Alternate Net Number definition
Alternate Net Number means, with respect to any given exercise hereunder, the product of (i) the total number of shares with respect to which a Warrant is then being exercised and (ii) the quotient obtained by dividing (A) the difference obtained by subtracting (x) the Market Price, from (y) the Exercise Price on the Issuance Date (as adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar transaction occurring after the Issuance Date) by (B) the Market Price. In connection with any Cashless Exercise or Alternate Cashless Exercise pursuant to this Section 3.3.2, the Warrant Agent will promptly deliver a copy of the Election to Purchase to the Company to confirm the Net Number or Alternate Net Number of Common Shares issuable in connection with the Cashless Exercise or Alternate Cashless Exercise. The Company shall calculate and transmit such calculations to the Warrant Agent, and the Warrant Agent shall have no obligation under this Section 3.3.2 to calculate, verify or confirm the Net Number or Alternate Net Number of Common Shares to be issued with respect to such Cashless Exercise or Alternate Cashless Exercise. The parties acknowledge and agree that, in accordance with Section 3(a)(9) of the Securities Act, any Common Shares issued pursuant to a Cashless Exercise or Alternate Cashless Exercise will not be deemed to be “restricted securities” under Rule 144 promulgated under the Securities Act. For purposes of Rule 144(d) promulgated under the Securities Act, as in effect on the date hereof, assuming the Registered Holder is not an affiliate of the Company, the Common Shares issued in a Cashless Exercise or Alternate Cashless Exercise shall be deemed to have been acquired by the Registered Holder, and the holding period for the Common Shares shall be deemed to have commenced, on the Issuance Date. 2 The higher of 25% of the unit offering price or $1.00.
Alternate Net Number means, with respect to any given exercise hereunder, the product of (i) the applicable Warrant Exercise Percentage of the Initial Warrant Amount and (ii) the quotient obtained by dividing (A) the difference obtained by subtracting (x) the Market Price, from (y) $1.61 (as adjusted for share splits, share dividends, share combinations, recapitalizations or other similar events) by (B) 85% of the Market Price.
Alternate Net Number means, with respect to any given exercise hereunder, the product of (i) 200% of the applicable Warrant Exercise Percentage of the Initial Warrant Amount and (ii) the quotient obtained by dividing (A) the difference obtained by subtracting (x) the Market Price, from (y) the Exercise Price as of the Subscription Date (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) by (B) the Market Price.
Examples of Alternate Net Number in a sentence
The Holder intends that payment of the Exercise Price shall be made as: ____________ a "Cash Exercise" with respect to _________________ Warrant Shares; and/or ____________ a "Cashless Exercise" with respect to _______________ Warrant Shares, resulting in a delivery obligation by the Company to the Holder of _____________ shares of Common Stock representing the applicable Net Number or Alternate Net Number.
More Definitions of Alternate Net Number
Alternate Net Number means, with respect to any given exercise hereunder, 200% of the difference of (i) the quotient of (A) the product of (I) such aggregate number of Warrant Shares to be exercised hereunder pursuant to such Exercise Notice and (II) the Exercise Price as of the Subscription Date (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations or other similar events), divided by (B) the Market Price, less (ii) such aggregate number of Warrant Shares to be exercised hereunder pursuant to such Exercise Notice.
Alternate Net Number means, with respect to any given exercise hereunder, the product of (i) the applicable Warrant Exercise Percentage of the Initial Warrant Amount and (ii) the quotient obtained by dividing (A) the difference obtained by subtracting (x) the Market Price, from (y) the Exercise Price on the Issuance Date (as adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar transaction occurring after the Issuance Date) by (B) the Market Price.
Alternate Net Number means, with respect to any given exercise hereunder, the product of (i) the number of Warrants being exercised (without any restrictions or limitation on exercise contained herein, including pursuant hereto) and (ii) the quotient obtained by dividing (A) the difference obtained by subtracting (x) the Market Price, from (y) the Exercise Price on the Issuance Date (as adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar transaction occurring after the Issuance Date) by (B) the Market Price.