Examples of February Warrants in a sentence
The February Warrants are immediately exercisable and expire no later than five (5) years from the date of issuance.
The Company is not required to register for resale under the Securities Act (i) the February Shares issued to the investors, (ii) the February Warrants or (iii) the Common Stock issuable upon the exercise of the February Warrants.
The Company represents, with respect to any transaction (a “February Warrant Transaction”) revising the terms of the warrants issued by the Company in February 2005 (the “February Warrants”), that it has not entered and will not enter into any February Warrant Transaction on terms more favorable to one or more holders of the February Warrants than the terms set forth in this Agreement or in the form of Warrant attached hereto as Exhibit A.
Pursuant to the February Agreement, the Company issued an aggregate of 818,362 February Warrants to the investors with a fair value of approximately $1,379,000.
An exercise under the February Warrants may not result in the holder beneficially owning more than 4.99% or 9.99%, as applicable, of all of the Common Stock outstanding at the time; provided, however, that a holder may waive the foregoing provision upon sixty-one (61) days’ advance written notice to the Company.
The February Warrants contain an exercise price of $3.722 per share.
No adjustment will be made to the exercise price of the February Warrants.
The February Warrants and the underlying shares of Common Stock were registered pursuant to the Company’s Registration Statement on Form S-1 (File No. 333-228566), as amended, filed with the SEC under the Securities Act on November 28, 2018, which became effective on February 7, 2019, and the related prospectus dated February 12, 2019.
On March 19, 2019, the Company issued warrants to purchase up to an aggregate of 5,950,000 shares of Common Stock with an exercise price per share of $1.25 (the “March Warrants” and together with the January Warrants and the February Warrants, the “Existing Warrants”).
For the purposes of the preceding sentence, the number of shares of Common Stock deemed to be outstanding as of a given date shall be the sum of (i) the number of shares of Common Stock actually outstanding and (ii) the number of shares of Common Stock issuable upon the exercise of the then outstanding Warrants and February Warrants, if each are fully exercised on the day immediately preceding the given date.