Warrants Outstanding. At and after the Effective Time, each of the -------------------- outstanding and unexercised warrants to purchase 150,000 Shares in the aggregate issued in connection with the Company's initial public offering (the "Warrants") shall continue to be outstanding and, upon payment of the exercise price then in effect, the holder of such Warrant shall be entitled to receive upon exercise of such Warrant the amount of cash (without interest) which the holder of such Warrant would have been entitled to receive upon exercise had such Warrants been exercised immediately prior to the Effective Time.
Appears in 2 contracts
Sources: Agreement and Plan of Merger and Reorganization (Seawolf Acquisition Corp), Merger Agreement (Seda Specialty Packaging Corp)