Examples of Amended Warrants in a sentence
There is no established trading market for the Original Warrants or the Amended Warrants, and we do not intend to list the Original Warrants or the Amended Warrants for trading on any exchange or market.
We are not aware of any license or regulatory permit material to our business that might be adversely affected by the Offer to Amend and Exercise and the issuance of the shares of common stock upon the exercise of the Amended Warrants.
There is no established trading market for the Original Warrants or the Amended Warrants.
In addition, the Company may impose stop-transfer restrictions to enforce these restrictions and place a legend on any certificate representing the shares issued upon exercise of the Amended Warrants.
The Amended Warrants were amended as follows:The exercise price of the Amended Warrants was amended from $0.125 to $0.09; and The expiry date of the Amended Warrants was extended from November 13, 2019 to November 13, 2020.
Recent Sales of Unregistered Securities Exercises of 2018 Amended Warrants: On June 6, 2018, the Company entered into Warrant Exercise Agreements with certain holders (“2018 Warrant Holders”), pursuant to which holders were issued warrants to purchase an aggregate 2,458,201 unregistered shares of Common Stock, at an exercise price of $9 per share, with an expiration date of December 31, 2020 (the “2018 Warrants”).
We are not aware of any license or regulatory permit material to our business that might be adversely affected by the Exercise Offer and the issuance of the shares of common stock upon the exercise of the Amended Warrants.
The purpose of this Offer is to raise additional capital for the Company by providing the holders of the Original Warrants with the opportunity to obtain Amended Warrants exercisable at reduced exercise prices , and encouraging the participating holders to exercise the Amended Warrants by significantly reducing the exercise prices and exercise periods of the Amended Warrants.
See Section 2 “Purposes of the Offer to Amend and Exercise and Use of Proceeds; Plans or Proposals” for a description of our present intentions with respect to the allocation of the proceeds resulting from exercise of the Amended Warrants.
The Warrant Agents in accordance with the terms of the Warrant Agent Agreement, will use its reasonable best efforts to maximize the number of Eligible Holders of Original Warrants who elect to participate in the Offer to Amend and Exercise and exercise their Amended Warrants, including appropriate communications with Eligible Holders of Original Warrants, as well as with such Holders’ brokers, agents or other representatives.