Common use of Stock Dividends, Stock Splits, Subdivisions and Combinations Clause in Contracts

Stock Dividends, Stock Splits, Subdivisions and Combinations. If at any time Company shall: (a) take a record of the holders of Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, Common Stock, (b) subdivide or split its Outstanding shares of Common Stock into a larger number of shares of Common Stock, or (c) combine or reclassify its Outstanding shares of Common Stock into a smaller number of shares of Common Stock; then, in each of cases (a), (b) and (c) above, (i) the number of shares of Warrant Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Warrant Stock which a record holder of the same number of shares of Warrant Stock for which this Warrant is exercisable immediately prior to the occurrence of such event or the record date therefor, whichever is earlier, would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the Exercise Price multiplied by the number of shares of Warrant Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Warrant Stock for which this Warrant is exercisable immediately after such adjustment.

Appears in 5 contracts

Samples: Warrant Agreement (BG Medicine, Inc.), Warrant Agreement (BG Medicine, Inc.), Warrant Agreement (Conseco Inc)

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Stock Dividends, Stock Splits, Subdivisions and Combinations. If at any time Company shall: (a) take a record of the holders of Common Series D Preferred Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, Common Series D Preferred Stock, (b) subdivide or split its Outstanding shares of Common Series D Preferred Stock into a larger number of shares of Common Series D Preferred Stock, or (c) combine or reclassify its Outstanding shares of Common Series D Preferred Stock into a smaller number of shares of Common Series D Preferred Stock; then, in each of cases (a), (b) and (c) above, (i) the number of shares of Warrant Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Warrant Stock which a record holder of the same number of shares of Warrant Stock for which this Warrant is exercisable immediately prior to the occurrence of such event or the record date therefor, whichever is earlier, would own or be entitled to receive after the happening of such event, and (ii) the Exercise Price shall be adjusted to equal (A) the Exercise Price multiplied by the number of shares of Warrant Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Warrant Stock for which this Warrant is exercisable immediately after such adjustment. Upon any mandatory conversion of the Series D Preferred Stock as provided in Section 4.1, each reference to Series D Preferred Stock in this Section 4.2 shall be deemed to be Common Stock.

Appears in 1 contract

Samples: Warrant Agreement (PTC Therapeutics, Inc.)

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