Exchange Option. At any time after a person becomes an Acquiring Person or a Tender Offer Person, and prior to the acquisition by such Acquiring Person of 50% or more of the outstanding Common Shares, the Board of Directors of the Company may exchange the Rights (other than Rights owned by such person or group which have become void), in whole or in part, at an exchange ratio of one Common Share per Right (subject to adjustment).
Appears in 6 contracts
Samples: Shareholder Rights Agreement, Shareholder Rights Agreement (Cel Sci Corp), Shareholder Rights Agreement (Fortitude Gold Corp)