AI
Friday, August 03, 2018 11:32:03 AM
"A warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed price called exercise price until the expiry date."
Unless the warrants are subject to an "adjustment provision" such as the ones that were issued with the last Private Placement. (See below)
"The Purchase Warrants will be exercisable beginning on the date of issuance (the “Initial Exercise Date”), at an exercise price of $2.00 per share and will expire on the five-year anniversary of the Initial Exercise Date. The Purchase Warrants include an adjustment provision that, subject to certain exceptions, reduces their exercise price if the Company issues Common Stock or Common Stock equivalents at a price lower than the then-current exercise price of the Purchase Warrants, subject to a minimum exercise price of $0.44 per share."
Sometimes it pays to be a bookworm.
Unless the warrants are subject to an "adjustment provision" such as the ones that were issued with the last Private Placement. (See below)
"The Purchase Warrants will be exercisable beginning on the date of issuance (the “Initial Exercise Date”), at an exercise price of $2.00 per share and will expire on the five-year anniversary of the Initial Exercise Date. The Purchase Warrants include an adjustment provision that, subject to certain exceptions, reduces their exercise price if the Company issues Common Stock or Common Stock equivalents at a price lower than the then-current exercise price of the Purchase Warrants, subject to a minimum exercise price of $0.44 per share."
Sometimes it pays to be a bookworm.
