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Friday, January 22, 2021 9:04:54 AM
The new warrant will be exercisable into an aggregate of up to 8,016,033 shares of common stock at an exercise price of $1.20 per share and a term of exercise equal to five years. The purchase price of the additional warrant will be $1,002,004, or $0.125 per warrant share.
The gross proceeds to the company from the exercise of the warrants and the sale of the additional warrants are expected to be $7,671,343, prior to deducting placement agent fees and estimated offering expenses.
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