Examples of Valuation Cap in a sentence
In February 2017, one of the 2015 Notes, in the principal amount of $9,167, was converted at a conversion price equal to the $4,000,000 Voluntary Conversion Valuation Cap (as defined below) into 15,565 shares of our common stock.
The term "Conversion Price" means an amount equal to the lesser of (i) eighty percent (80%) of the per share price paid in the Financing or (ii) the price equal to the quotient of the Valuation Cap (as defined below) divided by the aggregate number of outstanding shares of the Company's Common Stock as of immediately prior to the initial closing of the Financing (assuming full conversion or exercise of all convertible and exercisable securities then outstanding other than the Series Notes).
Transaction Structure (1) Valuation Cap Structure / PF Leverage PF Ownership Listing • Thunder Bridge Acquisition, Ltd.
The second of the 2015 Notes, with a principal balance of nine thousand one hundred sixty-seven dollars ($9,167), was converted at a conversion price equal to the four million dollar ($4,000,000) Voluntary Conversion Valuation Cap (as defined below) into 15,565 shares of our common stock in February 2017.
Upon the occurrence of an Event of Default or if the Note has not been converted or repaid prior to the Maturity Date, the Holder shall be entitled, upon Xxxxxx’s election, to convert the Outstanding Amount of this Note into shares of a newly created series of Preferred Stock at a per share conversion price equal to (i) the Valuation Cap Amount divided by (ii) the number of Outstanding Shares (a “Maturity Conversion”).