After the name Huadun Biotech was proposed, it quickly received unanimous approval from everyone present, and was finally selected as the official name of the joint venture.
at the same time.
The Chairman of the New Venture Fund also sent a reply to everyone’s previous share distribution plan:
pass!
At this point, Huadun Biotech’s equity dispute has been completed, and the remaining step is the last step...
Contract signed!
It's a coincidence.
As the secretary-general of the New Venture Fund, Zheng Zu will definitely carry his official seal with him. Tian Liangwei's official seal is in the office. As for Academician Pan... he brought the "Application Form" and "Guarantee", so the official seal will naturally be with him.
Will not fall.
As a natural person, Xu Yun does not need a seal. As long as he signs it, it will have legal effect, so he has the conditions to directly sign the contract on site.
Zheng Zu then took out the drafted equity distribution contract, and the three official seals of the HKUST New Venture Fund, the School of Physics, and the School of Life Sciences were placed in sequence.
The full name of this contract is the "Initial Equity Distribution Agreement of Huadun Biotechnology Co., Ltd.", hereinafter referred to as the Agreement.
The agreement stipulates that the HKUST New Venture Fund, the School of Physics, the School of Life Sciences and the natural person Xu Yun have reached an agreement on investment and cooperation. The full name of the business unit is Huadun Biotechnology Co., Ltd.
Register 13 million Huaxia coins and subscribe in full for the first installment.
This round of agreement is a non-financial investment round, but if the financing phase starts in the future, Series B will be directly used as the starting round.
The lead investor in this round of funding is HKUST New Venture Fund, which injected cash flow of 8 million Chinese dollars and additional resources, accounting for 27% of the shares.
The co-investing units are the School of Physics of USTC and the School of Life Sciences of USTC. Each party will invest cash flow of 2 million and additional resources, each holding 10% of the shares, totaling 20%.
Xu Yun, a natural person, invested in the company in the form of capital and technology, injecting 1 million in cash. The technical name is fifth-generation imidacloprid and its commercial derivatives, accounting for 38% of the shares.
15% of the employee option pool is used for ESOP, which is the employee option plan. The distribution target will be determined by the board of directors within the limits specified by the option pool.
The company adopts a dual-class share model, with Xu Yun serving as the legal person and the first CEO. COO, CTO and other related positions will be appointed later.
The company account is jointly opened by the above four parties and is a public account. Xu Yun has the right to use part of the funds, but he must regularly disclose the whereabouts of the funds and take responsibility.
Xu Yun then took a deep breath and signed his name after the three official seals:
Xu Yun.
From a purely results perspective, this agreement should be considered the most perfect result.
Xu Yun holds 38% of the shares, but due to the use of AB shares, Xu Yun currently holds 90.1% of the voting rights.
Of course.
With the future development of Huadun Biotech, this number will definitely drop further, stabilizing to 68%-73%, which is considered a reasonable line.
As for the University of Science and Technology, although the company is divided into funds and shareholding modules of the two colleges, these three modules all belong to the University of Science and Technology and the Academy of Sciences system.
The combined shares of the ‘HKUST Department’ are as high as 47%, and there is no problem wherever they get them.
In addition, the four parties also determined the number of seats on the board of directors:
The two executive directors of the company are Xu Yun and Tian Liangwei.
There are also five board seats, shared equally between the Foundation, the School of Physics and the School of Life Sciences.
Independent directors have not been established for the time being, after all, the company has not yet been listed.
These directors are mainly representatives of the employer. Unless Xu Yun does something like emptying his account of money, they are basically mascots.
Gangster subsidies, showing up in financial reports and so on.
After the agreement was signed, Academician Pan took back the official seal and joked:
"Director Xu, congratulations. Whether we eat abalone or fish next depends entirely on you."
"...."
Xu Yun glanced at him speechlessly:
"You might as well call me Xiao Xu. The word Xu Dong makes me panic..."
Academician Pan smiled and patted his shoulder, then his expression gradually became serious:
"Xiao Xu, the company is now established, but what should we do next? Do you have any specific ideas?"
Seeing this, Xu Yun's expression became serious. He pondered for a moment and replied:
"Director Pan, I actually considered this issue before I came here. The first is the company registration process. The production of biopesticides requires review by both the agricultural and commercial departments, which is more complicated than ordinary..."
Before Xu Yun finished speaking, Zheng Zu slapped his chest and interrupted:
"Dr. Xu, just leave the issue of the company's business scope to the New Venture Fund. We have special channels and we should be able to solve it within two weeks."
"That couldn't be better."
Xu Yun breathed a sigh of relief. Company registration was actually the aspect he was most unsure about. Now that a new start-up company can help solve it, it is undoubtedly a big burden relieved.
Then he continued:
“In addition to company registration, there are only three other things left:
First, the establishment of the company from large-scale mass production to output needs to take into account the site, equipment, sales channels, etc.
The second is patent approval and paper publication, which involves the uniqueness of our products.
The third thing is the candidates for the company’s functional departments. At least we have to get the COO first..."
Hearing Xu Yun's words, Tian Liangwei couldn't help but turn his head and look at Academician Pan:
The entire discussion is sound and well-founded. Come to think of it, this disciple of mine was not overly inflated because he suddenly owned a company.
This is undoubtedly a good thing.
After a while, Tian Liangwei asked:
"Xiao Xu, how long will it take to finish your thesis?"
Xu Yun pondered for a moment and reported a time:
“Definitely next time!”
"speak English."
"...within two days."
Tian Liangwei touched his chin and nodded slightly:
"Okay, I'll go find someone after the meeting and send you the invitation letter for the journal first.
The school has a dedicated team for patent application, so the problem is not big, but as for the venue and equipment...
Xiao Xu, I’m afraid you’ll have to catch it yourself. The hospital will at most set up a line for you, so you have to have some confidence in this.”
As a mainland provincial capital, Luzhou does not have many suitable areas for long-term factories.
Some sophisticated modern factories are basically concentrated in the high-tech industrial development zone, which is the original Luzhou Industrial Park.
For example, the National Quantitative Information Laboratory that Academician Pan is in charge of has a five-year national plan with a total investment of 100 billion yuan, and the first phase investment is 7 billion yuan. It is located in the High-tech Zone.
Therefore, Huadun Biotech's factory location will definitely be located in that area.
However, the area is demarcated, and Xu Yun needs to negotiate the specific site, price, and lease period himself.
This can be regarded as a test given by Tian Liangwei and Academician Pan - Xu Yun is the executive director of the company, so how can he succeed if he relies on the school for everything?
As the saying goes.
Only silver-like pewter gun heads can be cultivated in the greenhouse, and long-lasting small steel cannons can be born only in actual combat.
As Xu Yun is one of the executive directors who holds the company's decision-making power, Tian Liangwei would rather he spend more money on establishing offline modules than to be hung up and beaten after the product is launched.
At the same time, Academician Pan on the side suddenly thought of something:
"By the way, Xiao Xu, if you want to form a management team, I have a few candidates to recommend."