Examples of Series C Conversion Price in a sentence
Such initial Series C Conversion Price, and the rate at which shares of Series C Preferred Stock may be converted into shares of Common Stock, shall be subject to adjustment as provided below.
Accordingly, the Series C Conversion Price represents a discount of approximately 38.9% to the Group’s NTA per Share attributable to owners of the Company and capital securities holders as at 31 March 2021.
Each share of Series C Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the Series C Original Issue Price by the Series C Conversion Price (as defined below) in effect at the time of conversion.
All references to “Conversion Price” herein shall mean the Series A Conversion Price, the Series B Conversion Price, Series B-1 Conversion Price or the Series C Conversion Price as applicable, in each case as so adjusted.
The number of Ordinary Shares to which a holder shall be entitled upon conversion of any Series C preferred shares shall be the quotient of the applicable Series C Original Issue Price divided by the then-effective Series C Conversion Price.