Common use of Warrant Adjustments Clause in Contracts

Warrant Adjustments. If the Company at any time while the Warrants are outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective price per share less than $6.00 per share (such lower price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”), then simultaneously with the consummation of each Dilutive Issuance the Exercise Price of this Warrant shall be reduced and only reduced to equal the Base Share Price. For example, if the Company issues Common Stock at $6.50 per share, then there shall be no adjustment under this Section 4.4. However, if the Company issues Common Stock at $5.50 per share, then there shall be an adjustment under this Section 4.4, and the exercise price of the Warrants would be reduced to $5.50 per share, subject to Section 4.4.5, below. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding the foregoing, no adjustments shall be made, paid or issued under this Section 4.4 in respect of an Exempt Issuance. Such adjustment shall become effective immediately after the opening of business on the day following the record date fixed for determination of stockholders entitled to receive such rights.

Warrant Adjustments. If the Company at any time while the Warrants are outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents, at an effective price per share less than $6.00 4.54 per share (such lower price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”), then simultaneously with the consummation of each Dilutive Issuance the Exercise Price of this Warrant shall be reduced and only reduced to equal the Base Share Price. For example, if the Company issues Common Stock at $6.50 4.54 per share, then there shall be no adjustment under this Section 4.4. However, if the Company issues Common Stock at $5.50 per share, then there shall be an adjustment under this Section 4.4, and the exercise price of the Warrants would be reduced to $5.50 per share, subject to Section 4.4.5, below. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding the foregoing, no adjustments djustments shall be made, paid or issued under this Section 4.4 in respect of an Exempt Issuance. Such adjustment shall become effective immediately after the opening of business on the day following the record date fixed for determination of stockholders entitled to receive such rights.