Adjustment of Number of Shares Purchasable. Upon any adjustment of the Exercise Price pursuant to this Article V, the total number of shares of Underlying Stock purchasable upon the exercise of each Warrant shall be adjusted by multiplying the number of shares of Underlying Stock purchasable immediately prior to such adjustment by a fraction, (i) the numerator of which shall be the Exercise Price in effect immediately prior to such adjustment and (ii) the denominator of which shall be the Exercise Price resulting from such adjustment, and the product so obtained shall thereafter be the number of shares of Underlying Stock purchasable upon exercise of such Warrant.
Appears in 3 contracts
Sources: Warrant and Registration Rights Agreement, Warrant and Registration Rights Agreement (ARRIS International PLC), Warrant and Registration Rights Agreement (ARRIS International PLC)