Common Stock |
6 Months Ended |
|---|---|
Jun. 30, 2022 | |
| Common Stock | |
| Note 6 - Common Stock |
Note 6 - Common Stock
As of June 30, 2022, the Company was authorized to issue 100 million shares of common stock, par value $0.001 per share, of which 53,846,973 and 53,772,261 shares were issued and outstanding as of June 30, 2022 and December 31, 2021, respectively.
Stock Option Exercises and RSU Settlements
On March 28, 2022, 15,000 RSUs vested and resulted in the issuance of 15,000 shares of common stock.
On April 19, 2022, 26,250 RSUs vested, resulting in the issuance of 21,712 shares of common stock and the withholding of 4,538 shares of common stock for taxes, which were returned as authorized shares to the 2015 Stock Incentive Plan.
On May 1, 2022, 50,000 RSUs vested, resulting in the issuance of 35,000 shares of common stock and the withholding of 15,000 shares of common stock for taxes, which were returned as authorized shares to the 2015 Stock Incentive Plan.
Equity Distribution Agreements
On September 24, 2021, the Company entered into an equity distribution agreement (the “2021 EDA”) with Cantor Fitzgerald & Co. Inc. (“Cantor”) and Oppenheimer & Co. Inc. (“Oppenheimer”), to sell shares of its common stock having an aggregate offering price of up to $25.0 million from time-to-time, through an “at the market offering program” pursuant to the Company’s effective “shelf” registration statement on Form S-3 (File No. 333-259783) and related prospectuses, through Cantor and Oppenheimer each acting as the Company’s agent and/or principal. The Company was not obligated to sell any shares under the 2021 EDA. During the three months ended June 30, 2022, no sales of shares of its common stock were made under the 2021 EDA. From inception through June 30, 2022, the Company raised aggregate net proceeds (net of brokers’ commissions and fees) of approximately $0.7 million under the 2021 EDA through the sale of 193,600 shares of its common stock. Effective May 7, 2022, the Company terminated its 2021 EDA and no further sales of the Company’s common stock will be made under the 2021 EDA.
On May 20, 2022, the Company entered into an equity distribution agreement (the “2022 EDA”) with Jefferies LLC (“Jefferies”) to sell shares of the Company’s common stock, having an aggregate offering price of up to $25 million from time to time, through an “at the market” offering program pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-259783) and related prospectuses, through Jefferies acting as the Company’s agent and/or principal. The Company is not obligated to sell any shares under the 2022 EDA. The 2022 EDA replaces the 2021 EDA. As of June 30 2022, no shares of common stock have been sold under the 2022 EDA. |