Adjustments for Dividends and Distributions of Shares. If the Company shall at any time or from time to time after the Issuance Date make or issue a dividend or distribution payable in Shares, then the Conversion Price shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed, as of the close of business on such record date, by multiplying the Conversion Price then in effect by a fraction: (i) the numerator of which shall be the total number of Shares issued and outstanding immediately prior to the time of such issuance; and (ii) the denominator of which shall be the total number of Shares issued and outstanding immediately prior to the time of such issuance, plus the number of Shares issuable in payment of such dividend or distribution.
Appears in 4 contracts
Samples: Convertible Note and Warrant Purchase Agreement, Convertible Note and Warrant Purchase Agreement, Convertible Note and Warrant Purchase Agreement (The9 LTD)
