AMENDMENT TO WARRANT TO PURCHASE COMMON STOCK (with respect to Offer to Amend and Exercise)
Exhibit (a)(1)(E)
AMENDMENT TO
WARRANT TO PURCHASE COMMON STOCK
(with respect to Offer to Amend and Exercise)
This Amendment (this “Amendment”) to Warrant to Purchase Common Stock (the “Warrant”), is made and entered into effective as of the Expiration Date (as defined in this Amendment), by and between Ekso Bionics Holdings, Inc., a Nevada corporation (the “Company”), and the undersigned (the “Holder”). Capitalized terms used but not otherwise defined herein shall have the same meanings as set forth in the Warrant.
1. Expiration Date. “Expiration Date” as used in the Warrant will mean November 20, 2014, as may be extended by the Company in its sole discretion but in all cases contemporaneous with any extension of the expiration date of the Offer to Amend and Exercise.
2. Exercise Price. Clause (iii) of the third unnumbered paragraph is deleted and replace in its entirety with the following:
“(iii) “Exercise Price” means $1.00 per share of Common Stock, subject to adjustment as provided herein;”
3. Exercise Period. Section 1(a) of the Warrant is hereby amended and restated in its entirety as follows:
“(a) The Holder may exercise this Warrant in whole or in part on any Business Days on or before 5:00 P.M., Pacific Time, on the Expiration Date, subject to the satisfaction of the exercise procedures set forth in Section 1(b)(i) hereof. The exercise of the Warrant will be effective immediately following the expiration of the Offer to Amend and Exercise (as defined below) at 5:00 P.M., Pacific Time, on the Expiration Date, as may be extended by the Company in its sole discretion.
4. Exercise Procedures. Section 1(b) of the Warrant is hereby amended and restated in its entirety as follows:
“(b) Exercise Procedures.
(i) The purchase rights represented by this Warrant shall be deemed exercised by delivery before 5:00 P.M., Pacific Time, on the Expiration Date, of all of the following: (a) a signed copy of the Election to Consent, Participate and Exercise Warrant (as defined in the Offer to Amend and Exercise Warrants to Purchase Common Stock dated October 23, 2014 (the “Offer to Amend and Exercise”)), (b) a signed copy of an Accredited Investor Questionnaire (in the form required by the Offer to Amend and Exercise), (c) the original copy of this Warrant (or an Affidavit of Loss and Indemnification Agreement in the form required by the Offer to Amend and Exercise) for cancellation, and (d) cash in the amount equal to $1.00 per share multiplied by the number of Warrant Shares the Holder elects to purchase (collectively, the “Acceptance and Exercise Documents ”). The cash may be tendered in the form of a check payable to CSC Trust Company of Delaware (the “Escrow Agent”), as Escrow Agent for the Company, or by wire transfer to the Company’s escrow account at the Escrow Agent, as set forth in the Election to Consent, Participate and Exercise Warrant. Each of the Acceptance and Exercise Documents must be properly delivered, before the Expiration Date to: Ekso Bionics Holdings, Inc., 0000 Xxxxxxx Xxx Xxxxx Xxxxx 0000, Xxxxxxxx, XX 00000, Attention: Corporate Secretary (or in the case of the cash exercise price, pursuant to the wire or check delivery instructions set forth in the Election to Consent, Participate and Exercise Warrant). This Amendment shall be deemed ineffective and null and void if all of the Acceptance and Exercise Documents are not delivered in accordance herewith prior to 5:00 P.M., Pacific Time, on the Expiration Date.
(ii) Upon the exercise of this Warrant in compliance with the provisions of Section 1(a) hereof, the Company shall promptly issue and deliver to the person or persons entitled to receive the same a certificate or certificates for that number of Warrant Shares issuable upon such exercise.”
5. Partial Exercise. The second sentence in Section 1(c) of the Warrant is deleted and replaced with the following:
“If this Warrant is exercised in part, the Company shall issue, at its expense, a new Warrant, in substantially the form of this Warrant (as the same may be amended and/or restated from time to time), referencing such reduced number of Warrant Shares that remain subject to this Warrant.”
6. Adjustment of Exercise Price Upon Issuance of Additional Shares of Common Stock. Section 3(b) of the Warrant is hereby deleted in its entirety.
7. Lock-Up Period. The Warrant is hereby amended by adding a new Section 21 as follows:
“21. LOCK-UP PERIOD.
(a) Lock-Up Restrictions. The Holder agrees not to sell, make any Short Sale (as defined below) of, loan, grant any option for the purchase of, or otherwise dispose of any of the Warrant Shares issuable upon the exercise of this Warrant without the prior written consent of the Company for a period of fifty (50) days after the Expiration Date (the “Lock-Up Period ”). For the avoidance of doubt, the Holder may transfer during the Lock-Up Period any such Warrant Shares to any of its Affiliates, provided that such Affiliate(s) agree to be bound by the same lock up restrictions and the transfer is otherwise consistent with Section 4(d) hereof.
(b) Stop-Transfer Instructions. In order to enforce this Section 21, the Company may impose stop-transfer instructions with respect to the Warrant Shares of the Holder (and the shares of every other holder subject to the restrictions in this Section 21).”
8. Short Sales. The Warrant is hereby amended by adding a new Section 22 as follows:
9. Necessary Acts. Each party to this Amendment hereby agrees to perform any further acts and to execute and deliver any further documents that may be necessary or required to carry out the intent and provisions of this Amendment and the transactions contemplated hereby.
10. Governing Law. This Amendment will be governed by and construed under the laws of the State of New York without regard to conflicts of laws principles that would require the application of any other law.
11. Continued Validity. Except as otherwise expressly provided herein, the Warrant shall remain in full force and effect.
12. Approval of Amendment; No Execution Required. By the Holder’s execution and delivery of an Election to Consent, Participate and Exercise Warrant electing therein to participate in the Offer to Amend and Exercise together with the other Acceptance and Exercise Documents in accordance with the terms of the Offer to Amend and Exercise, each of the Company and the Holder shall be deemed to have authorized, approved and executed this Amendment.