Adjustment of Exercise Price and Warrant Shares Sample Clauses
The "Adjustment of Exercise Price and Warrant Shares" clause defines how the terms of a warrant—specifically the exercise price and the number of shares purchasable—may be modified in response to certain corporate events. For example, if the issuing company undergoes a stock split, issues dividends, or conducts a merger, the exercise price and the number of warrant shares are recalculated to ensure the warrant holder’s economic position remains unchanged. This clause is essential for protecting warrant holders from dilution or unintended changes in value due to corporate actions, thereby maintaining fairness and predictability in the warrant agreement.
Adjustment of Exercise Price and Warrant Shares. After each adjustment of the Exercise Price pursuant to this Section 8, the number of Warrant Shares purchasable upon the exercise of each Warrant shall be the number receivable upon exercise thereof prior to such adjustment multiplied by a fraction, the numerator of which shall be the original Exercise Price as defined in Section 3 above and the denominator of which shall be such adjusted Exercise Price. The Exercise Price shall be subject to adjustment as set forth below:
(i) In case the Company shall hereafter (A) pay a dividend or make a distribution on its Common Stock in shares of its capital stock (whether shares of Common Stock or of capital stock of any other class), (B) subdivide its outstanding shares of Common Stock, (C) combine its outstanding shares of Common Stock into a smaller number of shares, or (D) issue by reclassification of its shares of Common Stock any shares of capital stock of the Company, the Exercise Price in effect immediately prior to such action shall be adjusted so that the Registered Holder of any Warrant thereafter exercised shall be entitled to receive the number of shares of capital stock of the Company which he would have owned immediately following such action had such Warrant been exercised immediately prior thereto. An adjustment made pursuant to this subsection shall become effective immediately after the record date in the case of a dividend and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification. If, as a result of an adjustment made pursuant to this subsection, the Registered Holder of any Warrant thereafter exercised shall become entitled to receive shares of two or more classes of capital stock of the Company, the Board of Directors (whose determination shall be conclusive and shall be described in a statement filed with the Warrant Agent) shall determine the allocation of the adjusted Exercise Price between or among shares of such classes of capital stock.
(ii) In any case in which this Section 8(a) shall require that an adjustment to the Exercise Price be made immediately following a record date, the Company may elect to defer (but only until five business days following the filing by the Company with the Warrant Agent of the certificate of independent public accountants described in subsection (i) of Section 8(d)) issuing to the holder of any Warrants exercised after such record date the shares of Common Stock and other capital stock of t...
Adjustment of Exercise Price and Warrant Shares. The Exercise Price and the number of Warrant Shares shall be subject to adjustment from time to time upon the happening of certain events as described in this Section 3.
Adjustment of Exercise Price and Warrant Shares. The Exercise Price and Warrant Shares issuable upon exercise of this Warrant shall be subject to adjustment from time to time as provided in this Section 4. Upon each adjustment of the Exercise Price pursuant to Section 4.1 or 4.2, the Holder shall thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, and the number of Warrant Shares subject to this Warrant shall be deemed adjusted to represent, the number of Warrant Shares obtained by multiplying the Exercise Price in effect immediately prior to the adjustment of the Exercise Price by the number of Warrant Shares purchasable hereunder immediately prior to the adjustment of the Exercise Price and dividing the product thereof by the Exercise Price resulting from such adjustment.
Adjustment of Exercise Price and Warrant Shares. If the Company shall subdivide its outstanding shares of Common Stock by stock split or stock dividend, the Exercise Price then existing hereunder shall proportionately decrease and if the Company shall combine its outstanding shares of Common Stock by stock combination, the Exercise Price then existing hereunder shall proportionately increase. If the Company shall subdivide its outstanding shares of Common Stock by stock split or stock dividend, the number of Warrant Shares issuable hereunder shall proportionately increase and if the Company shall combine its outstanding shares of Common Stock by stock combination, the number of Warrant Shares issuable hereunder shall proportionately decrease.
Adjustment of Exercise Price and Warrant Shares. (a) If at any time prior to the expiration of the Warrants by their terms or by exercise, the Company increases or decreases the number of its issued and outstanding shares of Common
Adjustment of Exercise Price and Warrant Shares. The Exercise Price and number of Warrant Shares purchasable under the Series B Warrants are subject to adjustment from time to time as set forth in this Section 5.1.
(a) In case the Company shall at any time: (i) subdivide the outstanding Common Shares into a larger number of shares other than pursuant to Section 5.1 (b), the Exercise Price in effect immediately prior to such subdivision shall be proportionately decreased, effective from and after the record date of such subdivision; and 8
Adjustment of Exercise Price and Warrant Shares. The number of Warrant Shares (or any shares of stock or other securities or property at the time receivable or issuable upon exercise of this Warrant) and the Warrant Price therefor are subject to adjustment upon the occurrence of the following events:
Adjustment of Exercise Price and Warrant Shares. (a) If, at any time prior to the Expiration Date, the number of outstanding shares of Common Stock is (i) increased by a stock dividend payable in shares of Common Stock or by a subdivision or split-up of shares of Common Stock or (ii) decreased by a combination of shares of Common Stock, then, following the record date fixed for the determination of holders of Common Stock entitled to receive the benefits of such stock dividend, subdivision, split-up, or combination, the Exercise Price shall be adjusted to a new amount equal to the product of (I) the Exercise Price in effect on such record date and (II) the quotient obtained by dividing (x) the number of shares of Common Stock outstanding on such record date (without giving effect to the event referred to in the foregoing clause (i) or (ii)), by (y) the number of shares of Common Stock which would be outstanding immediately after the event referred to in the foregoing clause (i) or (ii), if such event had occurred immediately following such record date.
(b) Upon each adjustment of the Exercise Price as provided in Section 4(a), the Warrantholder shall thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock that the Warrantholder was entitled to purchase prior to such adjustment and (ii) the quotient obtained by dividing (x) the Exercise Price existing prior to such adjustment by (y) the new Exercise Price resulting from such adjustment.
Adjustment of Exercise Price and Warrant Shares. The Exercise Price and the number of Shares subject to this Warrant shall be subject to adjustment from time to time as follows:
Adjustment of Exercise Price and Warrant Shares. In the event of any adjustment (the "Series F Adjustment") of the Conversion Price of the Series F Preferred Stock (as such terms are defined in the Certificate of Incorporation of the Company, as amended), (a) the Warrant Share Number shall be adjusted to equal the number obtained by multiplying the Warrant Share Number, as in effect immediately prior to such Series F Adjustment, by a fraction, the numerator of which shall be the Conversion Price as in effect immediately prior to such Series F Adjustment and the denominator of which is the Conversion Price after giving effect to such Series F Adjustment; and (b) the Exercise Price shall be adjusted to equal the Conversion Price as in effect immediately after such Series F Adjustment.