Average Closing Bid Price definition

Average Closing Bid Price means the average of the daily last bid price for the shares of Common Stock for the ten (10) consecutive trading days on which such shares are actually traded as over-the-counter securities and quoted on the Nasdaq National Market (as reported by Bloomberg Business News or, if not reported thereby, any other authoritative source selected by the Company) ending at the close of trading on the trading day immediately preceding an identified measurement date.

Average Closing Bid Price means the average of the Closing Bid Prices of the Common Stock for the twenty (20) days immediately preceding the applicable date.

Average Closing Bid Price for the purposes of this Section 6 means the average of the daily last bid price for the shares of Common Stock for the five (5) or ten (10), as the case may be, consecutive trading days on which such shares are actually traded as over-the-counter securities and quoted on Nasdaq National Market (as reported by Bloomberg Business News, or, if not reported thereby, any other authoritative source selected by the Company ending at the close of the trading on the trading day immediately preceding the measurement date.

Examples of Average Closing Bid Price in a sentence

• If the CXI Common Stock is not traded on the American Stock Exchange, the Average Closing Bid Price shall be the average closing bid price (and if not available, the mean of the high and low prices) of the Common Stock on the over-the-counter-market or the principal national securities exchange or the Nasdaq National Market System or Nasdaq SmallCap Market System on which the CXI Common Stock is traded for the previous five (5) business days ending on the day before the Conversion Date.

• Such COES Preferred Shares shall thereafter become immediately convertible and the Conversion Price for such COES Preferred Shares shall be equal to 75% of the Average Closing Bid Price.

• The Conversion Notice shall include therein the Stated Value of shares of Preferred Stock to be converted, and a calculation (a) of the Average Closing Bid Price, (b) the Conversion Price, and (c) the number of shares of Common Stock to be issued in connection with such conversion.

• The Average Closing Bid Price shall be discounted by a further five percent (5%) (30% total discount) if the Conversion Notice is received after the 122nd day after the Original Issuance Date (as defined in the next paragraph), and by a further five percent (5%) (35% total discount) if the Conversion Notice is received after the 246th day after the Original Issuance Date, subject always to the Minimum Conversion Price and the Maximum Conversion Price.

• However, if 120% of the average closing bid price of a share of Common Stock (as reported on any tier of The Nasdaq Stock Market, Inc., including the Over-the-Counter Bulletin Board automated quotation system or on a national securities exchange) for 20 consecutive trading days ending on June 12, 2002 (the "20-Day Average Closing Bid Price"), is less than the Exercise Price, then the Exercise Price shall be adjusted to equal the greater of (i) 120% of the 20-Day Average Closing Bid Price or (ii) $0.2655.

More Definitions of Average Closing Bid Price

Average Closing Bid Price means, with respect to any period and any class of Common Stock, the per share price of such class determined as follows:

Average Closing Bid Price means the average of the closing bid price on the Over The Counter Bulletin Board ("OTC:BB") or other exchange on which the Common Stock is so traded. Payment of the Exercise Price may be made by either of the following, or a combination thereof, at the election of Holder:

Average Closing Bid Price means the average closing bid price of the Company's Common Stock reported by NASDAQ for the 10 trading days immediately preceding the respective closing of the Offering. (b) "Common Stock" shall mean the authorized stock of the Company of any class, whether now or hereafter authorized, which has the right to participate in the distribution of earnings and assets of the Company without limit as to amount or percentage, which at the date hereof consists of 20,000,000 shares of Common Stock, $.01 par value per share. (c) "Corporate Office" shall mean the office of the Warrant Agent (or its successor) at which at any particular time its principal business shall be administered, which office is located on the date hereof at 0 Xxxxxxxx, 00xxXxxxx, Xxx Xxxx, Xxx Xxxx 00000.

Average Closing Bid Price means the average closing bid price of the Company's Common Stock reported by NASDAQ for the 10 trading days immediately preceding the respective closing of the Offering.

Average Closing Bid Price means the average of the closing bid price for the ADR's in the Company for the 30 trading days immediately proceeding the date of conversion;

Average Closing Bid Price means the average of the closing bid prices of the Buyer Shares as reported by Nasdaq during the Determination Period.

Average Closing Bid Price means the average of the last sale prices of the THCG Common Stock for twenty consecutive trading days, as reported on the Nasdaq National Market, or the closing bid prices as reported in the over-the-counter market if the THCG Common Stock is not traded on the Nasdaq National Market (subject to appropriate adjustment for any stock split, reverse split, stock dividend, reorganization, recapitalization or other like change with respect to the THCG Common Stock occurring after the Closing Date).