Item 5. Market for Registrant’s Common Equity
Item 5.
Market for Registrant ’ s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock began trading on the NASDAQ Global Select Market on July 24, 2018 under the symbol “AQST”. Prior to that date there was no public market for our common stock.
Holders of Record
As of March 5, 2021, we had approximately 100 holders of record of our common stock. Certain shares are held in “street” name and accordingly, the number of beneficial owners of such shares is not
known or included in the foregoing number. This number of holders of record also does not include stockholders whose shares may be held in trust by other entities.
Dividend Policy
We have never declared or paid any cash dividends on our common stock. We currently intend to retain future earnings to fund the development and growth of our business. We do not expect to pay any
cash dividends in the foreseeable future. Any future determination to pay dividends will be made at the direction of our board of directors and will depend on then-existing conditions, including our financial conditions, operating results,
contractual restrictions, capital requirements, business prospects and other factors our board of directors may deem relevant.
Recent Sale of Unregistered Securities
On November 3, 2020, the Company repurchased $22.5 million of the 12.5% Notes and issued $4.0 million of new 12.5% Notes in lieu of a prepayment premium on the early repayment of the 12.5% Notes. In
connection therewith, the Company issued warrants for up to 143,000 shares of common stock, $0.001 par value per share.
The recipients of warrants acquired the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were affixed to the
warrants issued in these transactions. The warrants were, at issuance deemed restricted securities for purposes of the Securities Act. The sale of the warrants was deemed to be exempt from registration under the Securities Act in reliance upon
Section 4(a)(2) of the Securities Act (or Regulation D promulgated thereunder), or Rule 701 promulgated under Section 3(b) of the Securities Act.
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Item 6.
Selected Financial Data
Omitted pursuant to SEC Final Rule Release No. 33-10890, Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information , with respect to
Item 301, effective February 10, 2021.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.