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Waitr Holdings Inc. | | 2 | | December 17, 2021 |
that are certified, conformed, reproduction, photostatic or other copies, (iv) the legal capacity of all natural persons executing documents, (v) that, upon the issuance of the Shares, the Shares will be uncertificated and that the statements required by Section 151(f) of the DGCL will be furnished in accordance with the DGCL and (vi) that, upon the issuance of the Shares, such issuance will be duly recorded in the stock ledger of the Company.
Based upon and subject to the foregoing and the assumptions, qualifications and limitations hereinafter set forth, we are of the opinion that the Shares have been duly authorized and, that when (A) the number of Shares to be offered, issued and sold by the Company from time to time and the respective purchase prices, Sales Agent’s discounts or commissions, and times and dates of offering, issuance and sale, and the offering, issuance and sale thereof, have been duly authorized and approved by duly authorized officers of the Company, acting together if so required, all as provided in, and in compliance with the parameters, limitations and other terms set forth in resolutions duly adopted by the Company’s Board of Directors or any duly authorized committees thereof, and agreed upon by the Company, the Sales Agent and the purchasers thereof and (B) such Shares are duly issued and delivered by the Company in accordance with the Open Market Sale Agreement against receipt by the Company of the agreed upon purchase price therefor, such Shares will be validly issued, fully paid and non-assessable under the DGCL.
In rendering the opinion set forth in the immediately preceding paragraph, we have assumed that the net proceeds received by the Company (after deduction of discounts and commissions) for each Share issued or sold pursuant to the Open Market Sale Agreement will equal or exceed the par value thereof and that, at the time of any issuance of Shares pursuant to the Open Market Sale Agreement, the number of such Shares will not exceed the number of authorized and unissued shares of Common Stock that have not been reserved for issuance for other purposes.
We express no opinion as to the laws of any jurisdiction other than the DGCL, as in effect on the date hereof, and we do not express any opinion herein concerning any other laws.
We hereby consent to the filing of this opinion as an exhibit to the Company’s Current Report on Form 8-K filed on December 17, 2021, incorporated by reference in the Registration Statement, and to the reference to our firm under the caption “Legal Matters” in the Prospectus Supplement. In giving such consent, we do not thereby concede 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 thereunder.
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Very truly yours, |
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/s/ Debevoise & Plimpton LLP |