Tranche 2 Conversion Price definition

Tranche 2 Conversion Price means the price per share of the Company which corresponds to the volume-weighted average price per CDI on the ASX during the 30 trading days immediately preceding the day on which the relevant Conversion Event occurs, multiplied by 1,000 since one (1) CDI represents the economic ownership of 1/1,000th in one (1) share of the Company, provided that the Tranche 2 Conversion Price may not be less than the fractional nominal amount per share in the Company’s nominal share capital.
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Tranche 2 Conversion Price means the 30-day preceding VWAP of the Company’s Common Stock on The Nasdaq Stock Market prior to the Tranche 2 Closing Date (as adjusted for stock splits, combinations, stock dividends, recapitalizations and the like), but in no event (i) less than eighty percent (80%) of the then applicable Tranche 1 Conversion Price or (ii) greater than two-times (2x) the then applicable Tranche 1 Conversion Price.
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Tranche 2 Conversion Price means $1.70.
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Examples of Tranche 2 Conversion Price in a sentence

  • If the Company, whilst any Notes are outstanding, shall combine its Ordinary Shares, the Tranche 1 Conversion Price and Tranche 2 Conversion Price then in effect immediately before the combination shall be proportionately increased.

  • If the Company, whilst any Notes are outstanding, shall effect a subdivision of its Ordinary Shares, the Tranche 1 Conversion Price and Tranche 2 Conversion Price (if any) then in effect immediately before that subdivision shall be proportionately decreased.

  • When any adjustment is required to be made in the Tranche 1 Conversion Price or Tranche 2 Conversion Price pursuant to paragraph 14 or 15, the number of Ordinary Shares issuable upon conversion of a Note shall be calculated by reference to the revised Tranche 1 Conversion Price or Tranche 2 Conversion price following the adjustment made by paragraph 14 or 15.

  • For the avoidance of doubt, if Stockholder Approval is obtained prior to the Tranche 2 Closing, the securities issued and sold at the Tranche 2 Closing will be shares of Common Stock (at price a per share equal to the Tranche 2 Conversion Price) rather than shares of Series B Convertible Preferred Stock.