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S-3/A Filing
Gaia (GAIA) S-3/AShelf registration (amended)
Filed: 5 May 06, 12:00am
Exhibit 5.1
Opinion of Bartlit Beck Herman Palenchar & Scott LLP
Bartlit Beck Herman Palenchar & Scott
1899 Wynkoop, Suite 800
Denver, Colorado 80202
April 24, 2006
Gaiam, Inc.
360 Interlocken Blvd.
Broomfield, Colorado 80021
Ladies and Gentlemen:
We have acted as counsel to Gaiam, Inc., a Colorado corporation ("Gaiam"), in connection with the preparation of Gaiam's Registration Statement on Form S-3 (the "Registration Statement") filed with the Securities and Exchange Commission (the "Commission"). The Registration Statement relates to the proposed issuance and sale, from time to time, pursuant to Rule 415 under the Securities Act of 1933, as set forth in the Registration Statement, the prospectus contained therein (the "Prospectus") and the supplements to the prospectus referred to therein (the "Prospectus Supplements"), of up to $100,000,000 of Gaiam's Class A common stock, par value $0.0001 per share ("Common Stock") by Gaiam.
In connection with this opinion, we have examined and relied upon the Registration Statement and the related prospectuses, Gaiam's Articles of Incorporation and Bylaws, and the originals or copies certified to our satisfaction of such records, documents, certificates, memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed:
Based upon the foregoing and subject to the assumptions, qualifications, limitations and exceptions set forth herein, we are of the opinion that the shares of Common Stock to be issued pursuant to the Registration Statement will be legally issued, fully paid and nonassessable when:
We express no opinion herein as to the effect or applicability of the laws of any jurisdiction other than the federal laws of the United States of America and the laws of the State of Colorado. Our opinions are subject to the effects of, and we express no opinion with respect to the application of or compliance with, state securities or "blue sky" laws, statutes, rules or regulations.
We hereby consent to the filing of this opinion as an exhibit to the above-referenced Registration Statement and to the use of our name wherever it appears in the Registration Statement, the Prospectus, any Prospectus Supplement, and in any amendment or supplement thereto. In giving such consent, we do not believe that we are "experts" within the meaning of such term as used in the Securities Act or the rules and regulations of the Commission issued thereunder with respect to any part of the Registration Statement, including this opinion as an exhibit or otherwise.
Very truly yours,
/s/ Bartlit Beck Herman Palenchar & Scott LLP
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