Nasdaq Rule. Holder shall, in the aggregate, not be entitled to exercise this Warrant into such total number of Warrant Shares which would exceed Holders’ ownership (inclusive of all other Common Stock, warrants and other convertible instruments as may otherwise be held by Holder) of 19.99% of the Company’s Common Stock issued and outstanding, which number shall be subject to readjustment for any stock split, stock dividend or reclassification of the Common Stock (hereinafter the "20% CAP"), unless such issuance has been duly approved by the shareholders of the Company. In the event that, due to the 20% Cap, the Holder may not exercise all of its Warrant Shares, then the Company shall utilize its best efforts to receive shareholder approval to authorize and issue all shares of Common Stock issuable upon exercise of the Warrants.
Appears in 2 contracts
Sources: Common Stock Purchase Warrant (Heart Test Laboratories, Inc.), Common Stock Purchase Warrant (Heart Test Laboratories, Inc.)