9 unchanged sentences
Ri sk Factors
−Removed: There have been no material changes to the risk factors described under Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 2, 2022, except for those noted below:
+Added: There have been no material changes to the risk factors described under Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC, except for those noted below:
The United States has recently experienced historically high levels of inflation.
2 unchanged sentences
To the extent inflation results in rising interest rates and has other adverse effects on the market, it may adversely affect our business, financial condition or results of operations.
+Added: We must comply with certain affirmative, negative, and financial covenants under our Revolving Credit Facility with MidCap.
+Added: These covenants could adversely affect our ability to operate our business, our liquidity or our results of operations, and our inability to comply with any of these covenants could result in a default under the Revolving Credit Facility.
+Added: If a default occurs, MidCap could charge an increase to the applicable interest rate, refuse to make further extensions of credit to us, and require all amounts borrowed under the Revolving Credit Facility, together with accrued interest and other fees, to be immediately due and payable.
+Added: If our indebtedness under the Revolving Credit Facility were to be accelerated or if MidCap elects to charge us additional interest, we may not have sufficient cash available to repay the amounts due, and we may be forced to seek an amendment to the terms of the Revolving Credit Facility or obtain alternative financing, which may not be available to us on acceptable terms, if at all.
+Added: In addition, if we are unable to repay outstanding borrowings when due or upon an event of default, MidCap would also have the right to proceed against the collateral, including substantially all of our assets, granted to MidCap to secure the indebtedness under the Revolving Credit Facility.
+Added: If MidCap proceeds against the collateral, such assets would no longer be available for use in our business, which would have a significant adverse effect our business, financial condition and results of operations.
Unregiste red Sales of Equity Securities and Use of Proceeds
−Removed: During the three months ended June 30, 2022, the Company issued unregistered equity securities as described below:
−Removed: On each of April 21, 2022 and May 18, 2022, the Company issued 10,000 restricted shares of the Company’s common stock with a grant date fair values of $12.78 and $8.25, respectively, based on the market price of common stock on grant dates, to an independent sales agent for distribution and related services rendered to the Company.
−Removed: On May 11, 2022, the Company issued 25,000 restricted shares of the Company's common stock with a grant date fair value of $7.43 based on the market price of common stock on grant date, to an independent sales agent for distribution and related services rendered to the Company.
+Added: During the three months ended September 30, 2022, the Company issued unregistered equity securities as described below:
+Added: On September 12, 2022, September 13, 2022, September 14, 2022, and September 30, 2022 the Company issued 2,500, 15,000, 2,500, and 20,000 restricted shares of the Company’s common stock with a grant date fair values of $9.19, $8.86, $8.90, and $8.74, respectively, based on the market price of common stock on grant dates, to an independent sales agent for distribution and related services rendered to the Company.
The issuances of the foregoing securities were made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, as there was no general solicitation and the transactions did not involve a public offering.
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