Amarantus Bioscience Holdings Inc (AMBS)

[newflow]

Dividend ?
In connection with the Exchange Agreement, on the Effective Date, the Company entered into an escrow agreement dated May 11, 2016 by and among the Company, the Buyer, AMDX, holders of the Company’s secured debt (“Secured Holders”) and Robinson Brog Leinwand Greene Genovese & Gluck P.C., a professional corporation organized and existing under the laws of the State of New York, as Escrow Agent (the “Escrow Agreement”) pursuant to which the AMDX Consideration and Additional AMDX Consideration (collectively, the “Escrow Shares”) was deposited into escrow with the Escrow Agent to be held in escrow for the Lock-Up Period. 1.5 million of the Escrow Shares can be released to the Secured Holders for any event of default under the agreements between the Secured Holders and the Company. In addition, 7.25 million of the Escrow Shares can be released to the Company to repay certain notes and 7.25 million of the Escrow Shares can be released to the Company in connection with a stock dividend by the Company to its holders of common stock. The remaining 74 million of the Escrow Shares can be sold and assigned by the Company; provided that no less than 70% of the net proceeds from any sale shall be used to repay certain notes of the Company or redeem outstanding shares of preferred stock.