Common use of Subdivisions, Splits and Combination of the Common Stock Clause in Contracts

Subdivisions, Splits and Combination of the Common Stock. If the Corporation subdivides, splits or combines the shares of Common Stock, then the Conversion Price shall be adjusted such that the Conversion Price on and after the effective time of such share subdivision, split or combination will equal the product of (x) the Conversion Price in effect immediately prior to the effective time of such share subdivision, split or combination, multiplied by (y) the following fraction: OS0 = the number of shares of Common Stock outstanding immediately prior to the effective time of the applicable share subdivision, split or combination, and OS1 = the number of shares of Common Stock outstanding immediately after the effective time of such share subdivision, split or combination. For the purposes of this clause (ii), the number of shares of Common Stock outstanding shall not include any shares which have been reacquired by the Corporation. If any subdivision, split or combination described in this clause (ii) is announced but the shares of Common Stock are not subdivided, split or combined, the Conversion Price shall be readjusted, effective as of the date the Board publicly announces its decision not to subdivide, split or combine the outstanding shares of Common Stock, to such Conversion Price that would be in effect if such subdivision, split or combination had not been announced.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Giga Tronics Inc), Securities Purchase Agreement (Giga Tronics Inc)

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Subdivisions, Splits and Combination of the Common Stock. If the Corporation subdivides, splits or combines the shares of Common Stock, then the Conversion Price shall be adjusted such that the Conversion Price on and after the effective time of such share subdivision, split or combination will equal the product of (x) the Conversion Price in effect immediately prior to the effective time of such share subdivision, split or combination, multiplied by (y) the following fraction: Where, OS0 = the number of shares of Common Stock outstanding immediately prior to the effective time of the applicable share subdivision, split or combination, and OS1 = the number of shares of Common Stock outstanding immediately after the effective time of such share subdivision, split or combination. For the purposes of this clause (ii), the number of shares of Common Stock outstanding shall not include any shares which have been reacquired by the Corporation. If any subdivision, split or combination described in this clause (ii) is announced but the shares of Common Stock are not subdivided, split or combined, the Conversion Price shall be readjusted, effective as of the date the Board publicly announces its decision not to subdivide, split or combine the outstanding shares of Common Stock, to such Conversion Price that would be in effect if such subdivision, split or combination had not been announced.

Appears in 1 contract

Samples: Securities Purchase Agreement (Giga Tronics Inc)

Subdivisions, Splits and Combination of the Common Stock. If the Corporation subdivides, splits or combines the shares of Common Stock, then the Conversion Price shall be adjusted such that the Conversion Price on and after Exchange Rate in effect immediately prior to the effective time date of such share subdivision, split or combination will equal the product of (x) the Conversion Price in effect immediately prior to the effective time of such share subdivision, split or combination, be multiplied by (y) the following fraction: OS1 OS0 Where, OS0 = the number of shares of Common Stock outstanding immediately prior to the effective time date of the applicable such share subdivision, split or combination, and . OS1 = the number of shares of Common Stock outstanding immediately after the opening of business on the effective time date of such share subdivision, split or combination. For the purposes of this clause (ii), the number of shares of Common Stock outstanding shall not include any shares which have been reacquired by the Corporation. If any subdivision, split or combination described in this clause (ii) is announced but the outstanding shares of Common Stock are not subdivided, split or combined, the Conversion Price Exchange Rate shall be readjusted, effective as of the date the Board of Directors publicly announces its decision not to subdivide, split or combine the outstanding shares of Common Stock, to such Conversion Price Exchange Rate that would be in effect if such subdivision, split or combination had not been announced.

Appears in 1 contract

Samples: Stock Purchase Agreement (Central Valley Community Bancorp)

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Subdivisions, Splits and Combination of the Common Stock. If the Corporation subdivides, splits or combines the shares of Common Stock, then the Conversion Price shall be adjusted such that the Conversion Price on and after in effect immediately prior to the effective time date of such share subdivision, split or combination will equal the product of (x) the Conversion Price in effect immediately prior to the effective time of such share subdivision, split or combination, be multiplied by (y) the following fraction: OS0 OS1 Where, OS0 = the number of shares of Common Stock outstanding immediately prior to the effective time date of the applicable such share subdivision, split or combination, and . OS1 = the number of shares of Common Stock outstanding immediately after the opening of business on the effective time date of such share subdivision, split or combination. For the purposes of this clause (ii), the number of shares of Common Stock outstanding shall not include any shares which have been reacquired by the Corporation. If any subdivision, split or combination described in this clause (ii) is announced but the outstanding shares of Common Stock are not subdivided, split or combined, the Conversion Price shall be readjusted, effective as of the date the Board of Directors publicly announces its decision not to subdivide, split or combine the outstanding shares of Common Stock, to such Conversion Price that would be in effect if such subdivision, split or combination had not been announced.

Appears in 1 contract

Samples: Investment Agreement (Third Coast Bancshares, Inc.)

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