Raising of the Capital in Connection with the Initial Business Combination. If the Company issues additional shares of Common Stock or equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Common Stock (with such issue price or effective issue price to be determined in good faith by the Board, and in the case of any such issuance to the holders of the Company’s shares of Class B common stock, par value $0.0001 per share (the “founder shares”), or their respective affiliates, without taking into account any founder shares held by them, as applicable, prior to such issuance) (the “Newly Issued Price”), the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the Newly Issued Price.
Appears in 3 contracts
Sources: Public Warrant Agreement (Next.e.GO B.V.), Public Warrant Agreement (Athena Consumer Acquisition Corp.), Private Warrant Agreement (Athena Consumer Acquisition Corp.)