What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2023-03-29 compared with 2022-03-30 · 21 added, 39 removed, 5 unchanged (92% of the section changed)

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

common stock trades under the symbol “AVTE” on The Nasdaq Global Market and has been publicly traded since June 30, 2021.

Our common stock trades under the symbol “AVTE” on The Nasdaq Global Market and has been publicly traded since June 30, 2021.

Prior to this time, there was no public market for our common stock.

of Our Common Stock

of March 28, 2022, there were approximately nine holders of record of shares of our common stock.

This number does not include

stockholders for whom shares are held in “nominee” or “street” name.

have never declared or paid any cash dividends on our capital stock.

We currently intend to retain all available funds and any future

earnings to fund the growth and development of our business.

We do not intend to pay cash dividends to our stockholders in the foreseeable

Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our

financial condition, operating results, capital requirements, general business conditions, and other factors that our board of directors

may deem relevant.

Holders of Our Common Stock

As of March 27, 2023, there were approximately 13 holders of record of shares of our common stock.

This number does not include stockholders for whom shares are held in “nominee” or “street” name.

Dividend Policy

We have never declared or paid any cash dividends on our capital stock.

We currently intend to retain all available funds and any future earnings to fund the growth and development of our business.

We do not intend to pay cash dividends to our stockholders in the foreseeable future.

Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, operating results, capital requirements, general business conditions, and other factors that our board of directors may deem relevant.

Investors should not purchase our common stock with the expectation of receiving cash dividends

Authorized for Issuance Under Equity Compensation Plans

about our equity compensation plans will be included in our Definitive Proxy Statement to be filed with the SEC with respect

to our 2022 Annual Meeting of Stockholders and is incorporated herein by reference.

Sales of Unregistered Equity Securities

the period between January 1, 2021 and June 29, 2021, we issued to employees and directors, options to purchase an aggregate of 2,541,849

shares of our common stock at a weighted-average exercise price of $6.04 per share.

We deemed these issuances to be exempt from registration

under the Securities Act, either in reliance on Rule 701 of the Securities Act as sales and offers under compensatory benefit plans and

contracts relating to compensation in compliance with Rule 701, or in reliance on Section 4(a)(2), as transaction by an issuer not involving

a public offering.

On June 30, 2021, we filed a registration statement on Form S-8 under the Securities Act to register all of the shares

of our common stock subject to outstanding options and all shares of our common stock otherwise issuable pursuant to our equity compensation

of Proceeds from our Public Offering of Common Stock

July 2, 2021, we closed our IPO in which we issued and sold 9,984,463 shares of common stock, including the exercise in full by the underwriters

of their option to purchase up to 1,302,231 additional shares of common stock, at a public offering price of $14.00 per share.

the shares of common stock issued and sold in our IPO were registered under the Securities Act pursuant to a registration statement on

Form S-1 (File No.

Securities Authorized for Issuance Under Equity Compensation Plans

Information about our equity compensation plans will be included in our Definitive Proxy Statement to be filed with the SEC with respect to our 2023 Annual Meeting of Stockholders and is incorporated herein by reference.

Recent Sales of Unregistered Equity Securities

Use of Proceeds from our Public Offering of Common Stock

On July 2, 2021, we closed our IPO in which we issued and sold 9,984,463 shares of common stock, including the exercise in full by the underwriters of their option to purchase up to 1,302,321 additional shares of common stock, at a public offering price of $14.00 per share.

All of the shares of common stock issued and sold in our IPO were registered under the Securities Act pursuant to a registration statement on Form S-1 (File No.

333-256949), which was declared effective by the SEC on June 29, 2021.

Jefferies LLC, Cowen and Company, LLC and Evercore

Jefferies LLC, Cowen and Company, LLC and Evercore Group L.L.C.

acted as joint book-running managers for the IPO.

aggregate net proceeds to us from the IPO, inclusive of the over-allotment exercise, was approximately $126.9 million, after deducting

underwriting discounts and commissions and other offering expenses of approximately $12.9 million.

No offering expenses were paid directly

or indirectly to any of our directors or officers (or their associates) or persons owning 10% or more of any class of our equity securities

or to any other affiliates.

has been no material change in the planned use of IPO proceeds from that described in our final prospectus filed with the SEC pursuant

to Rule 424(b)(4) under the Securities Act on June 30, 2021.

of Equity Securities by the Issuer and Affiliated Purchasers

did not purchase any of our registered equity securities during the period covered by this Annual Report on Form 10-K.

The aggregate net proceeds to us from the IPO, inclusive of the over-allotment exercise, was approximately $126.9 million, after deducting underwriting discounts and commissions and other offering expenses of approximately $12.9 million.

No offering expenses were paid directly or indirectly to any of our directors or officers (or their associates) or persons owning 10% or more of any class of our equity securities or to any other affiliates.

There has been no material change in the planned use of IPO proceeds from that described in our final prospectus filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act on June 30, 2021.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

We did not purchase any of our registered equity securities during the period covered by this Annual Report on Form 10-K.

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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity