Closing VWAP definition
Examples of Closing VWAP in a sentence
With respect to any indemnification payment that includes Innovate Common Stock, the value of each share of Innovate Common Stock is equal to the Innovate Closing VWAP for purposes of determining the number of shares to be delivered as the indemnification payment.
Notwithstanding any other provision of this Agreement, each holder of Company Shares converted pursuant to the Merger who would otherwise have been entitled to receive a fraction of a Parent Share (after aggregating all shares represented by the Certificates and Book-Entry Shares delivered by such holder) shall receive, in lieu thereof and upon surrender of any right thereto, cash, rounded to the nearest whole cent and without interest, in an amount equal to such fraction, multiplied by the Closing VWAP.
At the Closing (as defined below), if the VWAP of the Shares for the fifteen (15) trading days prior to the Closing Date (the “Closing VWAP”) is less than $8.30, then the Investor shall be entitled to receive a number of additional Shares equal to (i) (A) 8.30 minus (B) the Closing VWAP multiplied by (ii) 100,000.
For purposes of determining the number of Indemnification Escrow Shares used to satisfy any Indemnity Claim, each Indemnification Escrow Share shall be valued at the Closing VWAP.
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