Mandatory Exercise. The Company may require the Holder to exercise the Warrants, if, after the Issuance Date, (i) the Common Stock closes above $1.25 per share on the Principal Market each Trading Day for 10 consecutive Trading Days (the “10 Day Period”) prior to the Termination Date, (ii) during the 10 Day Period, the average daily volume must exceed $75,000 and (iii) there is an effective registration statement covering the shares underlying this Warrant. The Company shall give the Holder 5 days written notice if the foregoing conditions are met, and the Holder shall have 10 days from the date of receipt of the notice to pay the Exercise Price on the Warrants in which case the Company shall issue and deliver to the Holder the shares of Common Stock in the time and manner required by this Warrant. Any Warrants not exercised prior to the end of such 10 day period will expire.
Appears in 3 contracts
Samples: Esports Entertainment Group, Inc., Esports Entertainment Group, Inc., Esports Entertainment Group, Inc.
Mandatory Exercise. The Company may require the Holder to exercise the Warrants, if, after the Issuance Date, (i) the Common Stock closes above $1.25 per share on the Principal Market each Trading Day for 10 consecutive Trading Days (the “"10 Day Period”") prior to the Termination Date, (ii) during the 10 Day Period, the average daily volume must exceed $75,000 and (iii) there is an effective registration statement covering the shares underlying this Warrant. The Company shall give the Holder 5 days written notice if the foregoing conditions are met, and the Holder shall have 10 days from the date of receipt of the notice to pay the Exercise Price on the Warrants in which case the Company shall issue and deliver to the Holder the shares of Common Stock in the time and manner required by this Warrant. Any Warrants not exercised prior to the end of such 10 day period will expire.
Appears in 1 contract
Samples: Esports Entertainment Group, Inc.