Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
(a) Recent Sales of Unregistered Securities
In accordance with the terms of a settlement agreement reached in connection with the Altor BioScience, LLC litigation (see Note 7 , Commitments and Contingencies—Litigation ), on July 9, 2022 the company issued 2,229,296 shares of its common stock with an aggregate market value of $10.7 million, based on the closing price of its common stock on the NASDAQ as of July 8, 2022, to the appraisal petitioners pursuant to the terms of the court-approved settlement agreement. The company received no proceeds from the transaction. These shares of common stock are exempt from registration under Rule 506(b) of the Securities Act on the basis that (a) ImmunityBio, Inc. is current with its filings with the SEC under the Exchange Act, (b) each purchaser is an accredited investor, and (c) no general solicitation or advertising was used to market the shares.
(b) Issuer Purchases of Equity Securities
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4. MINE SAFETY DISCLOSURES.
Not applicable.
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