Common use of Issuance in connection with a Business Combination Clause in Contracts

Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (i) issues additional shares of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance to the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them prior to such issuance), (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net of redemptions), and (iii) the Fair Market Value (as defined below in this Section 4.6) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (a) the Fair Market Value or (b) the price at which the Company issues the Common Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume weighted average reported trading price of the Common Stock for the twenty (20) trading days starting on the trading day prior to the date of the consummation of the Business Combination.

Appears in 3 contracts

Samples: Warrant Agreement (Accretion Acquisition Corp.), Warrant Agreement (Accretion Acquisition Corp.), Warrant Agreement (Accretion Acquisition Corp.)

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Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (ia) issues additional shares of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 9.50 per share (with such issue price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance to Tuscan Acquisition Holdings II LLC, the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them prior to such issuance), (iiy) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net of redemptions), and (iiiz) the Fair Market Value (as defined below in this Section 4.6below) is below $9.20 9.50 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (ai) the Fair Market Value or (bii) the price at which the Company issues the Common Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume weighted average reported trading last sale price of the Common Stock for the twenty five (205) trading days starting ending on the trading day prior to the date issuance of the consummation of the Business CombinationCommon Stock or equity-linked securities.

Appears in 2 contracts

Samples: Warrant Agreement (Tuscan Holdings Corp. II), Warrant Agreement (Tuscan Holdings Corp. II)

Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (ia) issues additional shares of Common Stock Ordinary Shares or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance to Nisun Investment Holding Limited, the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them prior to such issuance), (iiy) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net of redemptions), and (iiiz) the Fair Market Value (as defined below in this Section 4.6below) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (ai) the Fair Market Value or (bii) the price at which the Company issues the Common Stock Ordinary Shares or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume weighted average reported trading last sale price of the Common Stock Ordinary Shares for the twenty five (205) trading days starting ending on the trading day prior to the date issuance of the consummation of the Business CombinationOrdinary Shares or equity-linked securities.

Appears in 2 contracts

Samples: Warrant Agreement (Brilliant Acquisition Corp), Warrant Agreement (Brilliant Acquisition Corp)

Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (ia) issues additional shares of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance to InterPrivate Acquisition Management LLC, the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them prior to such issuance), (iib) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net of redemptions), and (iiic) the Fair Market Value (as defined below in this Section 4.6below) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (ai) the Fair Market Value or (bii) the price at which the Company issues the Common Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume weighted average reported trading price of the Common Stock for the twenty (20) trading days starting ending on the trading day prior to the date of the consummation of the Business Combination.

Appears in 2 contracts

Samples: Warrant Agreement (InterPrivate Acquisition Corp.), Warrant Agreement (InterPrivate Acquisition Corp.)

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Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (ia) issues additional shares of Common Stock or equity-linked securities at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance to Goal Acquisitions Sponsor, LLC, the Company’s initial stockholders, or their affiliates, without taking into account any founders’ shares held by them prior to such issuance), (iib) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination (net of redemptions), and (iiic) the Fair Market Value (as defined below in this Section 4.6below) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (ai) the Fair Market Value or (bii) the price at which the Company issues the Common Stock or equity-linked securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume weighted average reported trading price of the Common Stock for the twenty (20) trading days starting on the trading day prior to the date of the consummation of the Business Combination.

Appears in 1 contract

Samples: Warrant Agreement (Goal Acquisitions Corp.)

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