Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
On
September 16, 2024, our registration statement on Form S-1 registering our initial public offering of common stock (the
“IPO”) was declared effective by the SEC. On September 17, 2024, the Company closed on the IPO of 1,550,000 shares of
common stock at a price of $4.00 per share. The Company received gross proceeds of $6.2 million, before deducting underwriting
discounts and commissions and offering expenses. Net proceeds for the offering were approximately $5.5 million.
Thus
far, the Company has used $4.2 million of the net IPO proceeds. There has been no material change in the use of proceeds, or the planned use of proceeds, from our IPO as described in our final prospectus filed with the SEC on September 17, 2024.
Item
3. Defaults Upon Senior Securities.
Not
applicable.
Item
4. Mine Safety Disclosure.
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.