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Allen
Matkins Leck Gamble Mallory & Natsis LLP
Attorneys at Law
1900 Main Street, 5th Floor | Irvine, CA
92614-7321
Telephone: 949.553.1313 | Facsimile:
949.553.8354
www.allenmatkins.com
Keith
Paul Bishop
E-mail:
kbishop@allenmatkins.com
Direct
Dial: 949.851.5428 File Number:
119520-00002/OC1283052.01
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March
11, 2021
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AutoWeb,
Inc.
6410
Oak Canyon, Suite 250
Irvine,
CA 92618-5214
Attention:
Glenn E. Fuller, Esq.
Executive
Vice President,
Chief
Legal Officer and Secretary
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Re:
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AutoWeb,
Inc. — Registration Statement on Form S-8
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Dear
Ladies and Gentlemen:
We have
acted as counsel to AutoWeb, Inc., a Delaware corporation (the
“Company”), in
connection with the registration on Form S-8 (the
“Registration
Statement”) under the Securities Act of 1933, as
amended, (the “Securities
Act”) of the offer and sale of 411,667 shares of the
Company’s common stock, par value $0.001 per share, (the
“Shares”)
authorized for issuance pursuant to Inducement Stock Option Award
Agreements entered into between the Company and Sara Partin, Joseph
Hannan, Daniel Ingle, and Michael Sadowski (the “Award Agreements”). This
opinion is being furnished in accordance with the requirements of
Item 8 of Form S-8 and Item 601(b)(5) of
Regulation S-K.
We have
reviewed the Company’s charter documents, originals or copies
of certificates of the Delaware Secretary of State and an officer
of the Company, and such other documents relating to the Company as
we have deemed material for purposes of this opinion. In our
examination, we have assumed the genuineness of all signatures, the
authenticity of all documents, certificates and instruments
submitted to us as originals and the conformity with originals of
all documents submitted to us as copies. Our opinion is
expressed only with respect to the General Corporation Law of the
State of Delaware (the “DGCL”). Other than as
expressly stated herein with respect to the issuance of the Shares,
we express no opinion as to: (i) whether the laws of any particular
jurisdiction other than the DGCL are applicable to the subject
matter hereof; (ii) any matter pertaining to the contents of the
Registration Statement and any related prospectus(es); and (iii)
compliance with any federal or state antifraud law, rule or
regulation relating to Shares or to the sale or issuance
thereof.
Based on this
review and subject to the foregoing, we are of the opinion that if,
as and when the Shares have been issued and sold (and the
consideration, constituting not less than the par value per Share,
fully received) pursuant to the provisions of the applicable Award
Agreement and in accordance with the Registration Statement, such
Shares will be validly issued, fully paid and non-assessable. In
rendering the foregoing opinion, we have assumed that the Shares
will be duly registered on the books of the Company’s
transfer agent and registrar in the name or on behalf of the
purchasers and the Company will comply with all applicable notice
requirements regarding uncertificated shares provided in the DGCL
or certificates representing the Shares will be signed by an
authorized officer of the transfer agent and
registrar.
We consent to
the filing of this opinion letter as Exhibit 5.1 to the
Registration Statement. In giving our consent, we do not
admit that we are in the category of persons whose consent is
required under Section 7 of the Securities Act or the
regulations thereunder.
This opinion
letter is rendered as of the date first written above and assumes
that no changes in the law will have occurred, including changes
affecting the valid issuance of the Shares. We disclaim
any obligation to advise you of facts, circumstances, events or
developments which hereafter may be brought to our attention and
which may alter, affect or modify the opinion expressed
herein. Our opinion is expressly limited to the matters
set forth above and we render no opinion, whether by implication or
otherwise, as to any other matters relating to the Company and the
Shares. This opinion is rendered solely in connection
with the Registration Statement and may not be relied upon by you
for any other purpose or relied upon by any other person without
our prior written consent.
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Very truly
yours,
/s/ Allen Matkins Leck Gamble
Mallory & Natsis LLP
Allen Matkins Leck Gamble Mallory
& Natsis LLP
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