Milestone Shares definition

Milestone Shares means, in respect of any Redemption Amount, such number of Vernalis Shares, if any, to be allotted and issued to satisfy such Redemption Amount in accordance with section 2.3.5;

Milestone Shares has the meaning set forth in Section 7.2.

Milestone Shares means, subject to clause 10.4, that number of Shares calculated in accordance with the following formula: S = P/VWAP Where: S equals the Milestone Shares; P equals the Milestone Shares Subscription Price; and VWAP equals the 28 day volume weighted average price of the Shares, traded on the ASX up to and including the date that is 1 Business Day prior to the date that the Milestone Shares Condition is satisfied or waived in accordance with this agreement.

Examples of Milestone Shares in a sentence

• A total of 2,000,000 of the Milestone Shares shall be released upon the completion of the development and release of the BETA version of the university instance desktop portal including integration feeds from OPINIT mobile application and the Foro mobile application.

• The remaining 2,000,000 Milestone Shares will be released pro-rata to the Opinit Shareholders in connection with the combined user counts of both the OPINIT mobile application and the Foro Mobile Application.

• As there is uncertainty in determining the possible fair value measurements of the Milestone Shares, the Company has not recorded any value with respect to the Milestone Shares.

• The total number of Milestone Shares issuable to Sativida will be determined by dividing the amount due by the volume weighted average closing price of the Company's common shares on the Canadian Securities Exchange in the ten trading days prior to the day that the Milestone Payment is due.

• In the event that Bunker either (i) is granted a cultivation licence(s) within 24 months or (ii) generates EUR 2,500,000 gross revenue in an 18-month period within 36 months after the date of this agreement, then the Company will issue the Milestone Shares to Bunker shareholders.

More Definitions of Milestone Shares

Milestone Shares means such number of shares of Parent Common Stock equal to twenty percent (20%) of the Total Merger Shares, rounded down to the nearest whole share.

Milestone Shares means those shares of Common Stock which may be issued upon satisfaction of certain milestone achievements by the Company and Target, to those Purchasers who are to receive such Milestone Shares pursuant to the terms of the Merger Agreement.

Milestone Shares means: (a) unregistered shares of the series of Ovid’s preferred stock most recently issued by Ovid if Ovid’s common stock is not listed for trading on a national securities exchange at the time of issuance of the Milestone Shares (Ovid being in such case, a “Private Company”); or (b) unregistered shares of Ovid’s common stock if Ovid’s common stock is listed for trading on a national securities exchange at the time of the issuance of the Milestone Shares (Ovid being in such case, a “Publicly Traded Company”).

Milestone Shares means the number of shares of Common Stock (rounded down to the nearest whole number) equal to the quotient of $3,950,000 divided by the Milestone Share Price, as may be adjusted pursuant to Section 2.2(b).

Milestone Shares means: (i) 2,519,091 shares of common stock of the Buyer, equal to 13% of the outstanding common stock of the Buyer immediately following the closing of the Financing plus 13% of the common stock of the Buyer underlying the Series B Preferred Shares (issued under the Financing) immediately following the closing of the Financing; plus (ii) 13% of the outstanding common stock of the Buyer issued upon exercise of any warrants (issued under the Financing) that have been exercised as of the second Business Day prior to the Milestone being achieved.

Milestone Shares shall have the meaning given that term in the Formation Agreement.

Milestone Shares means shares of Parent Common Stock issuable pursuant to the provisions of this Section 1.5(b).