In connection with the Financing, Mr. Cao entered into a Lock-up Agreement with the Company, by which he agreed not to transfer any shares of the Company's common stock owned by him until 18 months after the effective date of the initial registration statement filed by the Company with respect to the resale of the shares of common stock underlying the Notes and the Warrants.
The foregoing descriptions of the Securities Purchase Agreement, the Notes, the Warrants, the Make Good Escrow Agreement, the Holdback Escrow Agreement, the Registration Rights Agreement and the Lock-up Agreement are merely summaries, are not intended to be complete and are qualified in their entirety by reference to the full text of each of these agreements.. The Securities Purchase Agreement is filed as exhibit 10.1, a form of the Notes is filed as exhibit 4.1, a form of the Warrants is filed as exhibit 4.2, the Make Good Escrow Agreement is filed as exhibit 10.2, the Holdback Escrow Agreement is filed as exhibit 10.3, the Registration Rights Agreement is filed as exhibit 10.4 and the Lock-up Agreement is filed as exhibit 10.5 to this Form 8-K, and the full text of each such exhibit is incorporated herein by reference.