Definition of HBI Average Closing Price


HBI Average Closing Price means the volume-weighted average closing price, rounded to the nearest hundredth of a cent, of HBI Common Stock (defined below) on the NASDAQ Stock Exchange reporting system (based on "regular way" trading) for the twenty (20) trading days through the day immediately preceding the Closing Date; provided, however, that in the event that the HBI Average Closing Price, calculated as provided in this definition, equals $37.95 or greater, then the HBI Average Closing Price shall be $37.95 (the "Maximum Price"); and, provided, further, that if the HBI Average Closing Price equals $28.05 or less, then the HBI Average Closing Price shall be $28.05 (the "Minimum Price"). The Maximum Price and the Minimum Price shall be proportionally adjusted in the event that outstanding shares of HBI Common Stock shall be changed into a different number of shares by reason of any stock dividend, reclassification, recapitalization, split-up, combination, exchange of shares or similar transaction between the Agreement Date and the Effective Time.

Examples of HBI Average Closing Price in a sentence

Exchange Ratio means the quotient, rounded to the nearest ten-thousandth, obtained by dividing (x) Total Consideration by (y) the Company Diluted Shares by (z) HBI Average Closing Price.
Total Stock Consideration means that number of shares of HBI Common Stock obtained by dividing (x) Seventy Million Dollars ($70,000,000) by (y) the HBI Average Closing Price.