Common use of Adjustment upon Subdivision or Combination of Common Stock Clause in Contracts

Adjustment upon Subdivision or Combination of Common Stock. If the Company at any time on or after the Subscription Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Conversion Price in effect immediately prior to such subdivision will be proportionately reduced and the number of shares of Common Stock subject to the Conversion Rights will be proportionately increased. If the Company at any time on or after the Subscription Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion Price in effect immediately prior to such combination will be proportionately increased and the number of shares of Common Stock subject to the Conversion Rights will be proportionately decreased. Any adjustment under this Section 6(e)(2) shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 2 contracts

Samples: Series a Convertible Preferred Stock Purchase Agreement (EnterConnect Inc), Securities Purchase Agreement (EnterConnect Inc)

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Adjustment upon Subdivision or Combination of Common Stock. If the Company at any time on or after the Subscription Issuance Date subdivides (by any stock split, stock dividend, recapitalization recapitalization, reorganization, scheme, arrangement or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Conversion Exercise Price in effect immediately prior to such subdivision will be proportionately reduced and the number of shares of Common Stock subject to the Conversion Rights Warrant Shares will be proportionately increased. If the Company at any time on or after the Subscription Issuance Date combines (by combinationany stock split, reverse stock split dividend, recapitalization, reorganization, scheme, arrangement or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion Exercise Price in effect immediately prior to such combination will be proportionately increased and the number of shares of Common Stock subject to the Conversion Rights Warrant Shares will be proportionately decreased. Any adjustment under this Section 6(e)(22(a) shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 1 contract

Samples: Warrant to Purchase Common Stock (Rit Technologies LTD)

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Adjustment upon Subdivision or Combination of Common Stock. If the Company at any time on or after the Subscription Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Conversion Exercise Price in effect immediately prior to such subdivision will be proportionately reduced and the number of shares of Common Stock subject to the Conversion Rights Warrant Shares or Pre-Funded Warrants will be proportionately increased. If the Company at any time on or after the Subscription Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Conversion Exercise Price in effect immediately prior to such combination will be proportionately increased and the number of shares of Common Stock subject to the Conversion Rights Warrant Shares or Pre-Funded Warrants will be proportionately decreased. Any adjustment under this Section 6(e)(22(b) shall become effective at the close of business on the date the subdivision or combination becomes effective.

Appears in 1 contract

Samples: Warrant Agreement (CervoMed Inc.)

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