Warrant
Category: Warrant
WARRANT
THIS WARRANT (THE “WARRANT”) IS ISSUED PURSUANT TO THE TERMS OF THE PROVISIONS OF A WARRANT PURCHASE AGREEMENT (THE “AGREEMENT”) BETWEEN SONICS, INC. (THE “COMPANY”) AND THE INITIAL WARRANT HOLDER. A COPY OF SUCH AGREEMENT IS ON FILE AT THE OFFICE OF THE CORPORATE SECRETARY OF THE COMPANY. THIS SECURITY WAS SOLD IN A PRIVATE PLACEMENT, WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY BE OFFERED OR SOLD ONLY IF REGISTERED UNDER THE SECURITIES ACT OR IF AN EXEMPTION FROM REGISTRATION IS AVAILABLE.
The term “Holder” shall initially refer to Partners for Growth, L.P., a Delaware limited partnership, which is the initial holder of this Warrant and shall further refer to any subsequent permitted holder of this Warrant from time to time.
The Company does hereby certify and agree that, for the agreed sum of $6,000 and for other good and valuable consideration, Holder, or its permitted successors and assigns, hereby is entitled to purchase from Sonics, Inc. (the “Company”) 411,496 shares of Series C Preferred Stock. All shares issuable hereunder shall be duly authorized, validly issued, fully paid and non-assessable. The shares of Company capital stock issuable hereunder and subject to the provisions of this Warrant are termed “Warrant Stock” or the “Warrant Shares”.
Section 1. Term, Price and Exercise of Warrant.
1.1 Term of Warrant. This Warrant shall be exercisable for a period of ten (10) years after the date hereof (hereinafter referred to as the “Expiration Date”).
1.2 Exercise Price. The price per share at which the Warrant Stock is issuable upon exercise shall be $0.7287, in the case of Series C Preferred Stock, subject to adjustment from time to time as set forth herein (the “Exercise Price”).
1.3 Exercise of Warrant.
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