Adjustment to Number of Warrant Shares Issuable. Section 3(g) shall be removed from the Warrant and replaced with the following: “Reserved.”
Adjustment to Number of Warrant Shares Issuable. If (i) the Company at any time or from time to time after the issuance date set forth above shall declare or pay any dividend on the Common Stock payable in Common Stock, or effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), or (ii) the outstanding shares of Common Stock shall be combined or consolidated, by reclassification, reverse stock split or otherwise, into a lesser number of shares of Common Stock, then, and in any such event, the number of Warrant Shares which the Holder shall be entitled to receive upon exercise of the Warrant following such event shall be equal to the product of (i) the number of Warrant Shares which the Holder was entitled to receive upon exercise of the Warrant prior to such event, and (ii) a fraction, the numerator of which is the number of issued and outstanding shares of Common Stock after giving effect to such event, and the denominator of which is the number of issued and outstanding shares of Common Stock immediately prior to such event.
Adjustment to Number of Warrant Shares Issuable. During the twelve (12) month period after the Issue Date, upon each bona fide equity financing (either as a single transaction or series of related transactions) pursuant to which the Company issues and sells shares of its capital stock with the principal purpose of raising capital (each, a “Qualified Equity Financing”), the number of Warrant Shares shall be adjusted to be equal to, rounded up to the next whole number, the quotient of (A) the product of (x) $2,288,746.45 and (y) the percentage of the Warrant Shares initially issuable under this Warrant for which Warrant Shares have not been issued at the time of such adjustment (the “Adjustment Amount”) divided by (B) the price per share of Common Stock offered in the Qualified Equity Financing (the “Adjustment Price”).”
Adjustment to Number of Warrant Shares Issuable. During the twelve (12) month period after the Issue Date and following the Requisite Stockholder Approval, upon each bona fide equity financing (either as a single transaction or series of related transactions) pursuant to which the Company issues and sells shares of its capital stock with the principal purpose of raising capital (each, a “Qualified Equity Financing”), the number of Warrant Shares shall be adjusted to be equal to, rounded up to the next whole number, the quotient of (A) the product of (x) $_____________ and (y) the percentage of the Warrant Shares initially issuable under this Warrant for which Warrant Shares have not been issued at the time of such adjustment (the “Adjustment Amount”) divided by (B) the price per share of Common Stock offered in the Qualified Equity Financing (the “Adjustment Price”). Notwithstanding the foregoing, under no circumstances shall the number of Warrant Shares be reduced as a result of the adjustments pursuant to this Section 3(g) and no adjustment or issuance pursuant to this Section 3(g) shall become effective unless and until the Requisite Stockholder Approval has been obtained. As used herein, “Requisite Stockholder Approval” means the stockholder approval contemplated by Nasdaq Listing Rule 5635 with respect to the adjustment provision in this Warrant pursuant to this Section 3(g); provided, however, that the Requisite Stockholder Approval will be deemed to be obtained if, due to any amendment or binding change in the interpretation of the applicable listing standards of the Nasdaq Capital Market, such stockholder approval is no longer required.
Adjustment to Number of Warrant Shares Issuable. If (i) the Company at any time or from time to time after the issuance date set forth above shall declare or pay any dividend on the Common Stock payable in Common Stock, or effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), or (ii) the outstanding shares of Common Stock shall be combined or consolidated, by reclassification, reverse stock split or otherwise, into a lesser number of shares of Common Stock , then, and in any such event, the number of Warrant Shares which the Holder shall be entitled to receive upon exercise of the Warrant following such event shall be equal to the product of (i) the number of Warrant Shares which the Holder was entitled to receive upon exercise of the Warrant prior to such event, and (ii) a fraction, the numerator of which is the number of issued and outstanding shares of Common Stock after giving effect to such event, and the denominator of which is the number of issued and outstanding shares of Common Stock immediately prior to such event.
