InvestorsHub Logo
icon url

tenenbaum

11/05/09 8:47 AM

#9537 RE: Drexion2004 #9534

I don't see a 2/1 split filing on TMI either. Seems positive, though, if it's the case.

The warrant share payout would be adjusted in the case of a split. Here is the applicable section from the warrant agreement filed in the 9/11/07 S-1 filing:

" 4.1.1 STOCK DIVIDENDS — SPLIT-UPS. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a split-up of shares of Common Stock, or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock. "