Common use of Adjustment Upon Stock Dividends, Certain Issuances, Subdivisions or Combinations of Common Stock Clause in Contracts

Adjustment Upon Stock Dividends, Certain Issuances, Subdivisions or Combinations of Common Stock. If the Company, at any time while this Warrant is outstanding: (A) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock, (B) subdivides outstanding shares of Common Stock into a larger number of shares, (C) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (D) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Strike Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of Warrant Shares shall be proportionately adjusted such that the Aggregate Strike Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 4(c)(i) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re‑classification.

Appears in 2 contracts

Samples: Exchange Agreement (Stronghold Digital Mining, Inc.), Exchange Agreement (Stronghold Digital Mining, Inc.)

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Adjustment Upon Stock Dividends, Certain Issuances, Subdivisions or Combinations of Common Stock. If the CompanyCorporation, at any time while this Warrant is Series D Preferred Shares are outstanding: (Ai) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Class A Common Stock or any other equity or equity equivalent securities payable in shares of Class A Common Stock, (Bii) subdivides outstanding shares of Class A Common Stock into a larger number of shares, (Ciii) combines (including by way of reverse stock split) outstanding shares of Class A Common Stock into a smaller number of shares, or (Div) issues by reclassification of shares of the Class A Common Stock any shares of capital stock of the CompanyCorporation, then in each case the Strike Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Class A Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Class A Common Stock outstanding immediately after such event, and the number of Warrant Shares shall be proportionately adjusted such that the Aggregate Strike Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 4(c)(i4.5(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re‑classification.

Appears in 1 contract

Samples: Exchange Agreement (Stronghold Digital Mining, Inc.)

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Adjustment Upon Stock Dividends, Certain Issuances, Subdivisions or Combinations of Common Stock. If the CompanyCorporation, at any time while this Warrant is Series C Preferred Shares are outstanding: (Ai) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Class A Common Stock or any other equity or equity equivalent securities payable in shares of Class A Common Stock, (Bii) subdivides outstanding shares of Class A Common Stock into a larger number of shares, (Ciii) combines (including by way of reverse stock split) outstanding shares of Class A Common Stock into a smaller number of shares, or (Div) issues by reclassification of shares of the Class A Common Stock any shares of capital stock of the CompanyCorporation, then in each case the Strike Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Class A Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Class A Common Stock outstanding immediately after such event, and the number of Warrant Shares shall be proportionately adjusted such that the Aggregate Strike Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 4(c)(i4.5(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re‑classification.

Appears in 1 contract

Samples: Exchange Agreement (Stronghold Digital Mining, Inc.)

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