Common use of WARRANT TO PURCHASE PREFERRED STOCK Clause in Contracts

WARRANT TO PURCHASE PREFERRED STOCK. For value received and subject to the provisions set forth in this warrant (this “Warrant”), PINNACLE VENTURES III EQUITY HOLDINGS, L.L.C. and its assigns (the “Holder”) are entitled to purchase from CHEGG, INC., a Delaware corporation (the “Company”): Warrant Coverage: $590,437.50 (i.e., 7.8725% of $7,500,000) upon your execution of this Warrant and up to a maximum of $290,812.50 additional warrant coverage, determined as 3.8775% of any Advance (as defined in the Loan Agreement (as defined below)) Shares of Preferred Stock: 181,673 shares of Series C-2 Preferred Stock on the date hereof and up to an additional 89,481 shares based upon Advances (as defined in the Loan Agreement (as defined below)) (subject to adjustment in accordance with the terms of this Warrant) Exercise Price: $3.25 per share (subject to adjustment in accordance with the terms of this Warrant)

Appears in 1 contract

Sources: Warrant to Purchase Preferred Stock (Chegg, Inc)

WARRANT TO PURCHASE PREFERRED STOCK. For value received and subject to the provisions set forth in this warrant (this “Warrant”), PINNACLE VENTURES III II EQUITY HOLDINGS, L.L.C. and its assigns (the “Holder”) are entitled to purchase from CHEGG, INC., a Delaware corporation (the “Company”): Warrant Coverage: $590,437.50 (i.e., 7.8725% of $7,500,000) upon your execution of this Warrant and up to a maximum of $290,812.50 additional warrant coverage, determined as 3.8775% of any Advance (as defined in the Loan Agreement (as defined below)) Shares of Preferred Stock: 181,673 shares of Series C-2 Preferred Stock on the date hereof and up to an additional 89,481 shares based upon Advances (as defined in the Loan Agreement (as defined below)) (subject to adjustment in accordance with the terms of this Warrant) Exercise Price: $3.25 per share (subject to adjustment in accordance with the terms of this Warrant)

Appears in 1 contract

Sources: Warrant Agreement (Chegg, Inc)