Item 2. Unregistered Sales of Equity Securities
ITEM 2.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Recent
Sales of Unregistered Equity Securities
None
Use
of Proceeds from Initial Public Offering
On June 15, 2021, the Company
issued and sold 2,500,000 shares of common stock and full exercise of the underwriter’s over-allotment option to purchase 375,000
additional shares of common stock in the IPO at a public offering price of $5.00 per share, resulting in net proceeds of $12.9 million
after deducting underwriting discounts and commissions and offering expenses paid by the Company.
There
has been no material change in our planned use of the net proceeds from our IPO as described in our final prospectus filed pursuant to
Rule 424(b)(4) under the Securities Act with the SEC.
ITEM 3.
DEFAULTS UPON SENIOR SECURITIES
None
ITEM 4.
MINE SAFETY DISCLOSURES
Not applicable
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