection with the first sale of the Companys
Common Stock in a firm commitment underwritten public offering pursuant to an
effective registration statement under the Securities Act, upon notice by the
Company or the underwriters managing such public offering, not to sell, make any
short sale of, loan, pledge (or otherwise encumber or hypothecate), grant any option
for the purchase of, or otherwise directly or indirectly dispose of any Securities
(other than those included in the registration) without the prior written consent of
the Company and such managing underwriters for such period of time as the Board of
Directors establishes pursuant to its good faith negotiations with such managing
underwriters; provided, however that:
(i) such agreement shall not exceed one hundred eighty (180) days;
(ii) such agreement shall not apply to transfers to an Affiliate, provided that
such Affiliate agrees to be bound by the terms of such agreement, to the same extent
as if such transferee were the original party thereunder;
(iii) such agreement shall not apply to securities of the Company purchased by
AllianceBernstein Venture Fund I, L.P., SmallCap World Fund, Inc., Cross Creek
Capital, L.P., Cross Creek Capital Employees Fund, L.P. or Wasatch Small Cap Growth
or their respective Affiliates in the Initial Public Offering or in the public
market for the Companys securities following the Initial Public Offering;
(iv) a Holder shall not be subject to such agreement unless (A) all executive
officers and directors of the Company, (B), all shareholders of the Company holding
more than 1% of the Companys outstanding capital stock; and (C) all other Holders
and holders of other registration rights, are subject to or obligated to enter into
similar agreements; and
(v) if and when any person identified in clause (iv) is released, in whole or
in part, from such agreement (whether or not such release is contemplated at the
time of the offering) or if any such agreement is terminated, the Holder shall be
concurrently released on a pro rata basis based on the number of shares held by such
person and the Holder.
(b) Each Holder agrees that prior to the Initial Public Offering it will not
transfer securities of the Company unless each transferee agrees in writing to be
bound by all of the provisions of this Section 1.14; provided that this Section
1.14(b) shall not apply to transfers pursuant to a registration statement.
(c) Each Holder hereby consents to the placement of stop transfer orders with
the Companys transfer agent in order to enforce the foregoing provision and agrees
to execute a market standoff agreement with said
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underwriters in customary form consistent with the provisions of this Section 1.14.
SECTION 8 Amendment to Section 2.4. Section 2.4 (Visitation Rights) of the Rights
Agreement is hereby amended and restated in its entirety as follows:
2.4 Visitation Rights. One representative chosen collectively by LB I Group
Inc., Lehman Brothers P.A. LLC, Lehman Brothers Partnership Account 2000/2001, L.P. and
Lehman Brothers Offshore Partnership Account 2000/2001, L.P. (collectively, Lehman), one
representative chosen collectively by EuclidSR Partners, L.P. and EuclidSR Biotechnology
Partners, L.P. (collectively, EuclidSR), one representative chosen by Piper Jaffray
Healthcare Fund III, L.P. (Piper Jaffray), one representative chosen by GE Capital Equity
Investments, Inc. (GE Capital), one representative chosen collectively by Interwest
Investors VII, L. P. and Interwest Partners VII, L.P. (collectively, Interwest), one
representative chosen by AllianceBernstein Venture Fund I, L.P. (Alliance), one
representative chosen collectively by Cross Creek Capital, L.P., Cross Creek Capital
Employees Fund, L.P. and Wasatch Small Cap Growth (collectively, Wasatch), and one
representative chosen by BMSIF shall have the right to attend all meetings of the Board of
Directors, including meetings of any committee of the Board and including the right to
participate in any telephonic board meetings, so long as such Investor holds at least
750,000 shares of Eligible Securities (as adjusted for stock splits and combinations and the
like). Said representative(s) shall be provided with notice of the meetings in the same
manner at the same time as the members of the Board of Directors and shall be provided with
any materials distributed to the Board of Directors in connection with board meetings. The
foregoing visitation rights may be limited by the Board of Directors if (i), upon the advice
of counsel, the Board of Directors determines that exclusion is required by third party
confidentiality agreements, (ii) the Board is discussing engaging Investor or an affiliate
of Investor as a financial advisor or underwriter; or (iii) the Board is discussing a
material transaction with an entity in which Investor or a private equity fund affiliated
with Investor is a 5% or greater shareholder, or (iv) the Board determines in good faith
upon advice of counsel that limitations are required to maintain attorney-client privilege.
SECTION 9 Amendment to Section 6.7. Section 6.7 (Amendment and Waiver) of the Rights
Agreement is hereby amended and restated in its entirety as follows:
6.7 Amendment and Waiver. Any provision of this Agreement may be amended
or waived with the written consent of the Company and the Holders of at least
two-thirds of the outstanding shares of the Registrable Securities then held by
Holders (assuming the exercise or conversion of all outstanding Eligible
Securities); provided, however, (i) that in the event such amendment
or waiver adversely affects the rights and/or obligations of the Founders under this
Agreement in a different manner than the other Holders, such amendment or waiver
shall also require written consent of the Founders holding a majority of the
-3-
then outstanding Founders Shares, (ii) that in the event such amendment or waiver
adversely affects the rights and/or obligations of Lehman, EuclidSR, Piper Jaffray,
GE Capital, Interwest, Alliance, Wasatch or BMSIF under Section 2.4 of this
Agreement, such amendment or waiver shall not be effective as to Lehman, EuclidSR,
Piper Jaffray, GE Capital, Interwest, Alliance, Wasatch or BMSIF, as the case may
be, without the written consent of such party, and (iii) that in the event such
amendment or waiver adversely affects the rights and/or obligations of
Warrantholders under this Agreement in a different manner than the other Holders,
such amendment or waiver shall also require the written consent of Warrantholders
holding a majority of the then outstanding Warrant Shares. Notwithstanding the
foregoing, any purchaser of Series E Preferred Stock pursuant to the Purchase
Agreement may become a party to this Agreement by executing and delivering an
additional counterpart signature page to this Agreement and such purchaser shall be
deemed a Holder and an Investor hereunder. The parties agree that Exhibit A
shall be updated automatically without any formal amendment to reflect the addition
of any such additional party. Any amendment or waiver effected in accordance with
this paragraph shall be binding upon each Holder, the Founders, the holder of the
Other Shares, Warrantholders and the Company. In addition, the Company may waive
performance of any obligation owing to it, as to some or all of the Holders, or
agree to accept alternatives to such performance, without obtaining the consent of
any other Holder. In the event that an underwriting agreement is entered into
between the Company and any Holder, and such underwriting agreement contains terms
differing from this Agreement, as to any such Holder the terms of such underwriting
agreement shall govern.
SECTION 10 Governing Law. This Amendment shall be construed in accordance with, and
governed in all respects by, the laws of the State of California, as applied to agreements entered
into, and to be performed entirely in such state, between residents of such state.
SECTION 11 Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be enforceable against the parties actually executing such
counterparts, and all of which together shall constitute one instrument.
[Remainder of Page Intentionally Blank]
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FLUIDIGM CORPORATION
AMENDMENT NO. 2 TO
EIGHTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT
THIS AMENDMENT NO. 2 (this Amendment) to that certain Eighth Amended and Restated Investor
Rights Agreement, dated as of June 13, 2006, as amended December 22, 2006 (the Rights Agreement),
by and among Fluidigm Corporation, a California corporation (Fluidigm California), and the
Investors and Founders named therein is entered into effective as of October 10, 2007 by and among
Fluidigm Corporation, a Delaware corporation (the Company), the undersigned Investors, and the
undersigned Holders, collectively the Holders of at least two-thirds of the outstanding shares of
the Registrable Securities held by Holders (assuming the exercise or conversion of all outstanding
Eligible Securities). Capitalized terms not defined herein have the meanings set forth in the
Rights Agreement.
RECITALS
WHEREAS, on July 18, 2007, Fluidigm California was merged with and into the Company, with the
Company being the surviving corporation such that the Company succeeded to all of Fluidigm
Californias rights and obligations under the Rights Agreement;
WHEREAS, it is contemplated that the Company will sell and issue additional shares of the
Companys Series E Preferred Stock (Series E Preferred Stock) pursuant to that certain Series E
Preferred Stock Purchase Agreement, dated as of June 13, 2006, as amended December 22, 2006 and
further amended on the date hereof (the Purchase Agreement), by and among the Company and the
Purchasers named therein;
WHEREAS, in connection with the sale of additional shares of Series E Preferred Stock, the
Company and the Holders desire to amend the Rights Agreement to include the additional shares of
Series E Preferred Stock to be issued pursuant to the Purchase Agreement and make certain other
changes as set forth herein; and
WHEREAS, pursuant to Section 6.7 of the Rights Agreement, the Rights Agreement may be amended
with the written consent of the Company and Holders of at least two-thirds of the outstanding
shares of the Registrable Securities then held by Holders (assuming the exercise or conversion of
all outstanding Eligible Securities) and the Company and the undersigned Holders have agreed to
amend the Rights Agreement to provide for the foregoing changes.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, all of the parties
hereto mutually agree as follows:
AGREEMENT
SECTION 12 Amendment to Recital. The first Recital of the Rights Agreement is hereby
amended and restated in its entirety as follows:
WHEREAS, the Company and the New Investors have entered into a Series E Preferred Stock
Purchase Agreement of even date herewith, as amended from time to time (such agreement, as
amended from time to time, the Purchase Agreement), pursuant to which the Company shall
sell, and the New Investors shall acquire, shares of the Companys Series E Preferred
Stock;
SECTION 13 Amendment to Section 1.14. Subsection (a)(i) of Section 1.14 (Standoff
Agreement) of the Rights Agreement is hereby amended and restated in its entirety as follows:
(i) such agreement shall not exceed one hundred and eighty (180) days (or such greater
period, not to exceed 17 days, as may be requested by the Company or an underwriter to
accommodate regulatory restrictions on (i) the publication or other distribution of research
reports and (ii) analyst recommendations and opinions, including, but not limited to, the
restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor
provisions or amendments thereto);
SECTION 14 Deletion of Section 1.15. The Rights Agreement is hereby amended to delete
Section 1.15 (No Right to Delay Registration) in its entirety.
SECTION 15 Amendment to Section 2.4. Section 2.4 (Visitation Rights) of the Rights
Agreement is hereby amended and restated in its entirety as follows:
2.4 Visitation Rights. One representative chosen collectively by LB I Group
Inc., Lehman Brothers P.A. LLC, Lehman Brothers Partnership Account 2000/2001, L.P. and
Lehman Brothers Offshore Partnership Account 2000/2001, L.P. (collectively, Lehman), one
representative chosen collectively by EuclidSR Partners, L.P. and EuclidSR Biotechnology
Partners, L.P. (collectively, EuclidSR), one representative chosen by Piper Jaffray
Healthcare Fund III, L.P. (Piper Jaffray), one representative chosen by GE Capital Equity
Investments, Inc. (GE Capital), one representative chosen collectively by Interwest
Investors VII, L. P. and Interwest Partners VII, L.P. (collectively, Interwest), one
representative chosen by AllianceBernstein Venture Fund I, L.P. (Alliance), one
representative chosen collectively by Cross Creek Capital, L.P., Cross Creek Capital
Employees Fund, L.P. and Wasatch Small Cap Growth (collectively, Wasatch), one
representative chosen by BMSIF, and one representative chosen collectively by the holders of
a majority of the Shares purchased under Amendment No. 2 to the Purchase Agreement
(collectively, the October 2007 Representative) shall have the right to attend all
meetings of the Board of Directors, including meetings of any committee of the Board and
including the right to participate in any telephonic board meetings, so long as such
Investor or the October 2007 Representative holds at least
750,000 shares of Eligible Securities (as adjusted for stock
-2-
splits and combinations and the like). Said representative(s) shall be provided with
notice of the meetings in the same manner at the same time as the members of the Board of
Directors and shall be provided with any materials distributed to the Board of Directors in
connection with board meetings. The foregoing visitation rights may be limited by the Board
of Directors if (i), upon the advice of counsel, the Board of Directors determines that
exclusion is required by third party confidentiality agreements, (ii) the Board is
discussing engaging Investor or an affiliate of Investor as a financial advisor or
underwriter; or (iii) the Board is discussing a material transaction with an entity in which
Investor or a private equity fund affiliated with Investor is a 5% or greater shareholder,
or (iv) the Board determines in good faith upon advice of counsel that limitations are
required to maintain attorney-client privilege.
SECTION 16 Amendment to Section 6.7. Section 6.7 (Amendment and Waiver) of the Rights
Agreement is hereby amended and restated in its entirety as follows:
6.7 Amendment and Waiver. Any provision of this Agreement may be amended or
waived with the written consent of the Company and the Holders of at least two-thirds of the
outstanding shares of the Registrable Securities then held by Holders (assuming the exercise
or conversion of all outstanding Eligible Securities); provided, however,
(i) that in the event such amendment or waiver adversely affects the rights and/or
obligations of the Founders under this Agreement in a different manner than the other
Holders, such amendment or waiver shall also require written consent of the Founders holding
a majority of the then outstanding Founders Shares, (ii) that in the event such amendment or
waiver adversely affects the rights and/or obligations of Lehman, EuclidSR, Piper Jaffray,
GE Capital, Interwest, Alliance, Wasatch, BMSIF or the October 2007 Representative under
Section 2.4 of this Agreement, such amendment or waiver shall not be effective as to Lehman,
EuclidSR, Piper Jaffray, GE Capital, Interwest, Alliance, Wasatch, BMSIF or the October 2007
Representative, as the case may be, without the written consent of such party, and (iii)
that in the event such amendment or waiver adversely affects the rights and/or obligations
of Warrantholders under this Agreement in a different manner than the other Holders, such
amendment or waiver shall also require the written consent of Warrantholders holding a
majority of the then outstanding Warrant Shares. Notwithstanding the foregoing, any
purchaser of Series E Preferred Stock pursuant to the Purchase Agreement may become a party
to this Agreement by executing and delivering an additional counterpart signature page to
this Agreement and such purchaser shall be deemed a Holder and an Investor hereunder. The
parties agree that Exhibit A shall be updated automatically without any formal
amendment to reflect the addition of any such additional party. Any amendment or waiver
effected in accordance with this paragraph shall be binding upon each Holder, the Founders,
the holder of the Other Shares, Warrantholders and the Company. In addition, the Company
may waive performance of any obligation owing to it, as to some or all of the Holders, or
agree to accept alternatives to such performance, without obtaining the
consent of any other Holder. In the event that an underwriting agreement is entered
into between the Company and any Holder, and such underwriting agreement contains terms
-3-
differing from this Agreement, as to any such Holder the terms of such underwriting
agreement shall govern.
SECTION 17 Addition of Section 6.15. The Rights Agreement is hereby amended to add
the following Section 6.15 which reads in its entirety as follows:
6.15 Reincorporation. Each Investor and Founder acknowledges that the Company
completed a reincorporation into the State of Delaware on July 18, 2007 and each Investor
and Founder hereby consents to the assignment of this Agreement to Fluidigm Corporation, a
Delaware corporation, effective as of July 18, 2007.
SECTION 18 Governing Law. This Amendment shall be construed in accordance with, and
governed in all respects by, the laws of the State of California, as applied to agreements entered
into, and to be performed entirely in such state, between residents of such state.
SECTION 19 Rights Agreement. Wherever necessary, all other terms of the Rights
Agreement are hereby amended to be consistent with the terms of this Amendment. Except as
specifically set forth herein, the Rights Agreement shall remain in full force and effect
SECTION 20 Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be enforceable against the parties actually executing such
counterparts, and all of which together shall constitute one instrument.
SECTION 21 Effect of Execution of Amendment by Investor. This Amendment, when
executed and delivered by the Company and an Investor purchasing shares of Series E Preferred
pursuant to the Purchase Agreement as contemplated in the Recitals, shall also constitute and shall
be deemed a counterpart signature page to the Rights Agreement. Consequently, each undersigned
Investor purchasing shares of Series E Preferred acknowledges and agrees that he, she or it is
bound by the terms and conditions contained in the Rights Agreement, as amended by this Amendment.
[Remainder of Page Intentionally Blank]
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FOUNDERS
Gajus V. Worthington
Stephen R. Quake
INVESTORS
Alejandro Berenstein, M.D.
Alfred J. Mandel
Allan Johnson
Allen May, Trustee, Intervivos Trust Dated 5/14/91
AllianceBernstein Venture Fund I, L.P.
Alloy Partners 2002, L.P.
Alloy Ventures 2002, L.P.
Alloy Ventures 2005, L.P.
Analiza, Inc.
Athersys, Inc.
Beveren Company
Biomedical Sciences Investment Fund Pte Ltd
Bradford S. Goodwin and Cathy W. Goodwin As Trustees of the Goodwin Family Trust U/A/D 7/30/97
Bradford W. Baer
Bruce Burrows
Burr & Forman LLP
Burwen Family Trust U/D/T Dated 9/30/88
Charles C. Moore
Charles R. Engles
Clark-Boyd Family Trust
Cross Creek Capital Employees Fund, L.P.
Cross Creek Capital, L.P.
David S. Frampton and Gaja Roberta Frampton, as Trustees of the Frampton Family Trust Dtd 4/25/03
Dwayne Hardy
Edward R. LeMoure
Erick Vanderburg
Erik T. Engelson, Trustee of the Elisabeth North Kuechler Engelson Trust UTA dated January 17, 2001
Erik T. Engelson, Trustee of the Erik T. Engelson Trust UTD dated March 29, 2000
EuclidSR Biotechnology Partners, L.P.
EuclidSR Partners, L.P.
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Fidelity Contrafund: Fidelity Advisor New Insights Fund
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Frances H. Arnold
Fred St. Goar
Fredrick Stern
Gary R. Bang
GE Capital Equity Investments, Inc.
General Electric Capital Corporation
George S. Taylor
Glaxo Group Limited
Health Care Administration Company
Heath Lukatch
Henry P. Massey, Jr. TTEE Massey Family Trust U/A DTD 7/06/88
Herbert L. Heyneker
Howard R. Engelson
Howard R. Engelson and Mariam T. Engelson, Ttees Engelson Fam Tr UA DTD 5/26/94
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Interwest Investors VII, L.P.
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James W. Larrick, M.D.
John E. Strobeck, Ph.D., M.D.
John East
John M. Harland
Jonathan S. Hoot and Andrea T. Hoot, Trustees of the Hoot Family Revocable Trust DTD 3/16/99
Joseph M. Jacobson
Kenneth A. Clark
Kiley Revocable Trust
Kristin T. McClanahan Trust
Leerink Swann Co-Investment Fund, LLC
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Lehman Brothers Healthcare Venture Capital L.P.
Lehman Brothers Offshore Partnership Account 2000/2001, L.P.
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Leo J. Parry, Jr. and Roberta J. Parry TTEES Parry Family Revocable Trust DTD 01/22/97
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Lilly Bio Ventures, Eli Lilly and Company
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Matthew Collier
Matthew Frank
Michael H. McKay
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Pamela East
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Patrick Tenney
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Peter B. Dervan
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The Condon Family Trust
The Heckmann Family Trust
The UAB Research Foundation
The V Foundation for Cancer Research
Thomas J. Parry
Thomas L. Barton
Tim L. Traff Trust
Timothy P. Lynch
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EXHIBIT
E
FORM
OF LEGAL OPINION
June , 2006
AllianceBernstein L.P.
1345 Avenue of the Americas
New York, New York 10105
Ladies and Gentlemen:
Reference is made to the Series E Preferred Stock Purchase Agreement dated as of June , 2006
(the Agreement) by and among Fluidigm Corporation, a California corporation (the Company), and
the persons and entities listed in Exhibit A to the Agreement (the Investors), which provides for
the issuance by the Company to the Investors of shares of Series E Preferred Stock of the Company
(the Shares). This opinion is rendered to the Investors in the Initial Closing pursuant to
Section 4.5 of the Agreement, and all terms used herein have the meanings defined for them in the
Agreement unless otherwise defined herein. Reference in this opinion to the Agreement excludes any
schedule or substantive agreement attached as an exhibit to the Agreement, unless otherwise
indicated herein.
We have acted as counsel for the Company in connection with the negotiation of the Agreement
and the Investor Rights Agreement (collectively, the Transaction Documents) and the issuance of
the Shares. As such counsel, we have made such legal and factual examinations and inquiries as we
have deemed advisable or necessary for the purpose of rendering this opinion. In addition, we have
examined originals or copies of such corporate records of the Company, certificates of public
officials and such other documents which we consider necessary or advisable for the purpose of
rendering this opinion. In such examination we have assumed the genuineness of all signatures on
original documents, the authenticity and completeness of all documents submitted to us as
originals, the conformity to original documents of all copies submitted to us and the due execution
and delivery of all documents (except as to due execution and delivery by the Company) where due
execution and delivery are a prerequisite to the effectiveness thereof.
As used in this opinion, the expression to our knowledge, known to us or similar language
with reference to matters of fact refers to the current actual knowledge of attorneys of this firm
who have worked on matters for the Company in connection with the Agreement and the transactions
contemplated thereby. Except to the extent expressly set forth herein or as we otherwise believe
to be necessary to our opinion, we have not undertaken any independent investigation to determine
the existence or absence of any fact, and no inference as to our knowledge of the existence or
absence of any fact should be drawn from our representation of the Company or the rendering of the
opinion set forth below.
AllianceBernstein L.P.
Dated as of June , 2006
Page 2
For purposes of this opinion, we are assuming that each Investor has all requisite power and
authority, and has taken any and all necessary corporate or partnership action, to execute and
deliver the Transaction Documents and to effect any and all transactions related to or contemplated
thereby. In addition, we are assuming that the Investors have purchased the Shares for value, in
good faith and without notice of any adverse claims within the meaning of the California Uniform
Commercial Code.
We are members of the Bar of the State of California and we express no opinion as to any
matter relating to the laws of any jurisdiction other than the federal laws of the United States of
America and the laws of the State of California.
In rendering the opinion in paragraph 6 below, we note that we have not conducted a docket
search in any jurisdiction with respect to litigation that may be pending against the Company or
any of its officers or directors. We further note the disclosure under Section 2.10 of the
Schedule of Exceptions to the Agreement. Please be advised that we have not represented the
Company with respect to the matters disclosed in Section 2.10 of the Schedule of Exceptions and
express no opinion with respect to any matter discussed therein.
The opinions hereinafter expressed are subject to the following additional qualifications:
(a) We express no opinion as to the effect of applicable bankruptcy, insolvency,
reorganization, moratorium or other similar federal or state laws affecting the rights of
creditors.
(b) We express no opinion as to the effect or availability of rules of law governing specific
performance, injunctive relief or other equitable remedies (regardless of whether any such remedy
is considered in a proceeding at law or in equity).
(c) This opinion is qualified by the limitations imposed by statutes and principles of law and
equity that provide that certain covenants and provisions of agreements are unenforceable where
such covenants or provisions are unconscionable or contrary to public policy or where enforcement
of such covenants or provisions under the circumstances would violate the enforcing partys implied
covenant of good faith and fair dealing.
(d) Our opinion in the first sentence of paragraph 1 below is based solely on the certificates
of public officials and filing officers as to the corporate and tax good standing of the Company in
the State of California.
(e) Our opinions set forth in paragraph 3 below relating to the outstanding capital stock of the
Company and outstanding options, warrants or similar rights to acquire shares of the Companys
capital stock are based solely on (i) our review of a report from eProsper, Inc., the
AllianceBernstein L.P.
Dated as of June , 2006
Page 3
Companys transfer agent, detailing the holders of securities of the Company and the number
and type of securities held by such holders (the Transfer Agent Report) and (ii) a certificate
delivered to us by the Company regarding factual matters underlying the opinions set forth herein.
Our opinion in paragraph 3 below that the issued and outstanding shares of Common Stock and
Preferred Stock of the Company are fully paid and non-assessable is based solely on a certificate
of an officer of the Company that the Company received, in payment for such shares, the full
consideration required by the resolutions of the Board of Directors of the Company authorizing the
issuance of such shares.
(f) For purposes of our opinions in paragraph 2 and paragraph 4 below, we have assumed that
the Transfer Agent Report is accurate and complete in all respects.
(g) We express no opinion as to compliance with the anti-fraud provisions of applicable
securities laws.
(h) We express no opinion as to the enforceability of any indemnification or contribution
provision, including, without limitation, the indemnification and contribution provisions of the
Investor Rights Agreement and the indemnification provision in the Agreement, to the extent the
provisions thereof may be subject to limitations of public policy and the effect of applicable
statutes and judicial decisions.
(i) We express no opinion as to the enforceability of choice of law provisions, waivers of
jury trial or provisions relating to venue or jurisdiction.
(j) We have made no inquiry into, and express no opinion with respect to, any federal or state
statute, rule, or regulation relating to any tax, antitrust, land use, safety, environmental,
hazardous material, patent, copyright, trademark or trade name matter, as to the statutes,
regulations, treaties or common laws of any other nation (other than the United States), state or
jurisdiction (other than the State of California), or the effect on the transactions contemplated
in the Transaction Documents of noncompliance under any such statues, regulations, treaties, or
common laws. Without limiting the foregoing, we express no opinion as to the effect of, or
compliance with, the Investment Advisors Act of 1940, as amended, or the Employee Retirement Income
Security Act of 1974, as amended. We further disclaim any opinion as to any statute, rule,
regulation, ordinance, order, or other promulgation of any regional or local governmental body or
as to any related judicial or administrative opinion.
(k) Our opinions relate solely to the express written provisions of the Transaction Documents,
and we express no opinion as to any other oral or written agreements or understandings between the
Company or any of the Investors.
AllianceBernstein L.P.
Dated as of June , 2006
Page 4
Based upon and subject to the foregoing, and except as set forth in the Schedule of Exceptions
to the Agreement, we are of the opinion that:
1. The Company is a corporation duly incorporated and validly existing under, and by virtue
of, the laws of the State of California and is in good standing under such laws. The Company has
requisite corporate power to own and operate its properties and assets, and to carry on its
business as presently conducted.
2. The Company has all requisite legal and corporate power to execute and deliver the
Transaction Documents, to sell and issue the Shares under the Agreement, to issue the Common Stock
issuable upon conversion of the Shares and to carry out and perform its obligations under the terms
of the Transaction Documents.
3. The authorized capital stock of the Company consists of 77,857,144 shares of Common Stock,
9,274,356 shares of which are issued and outstanding, and 51,687,948 shares of Preferred Stock,
2,727,273 of which are designated Series A Preferred Stock, 2,727,273 shares of which are issued
and outstanding, 6,460,675 of which are designated Series B Preferred Stock, 6,460,675 shares of
which are issued and outstanding, 17,000,000 of which are designated Series C Preferred Stock,
16,364,832 shares of which are issued and outstanding, 15,500,000 shares of Series D Preferred
Stock, 11,714,048 of which are issued and outstanding, and 10,000,000 shares of Series E Preferred
Stock, none of which has been issued or outstanding immediately prior to the Initial Closing. All
such issued and outstanding shares of Common Stock and Preferred Stock have been duly authorized
and validly issued and are fully paid and nonassessable. The Company has reserved:
(i) 5,000,000 shares of Series E Preferred Stock for issuance pursuant to the Agreement and
5,000,000 shares of Common Stock for issuance upon conversion of such shares of Series E Preferred
Stock; (ii) 11,714,048 shares of Common Stock for issuance upon conversion of the Series D
Preferred Stock, (iii) 916,335 shares of Series D Preferred Stock for issuance upon exercise of
outstanding warrants and 916,335 shares of Common Stock for issuance upon conversion of such Series
D Preferred Stock; (iv) 16,364,832 shares of Common Stock for issuance upon conversion of the
Series C Preferred Stock; (v) 294,868 shares of Series C Preferred Stock for issuance upon exercise
of outstanding warrants and 294,868 shares of Common Stock for issuance upon conversion of such
Series C Preferred Stock; (vi) 6,460,675 shares of Common Stock for issuance upon
conversion of the Series B Preferred Stock; (vii) 2,727,273 shares of Common Stock for
issuance upon conversion of the Series A Preferred Stock; and (viii) an aggregate of 10,800,000
shares of Common Stock for issuance to employees and consultants of the Company pursuant to the
Companys 1999 Stock Option Plan (the Option Plan), pursuant to which options to purchase
5,597,763 shares are granted and outstanding and 1,554,643 shares are available for future grant.
The Common Stock issuable upon conversion of the Shares has been duly authorized and duly and
validly reserved, and when issued in accordance with the Companys Articles of Incorporation, will
AllianceBernstein L.P.
Dated as of June , 2006
Page 5
be validly issued, fully paid and nonassessable. The Shares issued under the
Agreement are duly authorized, validly issued, fully paid and nonassessable and are free of any
liens, encumbrances and preemptive or similar rights contained in the Articles of Incorporation or
Bylaws of the Company, or, to our knowledge, in any written agreement to which the Company is a
party, except as specifically provided in the Agreement (including its Exhibits) and except for
liens or encumbrances created by or imposed upon the Investors; provided, however, that
the Shares (and the Common Stock issuable upon conversion thereof) are subject to restrictions on
transfer under applicable state and federal securities laws. To our knowledge, except for rights
described above, in the Transaction Documents (including the Schedule of Exceptions to the
Agreement) or in the Articles of Incorporation of the Company, as of the date of the Agreement,
there are no other options, warrants, conversion privileges or other rights in writing presently
outstanding to purchase or otherwise acquire any authorized but unissued shares of capital stock or
other securities of the Company, or any other written agreements of the Company to issue any such
securities or rights; provided, however, we note the Companys intent to comply
with Section 3 of the Investor Rights Agreement following the Initial Closing.
4. All corporate action on the part of the Company, its directors and shareholders necessary
for the authorization, execution and delivery of the Transaction Documents by the Company, the
authorization, sale, issuance and delivery of the Shares (and the Common Stock issuable upon
conversion thereof) and the performance by the Company of its obligations under the Transaction
Documents (other than those registration obligations contained in Section 1 of the Investor Rights
Agreement) has been taken. The Transaction Documents have been duly and validly executed and
delivered by the Company and constitute a valid and binding obligation of the Company, enforceable
against the Company in accordance with their terms.
5. The execution and delivery by the Company of the Transaction Documents, the performance by
the Company of its obligations under the Transaction Documents, and the issuance of the Shares (and
the Common Stock issuable upon conversion thereof) do not violate any provision of the Articles of
Incorporation or Bylaws, or any provision of any applicable federal or state law, rule or
regulation known to us to be customarily applicable to transactions of this nature. The execution
and delivery by the Company of the Transaction Documents, the performance by the Company of its
obligations under the Transaction Documents, and the issuance of the Shares (and the Common Stock
issuable upon conversion thereof) do not violate any judgment or decree known to us that is binding
upon the Company.
6. Except as identified in the Agreement (including the Schedule of Exceptions), to our
knowledge, there are no actions, suits, proceedings or investigations pending against the Company
or its properties before any court or governmental agency nor, to our knowledge, has the Company
received any written threat thereof.
AllianceBernstein L.P.
Dated as of June , 2006
Page 6
7. No consent, approval or authorization of or designation, declaration or filing with any
governmental authority on the part of the Company is required in connection with the valid
execution and delivery of the Transaction Documents, or the offer, sale or issuance of the Shares
(and the Common Stock issuable upon conversion thereof) or the consummation by the Company of any
other transaction contemplated by the Transaction Documents, except (a) the filing of the Amended
and Restated Articles of Incorporation in the Office of the Secretary of State of the State of
California, and (b) subject to the accuracy of the representations and warranties of the Investors
in Section 3 of the Agreement, (i) the filing after the Closing of a Form D pursuant to Regulation
D, promulgated by the United States Securities and Exchange Commission (the SEC) under the
Securities Act of 1933, as amended (the Securities Act), with the SEC, and (ii) the post-Closing
qualification (or the taking of such action post-Closing as may be necessary to secure an exemption
from qualification) under applicable state securities laws of the offer and sale of the Shares (and
the Common Stock issuable upon conversion thereof). The filing referred to in clause (a) above has
been accomplished and is effective. Our opinion herein is otherwise subject to the timely and
proper completion of all filings and other actions contemplated herein where such filings and
actions are to be undertaken on or after the date hereof.
8. Subject to the accuracy of the Investors representations in Section 3 of the Agreement,
the offer, sale and issuance of the Shares (and the Common Stock issuable upon
conversion thereof) in conformity with the terms of the Agreement constitute transactions
exempt from the registration requirements of Section 5 of the Securities Act.
This opinion is furnished to the Investors solely for their benefit in connection with the
purchase of the Shares, and may not be relied upon by any other person or for any other purpose
without our prior written consent. We assume no obligation to inform you of any facts,
circumstances, events or changes in the law that may arise or be brought to our attention after the
date of this opinion that may alter, affect or modify the opinions expressed herein.