FIGS enters binding term sheet with Baron Capital; standstill and voting restrictions imposed

FIGS, Inc.

Binding Term Sheet signed Jan 13, 2025 with Baron Capital; parties to execute a stockholders agreement.
Baron restricted from buying additional equity without consent while holding at least 17.5% of Class A common stock, excluding certain Put-Call Shares.
During standstill, Baron must vote shares exceeding 25% of outstanding in favor of company-nominated directors.
Put-Call Shares from Jan 7 agreement with Thomas J. Tull are carved out from purchase and transfer restrictions.
SHA to grant Baron customary demand, piggyback, and shelf registration rights.

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