Stock Splits, Subdivisions, Reclassifications or Combinations. If the ------------------------------------------------------------- Company shall (1) declare a dividend or make a distribution on its Common Stock in shares of Common Stock, (2) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares, or (3) combine or reclassify the outstanding Common Stock into a smaller number of shares, the number of Shares issuable upon exercise of this Warrant at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be proportionately adjusted so that the holder after such date shall be entitled to purchase the number of Shares which such holder would have owned or been entitled to receive after such date had this Warrant been exercised immediately prior to such date. In such event the Exercise Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to the number obtained by dividing (x) the product of (A) the number of Shares issuable upon the exercise of this Warrant before such adjustment and (B) the Exercise Price in effect immediately prior to the issuance giving rise to this adjustment by (y) the new number of shares issuable upon exercise of the Warrant determined pursuant to the immediately preceding sentence.
Appears in 2 contracts
Samples: Warrant Agreement (Evolve Software Inc), Warrant Agreement (Evolve Software Inc)
Stock Splits, Subdivisions, Reclassifications or Combinations. If the ------------------------------------------------------------- Company shall (1) declare a dividend or make a distribution on its Common Stock in shares of Common Stock, (2) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares, or (3) combine or reclassify the outstanding Common Stock into a smaller number of shares, the number of Shares issuable shares of Common Stock obtainable upon exercise of this Warrant at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be proportionately adjusted so that the holder after such date Holder shall be entitled to purchase receive the number of Shares shares of Common Stock which such holder the Holder would have owned or been entitled to receive after such date had this the Warrant been exercised immediately prior to such date. In such the event of any adjustment to the total number of shares of Common Stock obtainable upon exercise of the unexercised portion of this Warrant pursuant to this paragraph 3B, the Exercise Price in effect at the time of the record date for such dividend or distribution or the effective date of such subdivision, combination or reclassification shall be adjusted to be the number obtained amount determined by dividing multiplying (xi) the product Exercise Price by (ii) a fraction, the numerator of (A) which is the number of Shares issuable shares of Common Stock payable upon the exercise of this Warrant before immediately prior to such adjustment and (B) the denominator of which is the number of shares of Common Stock covered by this Warrant immediately after such adjustment. Successive adjustments to the Exercise Price in effect immediately prior and to the issuance giving rise to this adjustment by (y) the new number of shares issuable of Common Stock obtainable upon exercise of the this Warrant determined pursuant to the immediately preceding sentenceshall be made whenever any event specified above shall occur.
Appears in 2 contracts
Samples: Common Stock Purchase Warrant (SCF Iv Lp), Common Stock Purchase Warrant (Input Output Inc)