Conversion Price Per Share definition

Conversion Price Per Share means a price per share of Common Stock equal to the lower of (i) $0.50 per share or (ii) 70% of the volume weighted average price per share of the Common Stock (“VWAP”). Notwithstanding the foregoing, the price set forth in part (i) of the preceding sentence shall be lowered from $0.50 per share to $0.30 per share if both of the following shall have occurred within the 10-month time frame commencing 60 days from the date of this note and ending 12 months from the date of this note: (A) the VWAP shall have fallen below $0.50 per share and (B) Borrower shall have more than 200,000,000 shares of Common Stock issued and outstanding. The VWAP shall be determined as follows: (x) the daily volume weighted average price of the Common Stock for such date on the OTC Bulletin Board as reported by Bloomberg Financial L.P. (based on a trading day from 9:30 a.m. Eastern Time to 4:02 p.m. Eastern Time); (y) if the Common Stock is not then listed or quoted on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by the Pink Sheets, LLC (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported; or (z) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Borrower.

Conversion Price Per Share means $0.475 (subject to adjustment as provided herein).

Conversion Price Per Share shall have the meaning set forth in Section 2.9.

Examples of Conversion Price Per Share in a sentence

• The Conversion Price Per Share, the number of Conversion Shares, and the number and kind of shares or other securities to be issued upon conversion determined pursuant to Section 1.2, shall be subject to adjustment from time to time upon the happening of certain events while this conversion right remains outstanding, as follows:2.2.1 Merger, Sale of Assets.

• The Borrower covenants with the Lender that all shares of Common Stock which shall be so issuable shall be duly and validly issued as fully-paid and non-assessable.The Common Stock into which this Note may be converted shall be referred to herein as the “Conversion Shares.” The number of Conversion Shares shall be determined by dividing the Conversion Amount (defined below) by the Conversion Price Per Share (defined below).

• The Conversion Price Per Share of this Note will be proportionally adjusted to reflect any stock dividend, stock split, reverse stock split, reclassification, recapitalization or other similar event affecting the number of outstanding Conversion Shares.

• At or after the first anniversary of the Loan Date, Lender may by giving written Notice of Conversion to the Borrower in the form attached hereto as Exhibit A, elect to convert some or all of the unpaid Principal Amount, including up to all the interest accrued and unpaid thereon, into a number of shares of Common Stock determined by dividing (x) the outstanding Principal Amount of this Note by (y) the Conversion Price Per Share.

• The number of Conversion Shares issuable upon conversion of any Conversion Amount pursuant to this Paragraph ‎5 shall be determined by dividing (x) the then unpaid Principal Amount, and accrued interest thereon, of the outstanding indebtedness by (y) the Conversion Price Per Share as in effect on the date the notice of conversion is given.

More Definitions of Conversion Price Per Share

Conversion Price Per Share means $129.63 (subject to adjustment as provided herein) until the calculation set forth in Section 5.2 has been carried out, at which point it shall be deemed to have been at the time of the initial issuance of this Note equal to the Revised Conversion Price Per Share (as defined in Section 5.2) (subject to adjustment as provided herein).

Conversion Price Per Share means: (i) in the case of the Reg A+ Offering Event, the volume weighted average closing price of Hightimes Common Stock, as traded or quoted on any Approved Securities Market for the initial ten (10) consecutive Trading Days immediately following completion of the Reg A+ Offering Event; and (ii) in the case of a Qualified Public Offering, the price to public per share of the Hightimes Common Stock sold in the Qualified Public Offering.

Conversion Price Per Share means the lesser of $1.30 per share, or a 25% discount to the average closing bid price of the Common Stock for the five days including and immediately preceding the Interest Compounding Date, provided that in no event shall the Conversion Price Per Share be less than $1.00 per share.

Conversion Price Per Share means the Equity Financing Price Per Share multiplied by the Discount Rate.

Conversion Price Per Share means eighty-five percent (85%) of the Weighted Average Closing Price,, as adjusted pursuant to Sections 5.2 and 5.

Conversion Price Per Share means twenty-five cents ($0.25), subject to adjustment under Section 6.

Conversion Price Per Share. The Principal Xxxxxx converted at the Conversion Time is divided by the Conversion Price Per Share to equal the number of Conversion Shares.