{"component": "clause", "props": {"groups": [{"snippet": "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 [\u25cf] ([\u25cf]) issued and outstanding Ordinary Shares thereof (the \u201cReverse Split\u201d), such Reverse Split to be effective no later than [the first trading day of the Firm Shares following the date of this Agreement].]", "samples": [{"hash": "feLFW33Ugl6", "uri": "/contracts/feLFW33Ugl6#reverse-share-split", "label": "Underwriting Agreement (Regentis Biomaterials Ltd.)", "score": 36.7453804016, "published": true}, {"hash": "3K75qeeEggH", "uri": "/contracts/3K75qeeEggH#reverse-share-split", "label": "Underwriting Agreement (Regentis Biomaterials Ltd.)", "score": 36.5126609802, "published": true}, {"hash": "8kSfnk8Eaaq", "uri": "/contracts/8kSfnk8Eaaq#reverse-share-split", "label": "Underwriting Agreement (Regentis Biomaterials Ltd.)", "score": 36.3401794434, 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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.\n(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.\n2. Except as amended hereby, the Current Operating Agreement remains in full force and effect without modification.\n3. 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.\n4. 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. 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Ordinary Shares (the \u201cOutstanding Shares\u201d), issued and outstanding, less the number of shares reserved for issuance upon exercise of the Company Warrants, as set forth on Part 2 of Schedule B (as adjusted for the Reverse Share Split, as set forth on Part 3 of Schedule B), as the same may be amended by the Company no later than one (1) Business Day prior to the Closing solely to reflect the exercise of the Company Warrants pursuant to the Warrant Agreements (the \u201cReverse Share Split\u201d), with the ratio of such Reverse Share Split based on a valuation of the Company of Four Hundred Fifty Million U.S. Dollars ($450,000,000).", "samples": [{"hash": "7PXxfLEsP4x", "uri": "/contracts/7PXxfLEsP4x#reverse-share-split", "label": "Agreement and Plan of Merger (TMT Acquisition Corp.)", "score": 35.1601638794, "published": true}], "snippet_links": [{"key": "prior-to-the-closing", "type": "clause", "offset": [0, 20]}, {"key": "the-company-shall", "type": "clause", "offset": [22, 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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.", "samples": [{"hash": "7ckpPZPRRJ8", "uri": "/contracts/7ckpPZPRRJ8#reverse-share-split", "label": "Amendment 1 to Amended and Restated Agreement and Plan of Merger (Triller Group Inc.)", "score": 35.8035583496, "published": true}], "snippet_links": [{"key": "subsequent-to-the", "type": "clause", "offset": [0, 17]}, {"key": "effectiveness-of-the", "type": "clause", "offset": [18, 38]}, {"key": "forward-split", "type": "definition", "offset": [47, 60]}, {"key": "the-domestication", "type": "clause", "offset": [74, 91]}, {"key": "subject-to", "type": "clause", "offset": [173, 183]}, {"key": "reverse-split", "type": "definition", "offset": [186, 199]}, {"key": "total-outstanding", "type": "definition", "offset": [233, 250]}, {"key": "shares-outstanding", "type": "definition", "offset": [267, 285]}, {"key": "after-giving", "type": "clause", "offset": [286, 298]}], "size": 1, "hash": "354129a709c3883fc185ab13adc955b6", "id": 10}], "next_curs": "ClwSVmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjgLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhxyZXZlcnNlLXNoYXJlLXNwbGl0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"children": [], "parents": [["miscellaneous", "Miscellaneous"], ["conditions-of-underwriters-obligations", "Conditions of Underwriters\u2019 Obligations"], ["representations-and-warranties-of-the-company", "Representations and Warranties of the Company"], ["conditions-to-the-acquisition", "Conditions to the Acquisition"], ["conditions-to-the-obligations-of-the-purchaser", "Conditions to the Obligations of the Purchaser"]], "title": "Reverse Share Split", "size": 39, "id": "reverse-share-split", "related": [["reverse-stock-split", "Reverse Stock Split", "Reverse Stock Split"], ["reverse-split", "Reverse Split", "Reverse Split"], ["reverse-splits", "Reverse Splits", "Reverse Splits"], ["stock-split", "Stock Split", "Stock Split"], ["mergers-recapitalizations-stock-splits-etc", "Mergers, Recapitalizations, Stock Splits, Etc", "Mergers, Recapitalizations, Stock Splits, Etc"]], "related_snippets": [], "updated": "2026-03-28T04:49:54+00:00", "also_ask": ["What protections should be included to prevent shareholder dilution post-split?", "How can the timing and ratio of the reverse split be negotiated to benefit minority shareholders?", "What are the most common legal challenges to enforceability of reverse share splits in court?", "How do reverse share split provisions differ across key jurisdictions or stock exchanges?", "What are the critical disclosure requirements to avoid regulatory or shareholder disputes?"], "drafting_tip": "Specify the split ratio and effective date to ensure clarity; define treatment of fractional shares to prevent disputes; require board approval to maintain corporate governance.", "explanation": "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."}, "json": true, "cursor": ""}}