SUBSEQUENT EVENTS
During the period from July 1, 2020 through July 31, 2020, the Company sold 242,367 shares of its common stock pursuant to the Amended Sale Agreement, at an average selling price of $10.27 per share, generating net proceeds of approximately $2,414,000 (see Note 3).
On July 21, 2020, the Company received notification that it received a U.S. Army Medical Research Acquisition Activity Award (the “USAMRAAA”) for its HemoDefend™ platform, a development-stage technology designed to be a practical, low cost, and effective way to safeguard the quality and safety of the blood supply. The USAMRAAA award, for up to $4,421,487, was granted to the Company in order to develop a highly efficient adsorber to remove anti-A and Anti-B antibodies from blood and plasma for transfusion. This Award is supported by the U.S. Department of Defense Peer Reviewed Medical Research Program (PRMRP)/Congressionally Directed Medical Research Program (CDMRP) under Contract No. W81XWH2010712.
On July 24, 2020, the Company completed the Offering pursuant to the terms of an Underwriting Agreement, dated as of July 21, 2020, by and among the Company and Cowen and Company, LLC and SVB Leerink LLC, as representatives of the several underwriters named therein. The Company issued and sold an aggregate of 6,052,631 shares of common stock in the Offering and received gross proceeds of approximately $57.5 million, before deducting the underwriting discounts and commissions and fees and expenses payable by the Company in connection with the offering.
