Blum Holdings Inc (BLMH)

[britto106]

Full Ratchet Protection! OMG
Pursuant to the terms of the Purchase Agreement, we also agreed to grant to the Purchasers a series of warrants to purchase up to that number of shares of Common Stock equal to 25% of the principal amount of the Notes issuable to the Purchasers at the applicable Tranche divided by the conversion price of the applicable Note. The per-share exercise price of the Warrants is $0.50, subject to certain adjustments for (i) stock splits, stock dividends, combinations, or similar events and (ii) certain dilutive issuances for which we have provided the Purchasers with full ratchet protection. The Warrants have a term of four years. The Warrants are exercisable at any time on or after the issuance date of the Warrants on a cashless or cash basis. However, the Warrants may be exercised only for cash if the Warrant Shares are the subject of an effective Registration Statement.