Exhibit 5.1
 | Seaport West 155 Seaport Boulevard Boston, MA 02210-2600
617 832 1000 main 617 832 7000 fax |
November 22, 2021 |
Aware, Inc. 40 Middlesex Turnpike Bedford, MA 01730 |
Ladies and Gentlemen:
We have reviewed the Registration Statement on Form S-8 (the “Registration Statement”) being filed by Aware, Inc., a Massachusetts corporation (the “Company”), with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), on the date hereof. The Registration Statement relates to the offer and sale by the Company of up to 1,000,000 shares (the “Shares”) of its common stock, par value $0.01 per share (“Common Stock”), issuable under the Company’s 2021 Employee Stock Purchase Plan (the “2021 ESPP”).
In arriving at the opinions expressed below, we have examined and relied upon the Amended and Restated Articles of Organization and Amended and Restated By-Laws of the Company, the records of meetings and consents of the Company’s Board of Directors and of its stockholders, and the 2021 ESPP, each as provided to us by the Company. In addition, we have examined and relied on the originals or copies certified or otherwise identified to our satisfaction of all such corporate records of the Company and such other documents and certificates of public officials, officers and representatives of the Company and such other persons, and we have made such investigations of law, as we have deemed appropriate as a basis for the opinions expressed below.
We have assumed that the purchase price or other consideration to be received by the Company for the Shares will be valid consideration equal to or in excess of the par value thereof.
The opinions expressed below are limited to the internal laws of the Commonwealth of Massachusetts.
On the basis of the foregoing, it is our opinion that the Shares, when issued and delivered against the Company’s receipt of the purchase price or other consideration therefor in accordance with the applicable terms of the 2021 ESPP, will be validly issued, fully paid and non-assessable.
| ATTORNEYS AT LAW | BOSTON | NEW YORK | PARIS | WASHINGTON | FOLEYHOAG.COM |
Aware, Inc.
November 22, 2021
Page 2
This opinion is to be used only in connection with the offer and sale of the Shares while the Registration Statement is in effect.
This opinion is being delivered solely for the benefit of the Company and such other persons as are entitled to rely upon it pursuant to the applicable provisions of the Securities Act. This opinion may not be used, quoted, relied upon or referred to for any other purpose, nor may it be used, quoted, relied upon or referred to by any other person, for any purpose, without our prior written consent.
We consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to us under the heading “Item 5. Interests of Named Experts and Counsel” in the Registration Statement. In giving such consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.
This opinion letter shall be interpreted in accordance with the Core Opinion Principles jointly issued by the Committee on Legal Opinions of the American Bar Association’s Business Law Section and the Working Group on Legal Opinions Foundation as published in 74 Business Lawyer 815 (2019).
| Very truly yours, | ||
| FOLEY HOAGLLP | ||
| By: | /s/ Daniel S. Clevenger | |
| a Partner | ||