MARKET FOR REGISTRANT ’ S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
+Added: In September 2024, we effected a one-for-eight reverse stock split (the “Reverse Stock Split”) of our issued Class A common stock, par value $0.0001 per share (“common stock”).
+Added: As a result, every eight shares of our issued common stock were combined into one share of our common stock.
+Added: No fractional shares of our common stock were issued as a result of the Reverse Stock Split.
+Added: Each stockholder who would otherwise have been entitled to receive a fractional share as a result of the Reverse Stock Split received a cash payment equal to the product obtained by multiplying the number of shares of our common stock held by such stockholder before the Reverse Stock Split that would otherwise have been exchanged for such fractional share interest by the closing price per share of our common stock as reported on the New York Stock Exchange (“NYSE”) on September 6, 2024, the date of the effective time of the Reverse Stock Split.
+Added: As a result of the Reverse Stock Split, proportionate adjustments were made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding warrants to purchase shares of our common stock.
+Added: This Item 5 gives retroactive effect to the Reverse Stock Split for all periods presented.
+Added: The shares of common stock retained a par value of $0.0001 per share.
Market Information
1 unchanged sentence
Holders of Common Stock
−Removed: As of March 15, 2024, there were approximately 693 holders of record of our Class A common stock.
+Added: As of March 17, 2025, there were approximately 300 holders of record of our Class A common stock, excluding individual brokerage accounts.
Because many of the shares of Class A common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of beneficial owners represented by these record holders.
6 unchanged sentences
Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities
−Removed: On December 15, 2022, we entered into an "at the market" (ATM) sales agreement with Jefferies LLC as our sales agent, under which we may offer and sell from time to time up to $75 million of shares of our Class A common stock in negotiated transactions or transactions that are deemed to be an ATM offering.
−Removed: During the year ended December 31, 2023, we raised gross proceeds of $5.0 million through the sale of 3,462,155 shares in our ATM offering.
+Added: On December 15, 2022, we entered into an "at the market" (ATM) sales agreement with Jefferies LLC as our sales agent, under which we may offer and sell from time to time up to $75 million of shares of our common stock in negotiated transactions or transactions that are deemed to be an ATM offering.
+Added: During the year ended December 31, 2024, we raised gross proceeds of $4.8 million through the sale of approximately 500 thousand shares in our ATM offering program.
We sold such shares at an average purchase price per share of $9.68.
1 unchanged sentence
We currently intend to use the net proceeds from the sale of the shares for working capital and other general corporate purposes.
+Added: We are subject to restrictions on the payment of cash dividends in our loan and debt agreements.
+Added: For additional information on our indebtedness and related restrictions therein, see Note 14—“Debt and Other Financing” of the
+Added: notes to the consolidated financial statements and “Liquidity and Capital Resources” under Part II—Item 7— “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained within this Annual Report on Form 10-K.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
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.