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KBNT new 52 week low
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11/18/21
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Free
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(ii) If the 2022 Net Revenue for the MC Business exceeds Base Net Revenue (any such excess amount of Net Revenue is referred to herein as the “2022 New Net Revenue”) by the amount set forth in the left hand column of the following chart, then Seller shall be entitled to receive the number of shares of Buyer Common Stock designated in the right hand column of the following chart (such aggregate number of shares is referred to herein as the “New Business Earnout Shares”; and together with the Base Business Earnout Shares, if any, the “Earnout Shares”):
| 2022 New Net Revenue | New Business Earnout Shares | ||
| $1,500,000 million | 164,474 | ||
| > $1,500,000 million but <$3 million | An amount equal to the sum of (i) 164,474, plus (ii) the product of 411,184, multiplied by a fraction the numerator of which is the amount of 2022 New Net Revenue in excess of $1,500,000 and the denominator of which is $1,500,000 | ||
| $3 million or more | 575,658 |
https://www.otcmarkets.com/filing/html?id=15400715&guid=RfSwkHUxZWc5Oth
"Kubient, Inc.
Notes to Unaudited Condensed Consolidated Financial Statements
Stock Options
During the three months ended September 30, 2021, the holder of an option under the 2017 Plan to purchase 2,815 shares of the Company’s common stock at an exercise price of $2.97 per share exercised such option resulting in cash proceeds of $8,361 to the Company.
Stock Warrants
During the three months ended March 31, 2021, warrants to purchase an aggregate of 2,169,021 shares of the Company’s common stock were exercised at prices between $4.20 and $6.25 per share, resulting in net cash proceeds to the Company of $9,274,911 (net of issuance costs of $433,127) and the issuance of an aggregate of 2,047,361 shares of the Company's common stock and five-year warrants to purchase 773,000 shares of common stock at an exercise price of $5.50 per share.
During the three months ended June 30, 2021, warrants to purchase an aggregate of 112,647 shares of the Company’s common stock were exercised at prices between $4.20 and $6.25 per share, resulting in net cash proceeds to the Company of $428,719 (net of issuance costs of $32,270) and the issuance of an aggregate of 108,961 shares of the Company's common stock and five-year warrants to purchase 94,286 shares of common stock at an exercise price of $5.50 per share.
A summary of the warrant activity during the nine months ended September 30, 2021 is presented below:
[1] Excludes five-year warrants to purchase 368,711 shares of common stock at an exercise price of $5.50 per share that are issuable upon exercise of certain warrants.
The following table presents information related to stock warrants as of September 30, 2021:
| Preferred stock, $0.00001 par value; 5,000,000 shares authorized; No shares issued and outstanding as of September 30, 2021 and December 31, 2020 |
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| Common stock, $0.00001 par value; 95,000,000 shares authorized; 14,252,886 and 11,756,109 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively |
