Reverse Share Split Sample Clauses
A Reverse Share Split clause defines the process by which a company reduces the number of its outstanding shares by consolidating multiple existing shares into a smaller number of proportionally more valuable shares. For example, if a company enacts a 1-for-10 reverse split, every ten shares held by a shareholder are converted into one share, increasing the share price accordingly while the total value of each shareholder's holdings remains the same. This clause is typically used to increase the market price per share, often to meet stock exchange listing requirements or to improve the company's perceived value, thereby addressing issues related to low share prices.
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Reverse Share Split. The Company has taken all necessary corporate action to effectuate a reverse split of its Ordinary Shares on the basis of one (1) such Ordinary Share for each [●] ([●]) issued and outstanding Ordinary Shares thereof (the “Reverse Split”), such Reverse Split to be effective no later than [the first trading day of the Firm Shares following the date of this Agreement].]
Reverse Share Split. Not later than the first trading day of the Firm Shares following the date of this Agreement, the Reverse Share Split shall be effective].
Reverse Share Split. If at any time this Warrant is outstanding and the Company receives notice from the Trading Market that the Company is failing to satisfy the Trading Market’s minimum bid price requirement (the “Trigger Date”), then the Company shall take all necessary steps to obtain the necessary consents and approvals to undertake a reverse share split after such Trigger Date and shall, prior to the effectiveness of any delisting notice issued by the Trading Market, effect such reverse share split.
Reverse Share Split. (i) At the 2018 Reverse Share Split Time, a one-for-3.25 reverse split of the Company’s Common Shares shall become effective, pursuant to which each 3.25 Common Shares outstanding and held of record by a Member of the Company immediately prior to the 2018 Reverse Share Split Time shall be reclassified and combined into one Common Share automatically and without any action by any Member upon the 2018 Reverse Share Split Time and shall represent one Common Share from and after the 2018 Reverse Share Split Time.
(ii) At the 2018 Reverse Share Split Time, a one-for-3.25 reverse split of the Company’s Incentive Shares shall become effective, pursuant to which each 3.25 Incentive Shares outstanding and held of record by an Incentive Member of the Company immediately prior to the 2018 Reverse Share Split Time shall be reclassified and combined into one Incentive Share automatically and without any action by any Incentive Member upon the 2018 Reverse Share Split Time and shall represent one Incentive Share from and after the 2018 Reverse Share Split Time. The vesting schedule and other restrictions applicable to Incentive Shares issued pursuant to Award Agreements prior to the 2018 Reverse Share Split Time shall continue to apply to Incentive Shares following the 2018 Reverse Share Split Time.
(iii) No fractional Shares shall be issued as a result of the 2018 Reverse Share Split and in lieu thereof, any Member who would otherwise be entitled to a fractional Share as a result of the 2018 Reverse Share Split, following the 2018 Reverse Share Split Time, shall be entitled to receive a cash payment equal to the fraction of a Share to which such Member would otherwise be entitled multiplied by the fair value per Share immediately prior to the 2018 Reverse Share Split as determined by the Board.
2. Except as amended hereby, the Current Operating Agreement remains in full force and effect without modification.
3. This Amendment is governed by and shall be construed in accordance with the law of the State of Delaware, exclusive of its conflict-of-laws principles.
4. This Amendment may be executed in any number of counterparts with the same effect as if all parties had signed the same document, and all counterparts shall be construed together and shall constitute the same instrument. This Amendment may be executed by facsimile or other electronic signatures.
Reverse Share Split. The Purchaser shall have obtained a special resolution of the Purchaser approving the reverse share split for the Purchaser Shares which shall effect the proportional consolidation of the Purchaser Shares into a lower number of Purchaser Shares (the “Reverse Share Split”) if the Reverse Share Split is necessary before the Closing in order to comply with the NASDAQ listing requirement on the minimum share price.
Reverse Share Split. No later than the first trading day of the Firm Shares following the date of this Agreement, the Company shall effect a reverse stock split of the Common Stock at a ratio of one post-split share of Common Stock for every [two] pre-split shares of Common Stock.
Reverse Share Split. The Reverse Share Split became effective on November 2, 2022.
Reverse Share Split. Subsequent to the effectiveness of the Revised Forward Split and Prior to the Domestication, each outstanding Parent Ordinary Share existing as of October 14, 2024 shall be subject to a Reverse Split of one to four. As a result, the total outstanding Parent Ordinary Shares outstanding after giving effect to the Revised Forward Split and the Reverse Split, and immediately prior to the Domestication, shall be decreased from 189,265,804 to 47,316,451.
Reverse Share Split. Until the one (1) year anniversary of the Closing, Buyer shall use its best efforts to cause the Post-Closing Company to effect any reverse share split or equivalent action solely for the purpose of regaining compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”); provided that in no event shall the effective date of any reverse share split be earlier than January 15, 2026, unless otherwise approved by the Seller Representative in writing in advance. Until the eleven (11) month anniversary of the date the Company first regains compliance with the Minimum Bid Price Rule following the date of this Agreement, the Buyer shall use best efforts to cause the Post-Closing Company not to effect any reverse share split or equivalent action, unless otherwise approved by the Seller Representative in writing in advance, or except that such action is required to regain compliance with the Minimum Bid Price Rule.
Reverse Share Split. The Reverse Share Split has been duly authorized, and the Common Shares issued in the Reverse Share Split have been duly authorized and validly issued, are fully paid and non-assessable, and were issued in accordance with all applicable securities laws, and none of such Common Shares was issued in violation of any preemptive rights, resale rights, rights of first offer or refusal or other similar rights. Completion of the Reverse Share Split did not result in any violation of (i) the provisions of the amended and restated declaration of trust or bylaws or other organizational document, as applicable, of the Company or any of its subsidiaries or (ii) any applicable law, statute, rule, regulation, judgment, order, writ or decree of any Governmental Entity, except in the case of clause (ii) only, for any such violation that would not, singly or in the aggregate, result in a Material Adverse Effect.