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Maxim additionally obtained warrants to buy 171,911 shares of our Common Stock at a price per share of $5.06 (the “Placement Agent Warrants”). In connection with the offering, we issued a complete of two,455,863 shares of Series A Convertible Preferred Shares and 982,362 Series A Warrants to the traders. In reference to the Private Placement, Maxim Group, LLC acted as our monetary Turkish Law Firm advisor and placement agent (the “Placement Agent”). If any Investor transfers Investor Shares bought pursuant to the Purchase Agreement, the rights to the Escrow Shares shall similarly transfer to such transferee, with no further action required by the Investor, the transferee or us. We also agreed to pay for the entire cheap bills the Placement Agent incurred in connection with the Offerin Maxim acquired a cash fee equal to 7% of the gross proceeds of the Private Placement.
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