Warrants (Tables)

6 Months Ended

Jun. 30, 2017

Warrants to Purchase Ordinary Shares that Could Vest Under Outstanding Warrant Programs with Customers, based on Achieving Certain Purchase Levels

The table below presents by year, the warrants to purchase ordinary shares that could vest under outstanding Warrant programs with customers, based on achieving certain purchase levels (in thousands).


	Warrants Issuable				Exercise Price per Maximum Share Issuable
	Minimum		Maximum		$22.19		$28.54		TBD¹
Year
2017		2,000		7,500		5,000		2,500		—
2018		1,000		2,500		—		—		2,500

(1)	The exercise price for the 2018 warrants will be determined based upon the lower of 1) the volume-weighted price for the 10-day trading period preceding January 1, 2018 (“the January Price”) or 2) the average of $28.54 and the January Price.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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