Black Scholes Warrant Value

Black Scholes Warrant Value. Shall mean the value of a warrant as determined by the Board of Directors as of the date of determination using the Black-Scholes valuation formula (based upon the advice of an independent investment bank of national standing selected by the Board of Directors), which value shall be determined by customary nationally recognized investment banking practices using such formula. For purposes of calculating such amount, (1) the term of the warrants will be the time from the date of determination to... the expiration date of such warrants, (2) the assumed volatility will be 35%, (3) the assumed risk-free rate will equal the yield on three month U.S. Treasury securities, and (4) the price for each share of Common Stock will be (x) the average closing price of a share of Common Stock for the twenty consecutive trading days immediately preceding, but not including, the date of determination as reported on the principal national securities exchange on which the shares of Common Stock are listed or admitted for trading or (y) if not listed or admitted for trading on any national securities exchange, the average of the closing bid and asked prices during such twenty trading day period in the over-the-counter market as reported by the Nasdaq National Market or any comparable system or (z) in all other cases, as determined in good faith by the Board of Directors of the Company, based on the advice of an independent investment bank of national standing selected by the Board of Directors. View More

Black Scholes Warrant Value. The value of a Warrant on an Organic Change Date as determined by the Company's Board of Directors immediately prior to such Organic Change (based upon the written advice of an independent investment bank selected by the Board of Directors) and shall be determined by customary investment banking practices using the Black-Scholes model.

Black Scholes Warrant Value. The value of a Warrant on an Organic Change Date as determined by the Company's Board of Directors immediately prior to such Organic Change (based upon the written advice of an independent investment bank selected by the Board of Directors) and shall be determined by customary investment banking practices using the Black-Scholes model. For purposes of calculating such amount, (1) the term of the Warrants will be the time from the Organic Change Date to the Expiration Date, (2) the assumed... volatility will be 50%, (3) the assumed risk-free rate will equal 3.50%, (4) the price for each share of Common Stock will be the FMV of the Common Stock for the Business Day immediately preceding the Organic Change Date, and (5) the exercise price shall be the Exercise Price, as adjusted. View More