Warrant Coverage Clause Example from Business Contracts

Warrant Coverage. The Company shall issue to Rodman, or its designees at each Closing, unregistered warrants (the "Rodman Warrants") to purchase that number of shares of common stock of the Company equal to 6% of the aggregate number of shares of Common Stock placed by Rodman in each Offering (if the Offering includes a "greenshoe" or "additional investment" option component, such shares of Common Stock underlying such options shall not be included). The Rodman Warrants shall have the same terms as the warrants i...ssued to investors in the Offering, except that the Rodman Warrants shall have an exercise price equal to 125% of the per share Offering price. The Rodman Warrants shall not have any provisions requiring registration of the shares underlying the Rodman Warrants. If no warrants are issued to investors in an Offering, the Rodman Warrants shall be in a customary form reasonably acceptable to Rodman and the Company, have a term of 5 years and an exercise price equal to 125% of the per share Offering price. View More