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In connection with the conversions of the 2016 Notes in Item 3.02 hereof (the “Conversions”), the exercise prices of certain of our issued and outstanding securities were automatically adjusted to take into account the conversion price of the 2016 Notes. The exercise prices of the following securities were adjusted as follows.
Class A and Class B Warrants
As of January 20, 2017, the Company had outstanding Class A Warrants to purchase 48 shares of common stock and Class B Warrants to purchase 29 shares of common stock of the Company. The Class A and Class B Warrants include a provision which provides that the exercise price of the Class A and Class B Warrants will be adjusted in connection with certain equity issuances by the Company. The consummation of the Conversions triggers an adjustment to the exercise price of the Class A and Class B Warrants. Therefore, as of January 20, 2017, the exercise price for the Class A and Class B Warrants was adjusted from $2.53 to $0.0019 per share of common stock.
Common Stock Warrants
As of January 20, 2017, the Company had outstanding certain common stock warrants to purchase 2 shares of common stock of the Company. As a result of the Conversions, as of January 20, 2017, the exercise price for certain Common Warrants was adjusted from $2.53 to $0.0019 per share of common stock.
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Series B Warrants
As of January 20, 2017, the Company has outstanding Series B Warrants to purchase 36 shares of common stock of the Company. The Series B Warrants include a provision which provides that the exercise prices of the Series B Warrants will be adjusted in connection with certain equity issuances by the Company. As a result of the Conversions, as of January 20, 2017, the exercise price for certain Common Warrants was adjusted from $27.5 million to $8.9 million per share of common stock.
Series D and 2015 Subordination Warrants
As of January 20, 2017, the Company has outstanding Series D Warrants to purchase 2,361,468 shares of common stock and 2015 Subordination Warrants to purchase 71,129 shares of common stock of the Company. The Series D and 2015 Subordination Warrants include a provision which provides that the exercise prices of the Series D and 2015 Subordination Warrants will be adjusted in connection with certain equity issuances by the Company. The consummation of the Conversions triggers an adjustment to the exercise price of the Series D and 2015 Subordination Warrants. Therefore, as of January 20, 2017, the exercise price for the Series D and 2015 Subordination Warrants was adjusted from $2.53 to $0.0019 per share of common stock.
Series G Warrants
As of January 20, 2016, the Company had outstanding Series G Warrants to purchase 159 shares of common stock of the Company. The Series G Warrants include a provision which provides that the exercise price of the Series G Warrants will be adjusted in connection with certain equity issuances by the Company. The consummation of the Conversions triggers an adjustment to the exercise price of the Series G Warrants. Therefore, as of January 20, 2017, the exercise price for the Series G Warrants was adjusted from $2.53 to $0.0019 per share of common stock.
