Amendment to Warrant to Purchase 500,000 Shares – Innovus Pharmaceuticals, Inc. and Vista Capital Investments, LLC (January 21, 2015)

Contract Categories: Business Finance › Warrant Agreements
Summary

Innovus Pharmaceuticals, Inc. and Vista Capital Investments, LLC have agreed to amend a warrant originally issued for the purchase of 500,000 shares of Innovus common stock. If Innovus secures at least $1,000,000 in financing by March 31, 2015, and repays a related note in full within ten days of receiving funds (but no later than May 10, 2015), the warrant will be modified: anti-dilution provisions will be removed, and the exercise price will be set at $0.075 per share. All other warrant terms remain unchanged.

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EX-10.07 8 ex10-7.htm FORM OF WARRANT AMENDMENT, DATED JANUARY 21, 2015 ex10-7.htm
Exhibit 10.07
 
AMENDMENT
TO THE WARRANT TO PURCHASE 500,000 SHARES OF
COMMON STOCK DATED January 21, 2015
 
 

The parties agree that the Warrant to purchase 500,000 shares of common stock issued by Innovus Pharmaceuticals, Inc. (the “Company”) to Vista Capital Investments, LLC (the “Holder”) on January 21, 2015 (the “Warrant”), is hereby amended as follows:

In the event that both of the following two conditions are met; 1) the Company enters into a financing transaction and receives at least $1,000,000 in net investment proceeds on or before March 31, 2015, and 2) the Note, along with any accrued interest, OID and applicable penalties, is paid in full within ten days of receipt of the initial funds, but not later than May 10, 2015; then,

a)  
Section 5.3 Dilutive Issuances shall be removed from the Warrant entirely and the Warrant shall have no price or share resets, ratchets or other adjustments as a result of any Dilutive Issuance, as defined in the Warrant, and

b)  
The Exercise Price shall be redefined to equal $0.075.


ALL OTHER TERMS AND CONDITIONS OF THE WARRANT REMAIN IN FULL FORCE AND EFFECT.

Please indicate acceptance and approval of this amendment dated January 21, 2015 by signing below:




/s/ Bassam Damaj, Ph D                                                                       /s/ David Clark
Bassam Damaj, Ph D                                                                                     David Clark
Innovus Pharmaceuticals, Inc.                                                                    Vista Capital Investments, LLC
Chief Executive Officer                                                                                 Principal