Common use of Warrant Exercise Price Clause in Contracts

Warrant Exercise Price. 1.1 This Warrant is issued pursuant to a Subscription Agreement dated as of the date hereof, by and among the Company and the Warrant Holder (the “Subscription Agreement”). 1.2 Each Warrant shall entitle the Warrant Holder to purchase one Unit (individually, a “Warrant Unit” severally, the “Warrant Units”). Each Warrant Unit shall provide the holder of such Unit with a capital account balance equal to the exercise price paid for such Warrant Unit. 1.3 The purchase price payable upon exercise of each Warrant (the “Exercise Price”) shall be (i) in the event that the Company completes a merger of the Company with and into Lifesciences Opportunities, Inc. (the "Merger"), (A) the actual exercise price for a Warrant issued in the Company's next equity financing (whether completed before, after or contemporaneously with the Merger), subject to any adjustments pursuant to Section 8 to make such Warrant equivalent to the Warrants hereunder, (B) if no Warrant is offered in the next equity financing (whether completed before, after or contemporaneously with the Merger), then in such event only, the purchase price per security which the Warrant Holder is entitled to purchase upon the exercise of this Warrant will be equal to the actual purchase price paid for each such security in the next equity financing, or (C) if no such financing is completed by the Company after the Merger, then the purchase price per security which the Warrant Holder is entitled to purchase shall be equal to (1) the Exercise Price identified in (ii) below (as adjusted by the provisions of Article 8), divided by (2) the number of shares or other securities issuable or exchangeable for each Warrant through the Merger) or (ii) if the Warrant is exercised prior to the Merger, then the exercise price shall be $92.72 per Unit, subject to any adjustments pursuant to Section 8. Notwithstanding the foregoing, the Exercise Price and number of Warrant Units purchasable pursuant to each Warrant are subject to adjustment as provided in Section 8.