Examples of Series S Warrants in a sentence
The Series S Warrant Shares to be issued by the Company upon exercise of the Series S Warrants have been duly authorized and, when issued in accordance with the Series S Warrants against payment in full therefor, will be legally issued, fully paid and nonassessable.
As of July 31, 2015, 2,088,769 Series S Warrants had been exercised, and the Company received proceeds of $2,610,961.
Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Series S Warrants shall be allocated to the Holder and the remaining holders of Series S Warrants, pro rata based on the shares of Common Stock issuable upon exercise of the Series S Warrants then held by such holders (without regard to any limitations on the exercise of the Series S Warrants).
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the holders of Series S Warrants representing at least two-thirds of the shares of Common Stock issuable upon exercise of such Series S Warrants.
If the Company issues additional Series S Warrants in the future in certificated form under a warrant agreement between the Company and a warrant agent, the Holder agrees, upon notice from the Company, to exchange this Warrant for a warrant certificate evidencing the rights of the Holders hereunder.
As of September 30, 2016, 2,088,769 Series S Warrants had been exercised, and the Company received proceeds of $2,610,961.
The Series S Warrants have an exercise price of $0.01 per share, subject to adjustment in the event of stock dividends, stock splits and similar transactions.
The initial number of shares of Common Stock reserved for exercise of this Warrant and the other Series S Warrants and each increase in the number of shares so reserved shall be allocated pro rata among the Holder and the holders of the other Series S Warrants, based on the number of shares of Common Stock issuable upon exercise of this Warrant (without regard to any limitations in exercise) issued to the Holder on the Issuance Date (the “Authorized Share Allocation”).
Effective July 3, 2017, we consummated the sale of securities pursuant to the agreement, upon the issuance by us of a 15.0% senior secured promissory note with a principal amount of $5,000,000 to Scopia; the issuance by us of an aggregate of 2,660,000 Series S Warrants to purchase shares of our common stock to Scopia and its designees; and the delivery by Scopia to us of $4.8 million in cash, representing the principal amount of the secured promissory note net of Scopia’s costs.
As of the date hereof, 1,186,080 of the Series S Warrants have been exercised (including 122,360 on a cashless basis).