Series C Convertible Notes definition
Examples of Series C Convertible Notes in a sentence
Following the exercise by the Company of the Put-Option (which option, for the avoidance of doubt, shall be deemed to be automatically exercised by the Company at the Closing), the Company will deliver to the Purchasers at the Closing the Put-Option Payment in the form of an increase in the aggregate principal amount of Series C Convertible Notes delivered to each Purchaser equal to 3.0% of the Purchase Price of such Series C Convertible Notes.
The Exit Payment shall be earned as of the Closing Date, and the Company will deliver to the Purchasers at the Closing the Exit Payment in the form of an increase in the aggregate principal amount of Series C Convertible Notes delivered to each Purchaser equal to 2.0% of the Purchase Price of such Series C Convertible Notes.
The Exchange Payment shall be earned as of the Closing Date, and the Company will deliver to the Purchasers at the Closing the Exchange Payment in the form of an increase in the aggregate principal amount of Series C Convertible Notes delivered to each Purchaser equal to 2.0% of the Purchase Price of such Series C Convertible Notes.
Conversion Rate: 979.6098 shares of Class A Common Stock per $1,000 aggregate principal amount of Series A Convertible Notes and Series B Convertible Notes, which is equivalent to an initial conversion price of approximately $1.025 per share and 926.7841 shares of Class A Common Stock per $1,000 aggregate principal amount of Series C Convertible Notes, which is equivalent to an initial conversion price of approximately $1.079 per share.