A warrant holder may exercise the warrant if the current share price is higher than the exercise price of the warrant. The holder of a war The warrant may be based on a report chosen by the company. It may require five warrants for one action, or 10 or 20. If you are selling or exercising an option, make sure you know all the provisions of the warrant in order to finish with the number of shares (and exercise the number of warrants) you want. “VectoIQ Warrants” refers to warrants for the purchase of shares of VectoIQ`s common share pursuant to the VectoIQ guarantee agreement, with each share warrant in VectoIQ`s common share being exerciseable at an exercise price of $11.50. On March 2, 2020, VectoIQ Acquisition Corp., a Delaware company (“VectoIQ”), VCTIQ Merger Sub Corp., a Delaware company (“Merger Sub Corp.”), and Nikola Corporation, a Delaware company (the “company”), entered into a business combination agreement after IQtoVec and the company. The terms of the business merger agreement, which contains customary insurance and guarantees, agreements, terms of entry, termination fee provisions and other terms of the merger (defined below) and other proposed transactions, are summarized below. The wholesale terms that are used in this report on Form 8-K, but are not defined differently, have the meaning given to them in the business combination agreement. The guarantees and options are similar in that the two contractual financial instruments grant the holder specific rights to purchase securities. Both are discreet and have run dates. The word “guarantee” simply means to endow the right,” which is only slightly different from the meaning of the option. In accordance with subscription contracts, The Company has granted subscribers certain registration rights, including the company`s agreement, that within 45 calendar days following the closing (“period of filing”), the company will file with the SEC a registration statement for the registration of the resale of the PIPE shares (the “return of registration of the resale”) and will make economically reasonable efforts to have the declaration of registration of the actual resale declared as soon as possible after the filing.
In certain circumstances described in the reference contracts, including if the resale registration statement was not filed with the SEC before the filing deadline, additional payments from the Company may be assessed for PIPE shares The Company`s additional payments on applicable recorder securities amount to 0.5% of the total purchase price paid for those registered securities per month. , subject to certain conditions and restrictions (including a ceiling of 5.0% of the total purchase price).