Fractional Warrants Sample Clauses
The Fractional Warrants clause defines how the issuance or exercise of warrants is handled when the result would be a fractional share. Typically, this clause specifies that no fractional shares will be issued; instead, the holder may receive cash in lieu of the fraction or the amount may be rounded up or down according to the agreement. For example, if exercising warrants would entitle someone to 10.5 shares, the clause would determine whether they receive 10 shares plus cash for the 0.5, or simply 10 shares. This clause ensures administrative simplicity and avoids complications associated with issuing and managing fractional shares.
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Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of which is comprised of one Ordinary Share and one-third of one whole Public Warrant. If, upon the detachment of Public Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder.
Fractional Warrants. The Company shall not issue fractional Warrants.
Fractional Warrants. The Warrant Agent shall not effect any registration of Transfer or exchange which will result in the issuance of a fraction of a Warrant.
Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.
Fractional Warrants. The Company shall not be required to effect any registration of transfer or exchange which shall result in the issuance of a warrant certificate or book-entry position for a fraction of a warrant.
Fractional Warrants. The Company shall not issue fractional Warrants. If a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number of Warrants to be issued to such holder.
Fractional Warrants. Section 2.5 of the Existing Warrant Agreement is hereby amended by deleting such Section and replacing it entirely as follows:
Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of which is comprised of one Subunit and one-quarter of one whole Warrant or as part of the Subunits, each of which is comprised of one share of Common Stock and one-quarter of one whole Warrant. If, upon the detachment of Warrants from the Units, Subunits or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder.
Fractional Warrants. The Company shall not issue fractional Warrants other than as part of the Units. If upon the detachment of Warrants from the Units or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, The Company shall round down to the nearest whole number of Warrants to be issued to such holder. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Warrant certificate or book-entry position for a fraction of a Warrant, except as part of the Units.
Fractional Warrants. The Company shall not issue fractional Warrants other than as part of Units, each of which is comprised of one share of Common Stock and one-fifth of one Public Warrant. If, upon the detachment of Public Warrants from Units following the Detachment Date or otherwise, a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number the number of Warrants to be issued to such holder. The Warrant Agent shall not be required to effect any registration of transfer or exchange of Warrants which would result in the issuance of a Warrant certificate or book-entry position for a fraction of a Warrant, except as part of the Units.