| Warrants |
In connection with the Wainwright
underwritten public offering, the Company issued to Wainwright’s designees warrants (the “Underwriter Warrants”)
to purchase up to 654,334 shares of Common Stock (representing 7% of the aggregate number of Firm Shares), at an exercise price
of $0.9375 per share (representing 125% of the public offering price). The Underwriter Warrants are exercisable immediately and
expire three years from the date of issuance.
There was no warrant exercise
activity for the three months ended March 31, 2019. Warrants outstanding for the period ended March 31, 2019 are as follows:
| Description |
|
Classification |
|
|
Exercise Price |
|
|
Expiration Date |
|
Warrants Issued |
|
|
Warrants Exercised |
|
|
Warrants Cancelled/ Expired |
|
|
Balance
December 31,2018
|
|
|
Balance
March 31,2019
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Private Placement Warrants, issued January 25, 2017 |
|
Equity |
|
|
$ |
4.69 |
|
|
June 2022 |
|
|
855,000 |
|
|
|
- |
|
|
|
- |
|
|
|
855,000 |
|
|
|
855,000 |
|
| RedPath Warrants,issued March 22, 2017 |
|
Equity |
|
|
$ |
4.69 |
|
|
September 2022 |
|
|
100,000 |
|
|
|
- |
|
|
|
- |
|
|
|
100,000 |
|
|
|
100,000 |
|
| Underwriters Warrants,issued June 21, 2017 |
|
Liability |
|
|
$ |
1.32 |
|
|
December 2022 |
|
|
575,000 |
|
|
|
- |
|
|
|
(40,000 |
) |
|
|
535,000 |
|
|
|
535,000 |
|
| Base & Overallotment Warrants,issued June 21, 2017 |
|
Equity |
|
|
$ |
1.25 |
|
|
June 2022 |
|
|
14,375,000 |
|
|
|
(5,672,852 |
) |
|
|
- |
|
|
|
8,702,148 |
|
|
|
8,702,148 |
|
| Vendor Warrants,issued August 6, 2017 |
|
Equity |
|
|
$ |
1.25 |
|
|
August 2020 |
|
|
150,000 |
|
|
|
- |
|
|
|
- |
|
|
|
150,000 |
|
|
|
150,000 |
|
| Warrants issued October 12, 2017 |
|
Equity |
|
|
$ |
1.80 |
|
|
April 2022 |
|
|
3,200,000 |
|
|
|
- |
|
|
|
- |
|
|
|
3,200,000 |
|
|
|
3,200,000 |
|
| Underwriters Warrants,issued January 25, 2019 |
|
Equity |
|
|
$ |
0.9375 |
|
|
January 2022 |
|
|
654,334 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
654,334 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
19,909,334 |
|
|
|
(5,672,852 |
) |
|
|
(40,000 |
) |
|
|
13,542,148 |
|
|
|
14,196,482 |
|
|