Common use of Pre-Funded Warrants Clause in Contracts

Pre-Funded Warrants. The Company covenants and agrees that in lieu of issuing shares of Common Stock upon exercise of this Warrant, the Company shall, at the option of the Holder, issue Pre-Funded Warrants to such Holder if, as a result of the exercise of this Warrant, the Holder’s (along with its Affiliates) beneficial ownership of the Company’s Common Stock would exceed 4.99% (or, at the discretion of the Holder, 9.99%) of the Company’s outstanding Common Stock immediately following such exercise. A Holder electing to receive Pre-Funded Warrants in lieu of shares of Common Stock upon exercise of this Warrant shall indicate such preference on the Notice of Exercise and shall withhold from the Exercise Price of the Warrants so exercised $0.0001 per Warrant Share (which, for the avoidance of doubt, shall be the exercise price of the Pre-Funded Warrant).

Pre-Funded Warrants. The Company covenants and agrees that in lieu of issuing shares of Common Stock Ordinary Shares upon exercise of this Warrant, the Company shall, at the option of the Holder, issue Pre-Funded Warrants to such Holder if, as a result of the exercise of this Warrant, the Holder’s (along with its Affiliates) beneficial ownership of the Company’s Common Stock Ordinary Shares would exceed 4.99% (or, at the discretion of the Holder, 9.99%) of the Company’s outstanding Common Stock Ordinary Shares immediately following such exercise. A Holder electing to receive Pre-Funded Warrants in lieu of shares of Common Stock Ordinary Shares upon exercise of this Warrant shall indicate such preference on the Notice of Exercise and shall withhold from the Exercise Price of the Warrants so exercised $0.0001 per Warrant Share (which, for the avoidance of doubt, shall be the exercise price of the Pre-Funded Warrant).