New Conversion Price definition
Examples of New Conversion Price in a sentence
For the avoidance of doubt, if the New Conversion Price is greater than the Applicable Price, there shall be no adjustment to the Conversion Price.
If, on the day that is 181 days after the closing date of the Qualified Financing, the closing price of the securities issued in the Qualified Financing is less than the closing price of such securities on closing date of the Qualified Financing (the “New Conversion Price”), the Preferred Conversion Price then in effect shall be reduced to an amount equal to the New Conversion Price.
On the Maturity Date, accrued but unpaid interest and other amounts owing in respect thereof, shall be converted into at the Closing Conversion Price or New Conversion Price, as applicable.
The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this Debenture to be converted by (y) the Closing Conversion Price or the New Conversion Price, as applicable.
On or before the date which is one (1) day following the Closing Date, the Company shall, to the extent required or advisable by law, at its sole cost and expense and in accordance with the 1933 Act, file a prospectus supplement to the Current Registration Statement with the SEC describing the change of the conversion price to the Notes to the New Conversion Price and the exchange of the Initial Warrants with the Exchange Warrants as described herein.