3 unchanged sentences
Prior to the completion of the Mergers, PharmAthene’s common stock traded on the NYSE American (formerly the NYSE MKT) under the symbol “PIP.”
−Removed: As of March 26, 2020, we had 153 record holders of our common stock.
+Added: As of February 23, 2021, we had 172 record holders of our common stock.
The number of record holders is based on the actual number of holders registered on the books of our transfer agent and does not reflect holders of shares in “street name” or persons, partnerships, associations, corporations or other entities identified in security position listings maintained by depository trust companies.
−Removed: Other than the special dividend immediately prior to the Mergers and our 1-for-30 reverse stock split effected in September 2018, we have never declared or paid any cash dividends on our capital stock.
+Added: Other than the special dividend immediately prior to the Mergers, we have never declared or paid any cash dividends on our capital stock.
We intend to retain future earnings, if any, to finance the operation and expansion of our business and do not expect to pay any cash dividends in the foreseeable future.
1 unchanged sentence
Securities Authorized for Issuance under Equity Compensation Plans
−Removed: Information about our equity compensation plans is contained in Part II, Item 12 of this Annual Report under the heading Equity Compensation Plans and is incorporated herein by reference.
+Added: Information about our equity compensation plans is contained in Part III, Item 12 of this Annual Report under the heading Equity Compensation Plans and is incorporated herein by reference.
Recent Sales of Unregistered Securities
−Removed: We entered into a definitive agreement to acquire all of the equity interests of Spitfire Pharma, Inc.
−Removed: (“Spitfire ”) on July 8, 2019.
−Removed: Spitfire was a privately held, preclinical pharmaceutical company developing a novel dual GLP-1/glucagon receptor agonist for the treatment of non-alcoholic steatohepatitis.
−Removed: The transaction closed on July 12, 2019.
−Removed: We issued 1,887,250 unregistered shares of its common stock (the “shares”) as upfront consideration to certain former securityholders of Spitfire (collectively, the “Spitfire Equityholders”), representing an amount equal to $5,000,000 less working capital and transaction expense adjustment amounts as defined in the agreement (the “Closing Consideration”).
−Removed: The number of shares issued as payment of the Closing Consideration was determined based on the average of the closing prices of our common stock as reported on the Nasdaq Global Market for the twenty (20) consecutive trading days prior to and including July 8, 2019, the date on which the parties entered into the Agreement and Plan of Merger and Reorganization (the “Merger Agreement”).
−Removed: The Spitfire Equityholders agreed to a lock-up on the upfront consideration pursuant to which 33.3% of the shares will be released at 6 months;
−Removed: 33.3% will be released at 12 months;
−Removed: and 33.3% will be released at 18 months.
+Added: Not applicable.
Use of Proceeds
5 unchanged sentences
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.