Representative Warrant. The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Closing Date an option (“Representative’s Warrant”) for the purchase of an aggregate of [ ● ] Ordinary Shares, representing two percent (2%) of the Underlying Shares in respect of the Firm ADSs, for an aggregate purchase price of $[ ● ]. As specified in the Representative’s Warrant, in the form attached hereto as Exhibit B (the “Representative’s Warrant Agreement”), the Representative’s Warrant shall be exercisable, in whole or in part, commencing on the Effective Date and expiring on the five (5) year anniversary of the Effective Date at an initial exercise price calculated on the basis of $[ ● ] per Ordinary Share, which is equal to 41 2/3% of the per Firm ADS public offering price of the Firm ADSs (or 125% of the per Underlying Share price implied by such Firm ADS public offering price). The Representative’s Warrant Agreement and the Ordinary Shares issuable upon exercise thereof are hereinafter referred to as the “Representative’s Shares.” The Representative understands and agrees that there are significant restrictions pursuant to Rule 5110 of the Financial Industry Regulatory Authority, Inc. (“FINRA”) against transferring the Representative’s Warrant and the underlying Ordinary Shares during the one hundred eighty (180) days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Warrant, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; and only if any such transferee agrees to the foregoing lock-up restrictions.
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Representative Warrant. The Company hereby agrees to issue and sell to the Representative (and/or its designees) on the Closing Date an option (“Representative’s Warrant”) for the purchase of an aggregate of [ ● ] Ordinary Shares, representing two percent (2%) of the Underlying Shares in respect of the Firm ADSs, for an aggregate purchase price of $[ ● ]. As specified in the Representative’s Purchase Warrant, in the form attached hereto as Exhibit B (the “Representative’s Warrant Agreement”), the Representative’s Warrant shall be exercisable, in whole or in part, commencing on the Effective Date and expiring on the five (5) year anniversary of the Effective Date at an initial exercise price calculated on the basis of $[ ● ] per Ordinary Share, which is equal to 41 2/3% of the per Firm ADS public offering price of the Firm ADSs (or 125% of the per Underlying Share price implied by such Firm ADS public offering price)ADSs. The Representative’s Warrant Agreement and the Ordinary Shares issuable upon exercise thereof are hereinafter referred to as the “Representative’s Shares.” The Representative understands and agrees that there are significant restrictions pursuant to Rule 5110 of the Financial Industry Regulatory Authority, Inc. (“FINRA”) against transferring the Representative’s Warrant and the underlying Ordinary Shares during the one hundred eighty (180) days after the Effective Date and by its acceptance thereof shall agree that it will not sell, transfer, assign, pledge or hypothecate the Representative’s Warrant, or any portion thereof, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities for a period of one hundred eighty (180) days following the Effective Date to anyone other than (i) an Underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide officer or partner of the Representative or of any such Underwriter or selected dealer; and only if any such transferee agrees to the foregoing lock-up restrictions.
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