Lincoln Park – SPA – Under the Purchase Agreement, the Company may, from time to time, require Lincoln Park to purchase up to 2,000,000 shares of common stock for resale. The purchase price for each tranche will be based on the prevailing market price of the common stock as determined pursuant to the pricing provisions of the agreement. Each draw-down is subject to a “Beneficial Ownership Cap,” which restricts Lincoln Park from owning more than the specified percentage of the Company’s outstanding shares at any time. The agreement also limits the size of each purchase notice so the shares are issued in tranches rather than all at once.
S-1
Lincoln Park - SPA - The shares that we may sell to Lincoln Park under the Purchase Agreement are priced according to a formula tied to the prevailing market price of our common stock, with the purchase price expressed as a set percentage of the market/VWAP on the applicable purchase date. On each purchase notice we can require Lincoln Park to buy up to a specified number of shares, but the amount is limited by daily volume thresholds as well as the overall Exchange Cap imposed by Nasdaq rules. Lincoln Park is further restricted by a Beneficial Ownership Cap, meaning it cannot acquire shares that would put its ownership above the agreed-upon limit (generally 4.99%–9.99% of our outstanding common stock). These caps collectively determine both the maximum shares that can be issued on any given day and the total shares that can be sold over the life of the facility.
S-1/A
INITIAL REGISTRATION FOR OFFERING EFFECTIVE
S-1
INITIAL REGISTRATION FOR OFFERING EFFECTIVE
S-3/A
SHELF EFFECTIVE
S-3
SHELF | Offering amount: $100,000,000.00 | Float: 5,241,370 | Amount sold to date: $0.00 EFFECTIVE
Proxies
TYPE
HEADLINE
FILED AT
DEFA14A
Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material
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