Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: On December 28, 2020, the Company closed its initial public offering (“IPO”) and sold 1,270,589 units, consisting
−Removed: of (a) one share of the Company’s common stock (or, at the purchaser’s election, one share of Series B Convertible
−Removed: Preferred Stock), (b) one Series A warrant (the “Series A Warrants”) to purchase one share of the Company’s
−Removed: common stock at an exercise price equal to $8.50 per share, exercisable until the fifth anniversary of the issuance date, and
−Removed: (c) one Series B warrant (the “Series B Warrants”) to purchase one share of the Company’s common stock at an
−Removed: exercise price equal to $17.00 per share, exercisable until the fifth anniversary of the issuance date and subject to certain
−Removed: adjustment and cashless exercise provisions.
+Added: were no unregistered sales of equity securities during the period.
+Added: December 28, 2020, the Company closed its initial public offering (“IPO”) and sold 1,270,589 units, consisting of
+Added: (a) one share of the Company’s common stock (or, at the purchaser’s election, one share of Series B Convertible Preferred
+Added: Stock), (b) one Series A warrant (the “Series A Warrants”) to purchase one share of the Company’s common stock
+Added: at an exercise price equal to $8.50 per share, exercisable until the fifth anniversary of the issuance date, and (c) one Series
+Added: B warrant (the “Series B Warrants”) to purchase one share of the Company’s common stock at an exercise price
+Added: equal to $17.00 per share, exercisable until the fifth anniversary of the issuance date and subject to certain adjustment and
+Added: cashless exercise provisions.
The public offering price of the shares sold in the IPO was $17.00 per unit.
−Removed: In aggregate,
−Removed: the units issued in the offering generated $17,732,448 in net proceeds, which amount is net of $1,714,001 in underwriters’
−Removed: discount and commissions, and $2,153,564 in offering costs (including deferred equity offering cost of $1,863,612).
−Removed: Company also issued to the underwriter an option, exercisable one or more times in whole or in part, to purchase up to 190,588
−Removed: additional shares of common stock and/or Series A Warrants to purchase up to an aggregate of 190,588 shares of common stock and/or
−Removed: Series B Warrants to purchase up to an aggregate of 190,588 shares of common stock, in any combinations thereof, from us at the
−Removed: public offering price per security, less the underwriting discounts and commissions, for 45 days after the date of the IPO to
−Removed: cover over-allotments, if any (the “Over-Allotment Option”).
+Added: In aggregate, the units
+Added: issued in the offering generated $17,732,448 in net proceeds, which amount is net of $1,714,001 in underwriters’
+Added: and commissions, and $2,153,564 in offering costs (including deferred equity offering cost of $1,863,612).
+Added: The Company also issued
+Added: to the underwriter an option, exercisable one or more times in whole or in part, to purchase up to 190,588 additional shares of
+Added: common stock and/or Series A Warrants to purchase up to an aggregate of 190,588 shares of common stock and/or Series B Warrants
+Added: to purchase up to an aggregate of 190,588 shares of common stock, in any combinations thereof, from us at the public offering
+Added: price per security, less the underwriting discounts and commissions, for 45 days after the date of the IPO to cover over-allotments,
+Added: if any (the “Over-Allotment Option”).
the closing of the IPO, all shares of preferred stock then outstanding were automatically converted into 2,810,190 shares of common
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