Common use of Exercise Price Warrants Clause in Contracts

Exercise Price Warrants. On the date of the consummation of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (the “Closing Date”), the Company shall issue and sell to each Purchaser, and each Purchaser shall purchase from the Company, an aggregate of 3,950,000 $11.50 Exercise Price Warrants at a price of $1.00 per warrant for an aggregate purchase price of $3,950,000 (the “Purchase Price”) per Purchaser, which shall be paid by wire transfer of immediately available funds to the Company in accordance with the Company’s wiring instructions at least one business day prior to the date of effectiveness of the registration statement on Form S-1 (File No. 333-262298) filed in connection with the Public Offering. On the Closing Date, the Company shall either, at its option, deliver to the Purchaser on such date certificates evidencing the $11.50 Exercise Price Warrants purchased by the Purchaser and duly registered in each Purchaser’s name, or effect such delivery in book-entry form.