Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event that the Company elects to redeem the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean the closing price of the Class A ordinary shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given. The Company may elect to redeem the Warrants even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. The Company shall use its best efforts to register or qualify such Class A ordinary shares under the blue sky laws of the state of residence in those states in which the Public Warrants were offered in the Offering.
Appears in 2 contracts
Sources: Warrant Agreement (Sports Ventures Acquisition Corp.), Warrant Agreement (Sports Ventures Acquisition Corp.)