Examples of Exercise Cap in a sentence
Notwithstanding the foregoing, the Holder may, by written notice to the Company at any time and from time to time, reduce the Exercise Cap hereunder to a lower percentage.
In the event that any adjustment to the shares of Common Stock issuable pursuant to this Section 2 prior to the date of the Stockholder Approval would result in the issuance of Warrant Shares in excess of the Warrant Exercise Cap, notwithstanding anything to the contrary in this Warrant, the Company shall have no obligation to make an adjustment to the shares of Common Stock issuable in accordance with the terms hereof unless and until the Stockholder Approval has been obtained.
However, the Warrants may only be exercised by means of cashless exercise, such that, in lieu of paying the exercise price in cash on an exercise of the Warrants, the holder will receive (subject to an Exercise Cap applicable in certain circumstances) a number of Units based on the difference between the then current market price per Unit and the exercise price which will lead to an exercised ownership position of the Investor in AHIP of less than 19.99%.
The Company shall review its books and records and third party publicly available information, including the records of the Warrant Agent, at least semi-annually to determine whether, in its sole discretion, some or all of the outstanding Warrants held by Non-U.S. Citizens may be converted into shares of Common Stock without exceeding the Exercise Cap (as defined below) or resulting in Excess Shares.
The Company shall review its books and records at least semi-annually to determine whether, in its sole discretion, some or all of the outstanding Warrants held by Non-U.S. Citizens may be converted into shares of Common Stock without exceeding the Exercise Cap (as defined below) or resulting in Excess Shares.
Until such approval is obtained, no Holder shall be issued in the aggregate, upon exercise of any Warrants, shares of Common Stock in an amount greater than the product of (i) the Exercise Cap multiplied by (ii) the quotient of (A) the number of Warrants issued to a Holder divided by (B) the aggregate number of Warrants issued to all Holders (with respect to each Holder, the “Exercise Cap Allocation”).
In the event that any Holder shall sell or otherwise transfer any of such Holder’s Warrants, the transferee shall be allocated a pro rata portion of such Holder’s Exercise Cap Allocation with respect to such portion of such Warrants so transferred, and the restrictions of the prior sentence shall apply to such transferee with respect to the portion of the Exercise Cap Allocation so allocated to such transferee.
As of the Initial Issue Date, the Exercise Cap is not less than 3,966,496 shares of Common Stock.
Until such approval is obtained, no Holder shall be issued in the aggregate, upon the exercise of Class X Warrants and the conversion of the Series F Preferred Stock, shares of Common Stock in an amount greater than the product of (A) the Exercise Cap multiplied by (B) the quotient of (1) the Holder’s Subscription Amount (as defined in the Purchase Agreement) divided by (2) the aggregate Subscription Amount of all the Holders (with respect to each Holder, the “Exercise Cap Allocation”).
Short, medium and long horizons are in terms of the forecast horizons considered in the study.