Examples of Series F Warrant in a sentence
Though the fair value of the Series F preferred shares underlying the Series F Warrant were not provided, the exercise price of the preferred shares underlying the Series F warrant was $2.8814 per share.
Such equipment is considered to be incidental to working onsite in Government facilities.The Contractor shall operate Government-provided computer equipment in accordance with DoN NMCI.
Although this massive loss – an increase in net loss for the Company of 466.9% year-over-year – was fully calculable once the Series F Warrant had been fully exercised on January 7, 2021, Defendants nevertheless kept it from investors.
Indeed, throughout the Registration Statement, Defendants disclosed a number of material facts and events “as of the date of this Prospectus” and explicitly disclosed “Subsequent Events” relating to the valuation of the Series F Warrant yet concealed the crucial $4.8 million fair value recorded at issuance until May 10, 2021.
When the Series F Warrant was fully exercised on January 7, 2021, Cloopen suffered a massive $26 million loss as a result of the increase in fair value of the warrant (treated on the balance sheet as a liability) from $4.8 million in November 2020 to $31 million at December 31, 2020 and ultimately $34 million when exercised in January 2021.
Notwithstanding the foregoing, CombiMatrix shall have no obligations under this Section 5.1(b) to the extent that Invitae has not offered shares of Invitae Common Stock with a value (based on the Invitae Trailing Average Share Value) of at least $2.90 (rounded to the nearest cent) per CombiMatrix Series F Warrant in the Warrant Exchange Offer.
In other words, Defendants included in the Offering documents material facts that had arisen subsequent to the most recent financial reporting – and still failed to include the tremendous costs stemming from the increase in fair value of the Series F Warrant.
In the “Subsequent Events” section of the Registration Statement, Defendants described the full exercise of the Series F Warrant on January 7, 2020 but omitted the material fact of the original $4.8 million fair value, without which investors were not in a position to calculate the resulting loss.
Phunware has updated its disclosure on page F-73 of the Registration Statement to reflect that the term of the Series F Warrant is five years.
Cloopen’s Series F Warrant was exercised in full on January 7, 2021, and Cloopen issued 11,799,685 Series F Redeemable Convertible Preferred Shares to Novo.