Common use of Class C Warrants Clause in Contracts

Class C Warrants. On the Initial Closing Date, the Company will issue and deliver Class C Warrants to the Subscribers. One Class C Warrant will be issued for each $2.50 of Purchase Price paid on the Initial Closing Date. The per Warrant Share exercise price to acquire a Warrant Share upon exercise of a Class C Warrant shall be $1.00. The Class C Warrants shall be exercisable until three (3) years after the Initial Closing Date.