EX-4.2 3 ea156398ex4-2_ucommuneinter.htm AMENDMENT TO WARRANTS

Exhibit 4.2

 

UCOMMUNE INTERNATIONAL LTD

Floor 8, Tower D

No.2 Guang Hua Road

Chaoyang District, Beijing

People’s Republic of China, 100026

 

March 1, 2022

 

JAK Opportunities LLC

17 State Street, 2100

New York, New York 10004

Re: Warrants

 

Dear Sirs and Madams:

 

Reference is made to the Series A Warrant, Series B Warrant and Series C Warrant, each dated January 26, 2022 (collectively, the “Warrants”), between Ucommune International Ltd and JAK Opportunities LLC (the “Holder”), as the holder named therein. Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Warrants.

 

Upon execution of this letter agreement, each of the Warrants shall be amended to add the following Section 5(o):

 

“o) Floor for Exercise Price of the Warrant. Notwithstanding anything to the contrary in the Transaction Documents, the Exercise Price of the Warrant shall in no event be lower than $0.30 (the “Floor Price”). The Floor Price shall be proportionately decreased upon a stock split or share subdivision of Ordinary Shares, and shall be proportionately increased in the case of a reverse stock split or share combination of Ordinary Shares. The Company agrees that while the Warrant remains outstanding, it will not issue Ordinary Shares or Ordinary Share Equivalents at a price per share or with a conversion or exercise price per share, as applicable, that is below the Floor Price without the prior written consent of the Holder.”

 

Each of the Warrants and this letter agreement shall be read together and shall have the same effect as if each such Warrant and this letter agreement were contained in one document. Except as expressly modified by this letter agreement, the terms and obligations of the Warrants and the Transaction Documents remain unchanged and the Warrants and Transaction Documents shall continue in full force and effect.

 

This letter agreement shall be governed by, construed and enforced in accordance with, the laws of the State of New York, without regard to the conflict of laws principles thereof.

 

 

 

 

If you are in agreement with the foregoing, please have this letter agreement executed by your authorized representative and return a copy to the undersigned.

 

  Very Truly Yours,
     
  UCOMMUNE INTERNATIONAL LTD
     
  By: /s/ Xin Guan                            
  Name:  Xin Guan
  Title: CEO

 

Confirmed and Agreed to:  
     
JAK Opportunities LLC  
     
By: /s/ Antonio Ruiz-Gimenez  
Name:  Antonio Ruiz-Gimenez  
Title: Managing Partner