$GNUS more shares coming
The number of shares offered for resale consists of 59,523,812 shares of our common stock that were previously issued upon the conversion of our Senior Secured Convertible Notes (each a “Note” and collectively, the “Secured Convertible Notes”). The Secured Convertible Notes were issued by the Company to the selling stockholders, each of whom is an accredited investor, in a private placement transaction that closed on March 17, 2020 pursuant to or in connection with a securities purchase agreement, dated March 11, 2020, by and among the Company and the purchasers named therein (the “March 2020 SPA”).
