5 million in aggregate stated value of Series D Convertible Participating Preferred Stock initially convertible into 5,319,149 shares of Common Stock, and Warrants to purchase 2,456,272 shares of Common Stock at a nominal exercise price
The merger consideration constitutes approximately 73% of the outstanding stock of CDK, post acquisition and financing (and approximately 66% after giving effect to the issuance of shares upon the exercise of 2,299,998 options with a nominal exercise price
issued to new Arkados employees).
9) An option to purchase 11,145,000 shares of common stock of Windswept at a nominal exercise price
was issued to Laurus.
The lender was paid a 3% set up fee and was issued 37,000,000 share purchase warrants with a five year term and a nominal exercise price
The warrants, which have a nominal exercise price
, become exercisable in four equal annual installments.
Approximately 40,000,000 warrants issued in connection with the Series D and previous financings were also exercised at a nominal exercise price
25 per share and a 30 month warrant to be issued 14,650,000 ordinary shares of Healthcare with a nominal exercise price
per share which may only be exercised following the completion of the tender offer described below.
The investors will also be issued for each share of Series B Preferred purchased, 6,000 Series A Warrants exercisable at a nominal exercise price
, 3,000 Series B-1 Warrants exercisable at $2.
1 million shares of common stock of the Company at a nominal exercise price
The term sheet provides that Paul Capital would relinquish 70% of its revenue interest in exchange for $7 million in Series C Secured Participating Preferred Stock and 500,000 warrants exercisable at a nominal exercise price
in return for a new issue of preferred stock and warrants to acquire 40% of the fully-diluted common stock of the Company at a nominal exercise price
In connection with the new loan facility, the Company granted warrants to purchase up to 17,382,053 shares of common stock at a nominal exercise price