Examples of Qualified Offering Price in a sentence
If and when the Company issues shares of its Common Stock and/or other securities in a public offering at a per share price to be determined by the Company (the “Qualified Offering Price”) and yielding gross proceeds to the Company of at least $10 million, the Exercise Price, to the extent it exceeds the Qualified Offering Price, shall be adjusted so that it shall equal such Qualified Offering Price and the number of shares issuable upon exercise of this Warrant shall be proportionately increased.
The exercise price per share of Common Stock under this Warrant shall be the lesser of (i) (A) the Original Issue Price under the Certificate of Incorporation, or (B) if a SPAC Transaction shall have occurred, $3.61; or (ii) in the event that a Qualified Offering is consummated prior to the exercise hereof, the Qualified Offering Price, subject to adjustment hereunder (the “Exercise Price”).
In the event it is determined within twelve (12) months after the Closing that the Qualified Offering Price of Parent Common Stock issued in a Qualified Offering is less than the VWAP, Parent shall issue to Sellers additional shares of Parent Common Stock equal to the difference between the number of shares of Parent Common Stock issued to Sellers at Closing and the number of Shares of Common Stock equal to the quotient of the Purchase Price divided by the Qualified Offering Price.
It is the Parties’ intention that the Purchase Price will be payable by issuance to Sellers of a number of newly issued shares of Parent Common Stock equal to the quotient of (a) Three Million and 00/100 Dollars ($3,000,000.00) divided by (b) the lower of (i) the VWAP and (ii) the Qualified Offering Price.
The Qualified Offering Price as determined pursuant to this SECTION 13(B) shall apply with respect to any Issuance Date that occurs by virtue of the closing of a Qualified Offering within 40 days of the date of the Valuation Notice.