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Prior to that date, there was no public trading market for our common shares.
+Added: Performance Graph
+Added: This graph is not “soliciting material” or subject to Regulation 14A, deemed “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities under that section, and shall not be deemed incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.
+Added: The following graph compares the cumulative total return to stockholder return on our common stock relative to the cumulative total returns of the Nasdaq Composite Index and the Nasdaq Biotechnology Index.
+Added: An investment of $100 is assumed to have been made in our common stock and each index on December 11, 2020 (the first day of trading of our common stock) and its relative performance is tracked through December 31, 2021.
+Added: Pursuant to applicable SEC rules, all values assume reinvestment of the full amount of all dividends, however no dividends have been declared on our common stock to date.
+Added: The stockholder returns shown on the graph below are based on historical results and are not necessarily indicative of future performance, and we do not make or endorse any predictions as to future stockholder returns.
+Added: *$100.00 invested on December 11, 2020 in stock or index, including reinvestment of dividends.
+Added: AbCellera Biologics
+Added: Nasdaq Composite Index
+Added: Nasdaq Biotechnology Index
Holders of Common Shares
−Removed: As of March 23, 2021, the latest practicable date prior to the date of this Annual Report on Form 10-K, there were approximately 200 holders of record of our common shares.
+Added: As of February 15, 2022, the latest practicable date prior to the date of this Annual Report on Form 10-K, there were approximately 76 holders of record of our common shares.
Dividend Policy
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Any future determination to pay dividends will be at the discretion of our board of directors and will depend on our results of operations, financial condition, capital requirements, contractual restrictions and other factors deemed relevant by our board of directors.
−Removed: In addition, under the terms of our contribution agreements with Western Economic Diversification Canada, we are restricted from paying any dividends until we have repaid the contributions thereunder in full.
Recent Sales of Unregistered Equity Securities
−Removed: Set forth below is information regarding securities issued by us during the period covered by this report that were not registered under the Securities Act.
−Removed: Included is the consideration, if any, we received for such securities.
−Removed: In March 2020, we sold an aggregate of 6,017,784 convertible preferred shares at a purchase price of $12.4631 per share for an aggregate amount of approximately $75.0 million.
−Removed: In October 2020, we issued the convertible notes in the aggregate amount of $90.0 million.
−Removed: In connection with the completion of our IPO, the principal amount of the convertible notes and accrued interest thereon converted into an aggregate of 6,093,524 common shares.
−Removed: Prior to the filing of our registration statement on Form S-8 covering our equity incentive plans, we granted options to purchase an aggregate of 20,800,520 common shares with a weighted-average exercise price of $2.81 per share, to certain of our employees, consultants and directors in connection with services provided to us by such persons.
−Removed: Prior to the filing of our registration statement on Form S-8, we issued and sold an aggregate of 2,719,870 common shares with a weighted-average purchase price of $0.37 per share to employees, directors and consultants for aggregate proceeds to us of approximately $999,607 upon the exercise of stock options.
−Removed: None of the foregoing transactions involved any underwriters, underwriting discounts or commissions, or any public offering.
−Removed: The sales of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act (or Regulation D or Regulation S promulgated thereunder) or Rule 701 promulgated under Section 3(b) of the Securities Act as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701.
−Removed: The recipients of the securities in each of these transactions represented their intentions to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof and appropriate legends were placed upon the share certificates issued in these transactions.
−Removed: All of the foregoing securities are deemed restricted securities for purposes of the Securities Act.
Use of Proceeds from Initial Public Offering
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None of the underwriting discounts and commissions or offering expenses were incurred or paid, directly or indirectly, to any of our directors or officers or their associates or to persons owning 10% or more of our common shares or to any of our affiliates.
−Removed: As of December 31, 2020, we have used $8.1 million of the net proceeds from the IPO.
+Added: Cash used since the IPO is described elsewhere in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of our periodic reports filed with the SEC.
There has been no material change in our planned use of the net proceeds from the IPO as described in the final prospectus for our IPO.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.