TNTRQ Tintri Inc (CE)

On February 26, 2018, Tintri, Inc. (the “Company”) issued an aggregate of $12.3 million of convertible promissory notes (“Notes”) under that certain Note Purchase Agreement (the “Note Purchase Agreement”) that it entered into with certain of its stockholders in May 2017, as amended in June 2017, a copy of which has been filed as Exhibit 10.16 to the Company’s Registration Statement on Form S-1/A as filed with the Securities and Exchange Commission on June 29, 2017. On February 27, 2018, the Company issued an additional $10.8 million of Notes, and expects to issue an additional $1.9 million of convertible promissory notes on or about March 5, 2018.

Under the Note Purchase Agreement, the Company agreed to sell Notes having a maximum aggregate principal amount of $25.0 million subject to the terms and conditions set forth in the Note Purchase Agreement. The Notes have an interest rate of 8% per annum and will mature 18 months from the date of issuance. If the Notes remain outstanding on or after December 1, 2019, at the Company’s election, pursuant to the approval of a majority of the members of the Company’s board of directors, the Notes will convert into shares of the Company’s common stock at the IPO price of $7.00 per share, provided that any Notes issued to entities affiliated with one of the Company’s existing stockholders that is a party to the Note Purchase Agreement will be converted at the average price of the Company’s common stock on the NASDAQ Stock Market over the 30-day period preceding the conversion. The Notes are subject to acceleration upon the occurrence of an event of default, which include nonpayment, breach of representations and warranties, breach of covenants and the occurrence of certain bankruptcy or insolvency events.