Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equi ty Securities and Use of Proceeds .
Unregistered Sales of Equity Securities
None.
Use of Proceeds from the Sale of Registered Securities
Pursuant to a registration statement on Form S-1 (File No. 333-231081), as amended, which was declared effective by the SEC on May 22, 2019, we registered common stock to be sold in our IPO, in which we sold and issued 5,750,000 shares of common stock at a price to the public of $10.00 per share, which includes the full exercise of the underwriters’ over-allotment option to purchase an additional 750,000 shares of common stock. We received aggregate gross proceeds of $57.5 million, or aggregate net proceeds of $50.2 million, after underwriting discounts, commissions and other offering costs. As of September 30, 2020, we have used all of the net proceeds from our IPO.
Issuer Purchases of Equity Securities
The following table summarizes repurchases of our common stock during the third quarter of fiscal 2020:
Period
Total Number
of Shares
Purchased
Average Price
Paid Per Share
Total Number
of Shares
Purchased as
Part of Publicly
Announced
Plans or
Programs
Maximum
Number
of Shares
that May
Yet be
Repurchased
Under the Plans
or Programs
July 1, 2020 to July 31, 2020
—
$
—
—
$
—
August 1, 2020 to August 31, 2020
5,349
1.23
—
—
September 1, 2020 to September 30, 2020
—
—
—
—
Total
5,349
$
1.23
—
$
—
All of the shares repurchased, as reflected in the table above, were repurchases of unvested shares of our common stock that had been issued upon early exercise of stock options. Upon termination of employment of a person holding unvested shares, we are entitled to repurchase the unvested shares.
Item 3. Defaults Upon Senior Securities.
Not applicable.
Item 4. Mine Safety Disclosures.
Not applicable.
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.