Warrant Coverage Clause Example from Business Contracts

Warrant Coverage. The Company shall issue to Wainwright or its designees at each Closing, warrants (the "Wainwright Warrants") to purchase that number of ordinary shares, par value NIS 0.25 per share ("Ordinary Shares"), of the Company equal to 6.0% of the aggregate number of Ordinary Shares placed in each Offering (and if an Offering includes a "greenshoe" or "additional investment" option component, such number of Ordinary Shares underlying such additional option component, with the Wainwright Warrants issuable... upon the exercise of such option). If the Securities included in an Offering are convertible, the Wainwright Warrants shall be determined by dividing the gross proceeds raised in such Offering by the Offering Price (as defined hereunder). The Wainwright Warrants shall have the same terms as the warrants issued to investors in the applicable Offering, except that such Wainwright Warrants shall have an exercise price equal to 125% of the offering price per share (or unit, if applicable) in the applicable Offering and if such offering price is not available, the market price of the Ordinary Shares on the date an Offering is commenced (such price, the "Offering Price"). If no warrants are issued to investors in an Offering, the Wainwright Warrants shall be in a customary form reasonably acceptable to Wainwright, have a term of five (5) years and an exercise price equal to 125% of the Offering Price. View More