Subdivision, Stock Dividends or Combinations. In case the Company shall at any time subdivide the outstanding shares of Securities subject to this Warrant or shall issue a stock dividend with respect to the Securities, the Warrant Price in effect immediately prior to such subdivision or the issuance of such dividend shall be proportionately decreased, and in case the Company shall at any time combine the outstanding shares of the Securities, the Warrant Price in effect immediately prior to such combination shall be proportionately increased, effective at the close of business on the date of such subdivision, dividend or combination, as the case may be. Simultaneously with any adjustment to the Warrant Price pursuant to this Section 3, the number of Warrant Stock shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such adjustment the aggregate Warrant Price payable hereunder for the increased or decreased number of Warrant Stock shares shall be the same as the aggregate Warrant Price in effect immediately prior to such adjustment
Appears in 2 contracts
Sources: Convertible Promissory Note (Jaguar Animal Health, Inc.), Convertible Promissory Note (Jaguar Animal Health, Inc.)