Common use of Representative Warrants Clause in Contracts

Representative Warrants. On the Closing Date, the Company shall issue to the Representative warrants to purchase a number of Units equal to eight percent (8%) of the aggregate number of Units sold in the Offering by the Underwriters (the “Representative Warrants”). The Representative Warrants shall be exercisable at 110% of the public offering price. The Representative Warrants and the underlying Units issuable upon exercise shall be subject to a lock-up restriction pursuant to the rules of FINRA and in particular FINRA Rule 5110(g)(1), for a period of 180 days immediately following the Effective Date, and expire three (3) years from the Effective Date. The Representative Warrants shall include a “net issuance” or “cashless” exercise feature.

Representative Warrants. On the Closing Date and if any, each Option Closing Date, the Company shall issue to the Representative warrants to purchase a number of Units shares of Common Stock equal to eight seven percent (87%) of the aggregate number of Units Shares sold in the Offering offering by the Underwriters inclusive of any Option Shares (the “Representative Warrants”). The Representative Warrants shall be exercisable at 110115% of the public offering priceprice in the Offering. The Representative Warrants and the underlying Units issuable upon exercise shall be subject to a lock-up restriction pursuant to the rules of FINRA and in particular FINRA Rule 5110(g)(1), for a period of 180 days immediately following the Effective Date, and expire three (3) years from the Effective Date. The Representative Warrants shall include a “net issuance” or “cashless” exercise feature.