Examples of Series B-1 Warrants in a sentence
The Preferred Shares, the ordinary shares of the Company of par value of US$0.001 each (the “Ordinary Shares”) issuable upon conversion of the Preferred Shares and the Ordinary Shares issuable upon conversion of the Preferred Shares issued pursuant to exercise of the Series B-1 Warrants (the “Converted Shares”) are acquired by it for its own account, not as a nominee or agent, and not with a view to or in connection with the sale or distribution of any part thereof.
Except for (i) the conversion privileges of the preferred shares, (ii) up to 750,000 Ordinary Shares reserved for issuance to employees pursuant to the ESOP (defined below), and (iii) the shares reserved for issuance in accordance with the Series B-1 Warrants, there are no options, warrants, conversion privileges or other rights, or agreements with respect to the issuance thereof, presently outstanding to purchase any of the shares of the Company.
It understands that the Preferred Shares, the Series B-1 Warrants and the Converted Shares are restricted securities within the meaning of Rule 144 under the Securities Act and that the Preferred Shares, the Series B-1 Warrants and the Converted Shares are not registered or listed publicly and must be held indefinitely unless they are subsequently registered or listed publicly or an exemption from such registration or listing is available.
The Company covenants to at all times reserve sufficient Ordinary Shares or, if the reservation is insufficient, to take all actions necessary to authorize such additional Ordinary Shares, for issuance upon conversion of all Preferred Shares and all Series B-1 Preferred Shares obtained based on exercise of the Series B-1 Warrants under the Transaction Agreements.
Subject to the fulfillment of the conditions to closing as set forth in Sections 6 and 7, the sale of the Preferred Shares and the Series B-1 Warrants as provided in Sections 1 above shall take place remotely via the exchange of documents and signatures at such time and place to be mutually agreed upon by the parties (the “Closing”).