Item 8.01 Other Events
On December 11, 2019, Zion Oil & Gas, Inc. (the "Company") filed with the
Securities and Exchange Commission (the "SEC") the prospectus supplement dated
as of December 11, 2019 and accompanying base prospectus dated November 27, 2019
(collectively, the "Prospectus") relating to the Company's Dividend Reinvestment
and Direct Stock Purchase Plan (the "Plan" or "DSPP"). The Prospectus forms a
part of the Company's Registration Statement on Form S-1 (File No. 333-235299),
as amended, which was declared effective by the SEC on December 11, 2019 (the
"Registration Statement").
DSPP Program
Under the Plan, the Company, pursuant to a Request for Waiver Program, executed
Waiver Term Sheets under a unit option program consisting of a Unit (shares of
stock and warrants) of its securities with a participant. The participant's Plan
account will be credited with the number of shares of the Company's Common Stock
and warrants that are acquired. Each warrant affords the participant the
opportunity to purchase one share of our Common Stock at a warrant exercise
price of $1.00. The warrant shall have the Company notation of "ZNWAM." The
warrants will not be registered for trading on the OTCQX or any other stock
market or trading market. The warrants will become exercisable on January 15,
2021 and continue to be exercisable through July 15, 2022 (18 months) at a per
share exercise price of $1.00.
Warrant Agent Agreement
Effective January 15, 2021, the Company executed a Warrant Agent Agreement with
AST as the Warrant Agent, Exhibit 4.7 below, for the warrant notated as ZNWAM.
The Company is filing the items included in Exhibits 4.6 and 4.7 to this Current
Report on Form 8-K, each of which relates to the above Registration Statement,
for the purpose of incorporating such items as exhibits to the Registration
Statement for the DSPP Program.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 4.6 - Form of Warrant included in the Unit Option Program (new warrant
ZNWAM), Annex B under the Prospectus Supplement
Exhibit 4.7 - Warrant Agent Agreement effective January 15, 2021 between Zion Oil
& Gas, Inc. and American Stock Transfer & Trust Company, LLC, as
Warrant Agent
1
© Edgar Online, source Glimpses