Common use of Representatives Unit Purchase Option Clause in Contracts

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or its designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Securities equal to 4% of the number of Securities issued in the Offering (excluding the Over-Allotment Option), pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C (the “Representative’s Unit Purchase Option Agreement”), at an initial exercise price of $[●], which is equal to 120% of the public offering price for one Unit. The Representative’s Unit Purchase Option, the shares of Common Stock and the Warrants comprising the Representative’s Unit Purchase Option, and the shares of Common Stock issuable upon exercise of the Warrants included in the Representative’s Unit Purchase Option are hereinafter referred to together as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or its designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Securities Units equal to 46% of the number of Securities Units issued in the Offering (excluding the Over-Allotment Option)Offering, pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C A (the “Representative’s Unit Purchase Option AgreementOption”), at an initial exercise price of $[●]6.875] per Unit, which is equal to 120125% of the public offering price for one Unit. The Representative’s Unit Purchase Option, the shares of Common Stock Option and the Warrants comprising and Common Shares, including the Representative’s Unit Purchase Option, and the shares of Common Stock Shares issuable upon exercise of the Warrants included in the Representative’s Unit Purchase Option are hereinafter referred to together as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) 180 days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) 180 days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by FINRA Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or its designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Securities Units equal to 47.0% of the number of Securities Units issued in the Offering (excluding the Over-Allotment Option)Offering, pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C A (the “Representative’s Unit Purchase Option AgreementOption”), at an initial exercise price of $$ [●]] per Unit, which is equal to 120[●]% of the public offering price for one Unit. The Representative’s Unit Purchase Option, the shares of Common Stock Option and the Warrants comprising and Common Stock, including the Representative’s Unit Purchase Option, and the shares of Common Stock issuable upon exercise of the Warrants included in the Representative’s Unit Purchase Option are hereinafter referred to together as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) 180 days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) 180 days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by FINRA Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions. The Representative understands and agrees that the Warrants comprising any portion of the Representative’s Securities are exercisable commencing upon the Closing Date and will not be exercisable for more than five years from the commencement of sales in the Offering.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or its designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Closing Securities equal to 45% of the number of Closing Securities issued in the Offering (excluding the Over-Allotment Option), pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C A (the “Representative’s Unit Purchase Option Agreement”), at an initial exercise price of $[●], which is equal to 120125% of the public offering price for one UnitCommon Share and a Warrant to purchase ___ Warrant Shares. The Representative’s Unit Purchase Option, the shares of Common Stock and the Warrants comprising the Representative’s Unit Purchase Option, and the shares of Common Stock issuable upon exercise of the Warrants included in the Representative’s Unit Purchase Option are hereinafter referred to together as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or its designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Securities Units equal to 45.5% of the number of Securities Units issued in the Offering (excluding the Over-Allotment Option)Offering, pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C A (the “Representative’s Unit Purchase Option AgreementOption”), at an initial exercise price of $[●]11.25] per Unit, which is equal to 120125% of the public offering price for one Unit. The Representative’s Unit Purchase Option, the shares of Common Stock Option and the Warrants comprising and Common Shares, including the Representative’s Unit Purchase Option, and the shares of Common Stock Shares issuable upon exercise of the Warrants included in the Representative’s Unit Purchase Option are hereinafter referred to together as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) 180 days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) 180 days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by FINRA Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or its designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Securities Units equal to 45.0% of the number of Securities Units issued in the Offering (excluding the Over-Allotment Option)Offering, pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C A (the “Representative’s Unit Purchase Option AgreementOption”), at an initial exercise price of $[●]1.3125 per Unit, which is equal to 120125% of the public offering price for one Unit. The Representative’s Unit Purchase Option, the shares of Common Stock Option and the Warrants comprising and Common Shares, including the Representative’s Unit Purchase Option, and the shares of Common Stock Shares issuable upon exercise of the Warrants included in the Representative’s Unit Purchase Option are hereinafter referred to together as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) 180 days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) 180 days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by FINRA Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative (and /or and/or its designees) on the Closing Date a unit purchase option to purchase up to an aggregate of one percent (1%) of the aggregate number of shares of Common Stock, Class A Warrants and Class B Warrants underlying the Firm Units issued at the Closing (the “Representative’s Unit Purchase OptionUPO”) for ); provided, however, the purchase of the number of Securities equal to 4% of the number of Securities issued in the Offering (excluding the Over-Allotment Option), warrants that may be purchased pursuant to a unit purchase option agreement the UPO shall be in the form attached hereto as Exhibit C (exhibits to the “Representative’s Unit Purchase Option Agreement”)UPO. The UPO shall be immediately exercisable, in whole or in part, commencing on the Effective Date and expiring on the five-year anniversary of the Effective Date at an initial exercise price of $[●][ ] per Unit, which is equal to 120% one hundred fifteen percent (115%) of the initial public offering price for one of a Firm Unit, which price shall be reduced upon expiration of the Underwriters’ Class A Warrant and the Underwriters’ Class B Warrant, pursuant to the terms and conditions of the UPO as set forth in the form of UPO attached hereto as Annex IV hereto. The Representative’s Unit Purchase OptionCommon Stock, the shares of Common Stock Underwriters’ Class A Warrant and the Warrants comprising Underwriters’ Class B Warrant issuable upon exercise of the Representative’s Unit Purchase OptionUPO, and the shares of Common Stock issuable upon exercise of such Underwriters’ Class A Warrant and the Warrants included in the Representative’s Unit Purchase Option Underwriters’ Class B Warrant are hereinafter referred to together collectively as the “Representative’s Securities.” The Representative understands and agrees that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Unit Purchase Option and the underlying securities during the one hundred eighty (180) days after the Effective Date and by its acceptance thereof Securities shall agree that it will not sellbe sold, transfertransferred, assignassigned, pledge pledged or hypothecate the Representative’s Unit Purchase Option, or any portion thereofhypothecated, or be the subject of any hedging, short sale, derivative, put put, or call transaction that would result in the effective economic disposition of such the securities for a period of one hundred eighty (180) 180 days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; or as otherwise expressly permitted by Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictionsDate.

Representatives Unit Purchase Option. The Company hereby agrees to issue to the Representative Representatives (and /or its their designees) on the Closing Date a unit purchase option (the “Representative’s Unit Purchase Option”) for the purchase of the number of Securities Units equal to 47.0% of the number of Securities Units issued in the Offering (excluding the Over-Allotment Option)Offering, pursuant to a unit purchase option agreement in the form attached hereto as Exhibit C A (the “Representative’s Representatives’ Unit Purchase Option AgreementOption”), at an initial exercise price of $$ [●]] per Unit, which is equal to 120[●]% of the public offering price for one Unit. The Representative’s Representatives’ Unit Purchase Option, the shares of Common Stock Option and the Warrants comprising and Common Stock, including the Representative’s Unit Purchase Option, and the shares of Common Stock issuable upon exercise of the Warrants included in the Representative’s Representatives’ Unit Purchase Option are hereinafter referred to together as the “Representative’s Representatives’ Securities.” The Representative understands Representatives understand and agrees agree that there are significant restrictions pursuant to FINRA Rule 5110 against transferring the Representative’s Representatives’ Unit Purchase Option and the underlying securities during the one hundred eighty (180) 180 days after the Effective Date and by its their acceptance thereof shall agree that it they will not sell, transfer, assign, pledge or hypothecate the Representative’s Representatives’ Unit Purchase Option, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) 180 days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative Representatives or of any such Underwriter or selected dealer; or as otherwise expressly permitted by FINRA Rule 5110(g), and only if any such transferee agrees to the foregoing lock-up restrictions. The Representatives understand and agree that the Warrants comprising any portion of the Representatives’ Securities are exercisable commencing upon the Closing Date and will not be exercisable for more than five years from the commencement of sales in the Offering.