Item 5. Market for Registrant’s Common Equity
Item 5.
Market For Registrant’s
Common Equity, Related Stockholder Matters And Issuer Purchases Of Equity Securities
Our
common stock is quoted on the NYSE American under the symbol “MTNB”.
On
March 3, 2023, the closing sale price of our common stock, as reported by the NYSE MKT, was $0.50 per share and we had approximately
104 record holders of our common stock. The number of record holders was determined from the records of our transfer agent and does not
include beneficial owners of common stock whose shares are held in the names of various security brokers, dealers, and registered clearing
agencies. VStock Transfer, LLC is the transfer agent and registrar for our common stock.
Dividends
We
have never paid or declared any cash dividends on our common stock, and we do not anticipate paying any cash dividends on our common
stock in the foreseeable future. We intend to retain all available funds and any future earnings to fund the development and expansion
of our business. Any future determination to pay dividends will be at the discretion of our board of directors and will depend upon a
number of factors, including our results of operations, financial condition, future prospects, contractual restrictions, restrictions
imposed by applicable law and other factors our board of directors deems relevant.
Recent
Sales of Unregistered Securities
On
February 8, 2022, 400,000 shares of our common stock were issued to Rutgers, The State University of New Jersey (“Rutgers”),
as partial consideration of the Second Amended and Restated Exclusive License Agreement, dated February 8, 2022, between us and Rutgers.
Such shares were issued to Rutgers pursuant to an exemption from the registration requirements of the Securities Act by virtue of Section
4(a)(2) of the Securities Act because we believe: (i) the securities were offered and sold only to an accredited investor; and (ii) Rutgers
had knowledge and experience in financial and business matters which allowed it to evaluate the merits and risk of the receipt of these
securities, and that it was knowledgeable about our operations and financial condition. Further, there was no general solicitation or
general advertising related to this issuance of such shares.
On
September 3, 2021, 1,500,000 shares of our common stock were issued to the holders of Aquarius Biotechnologies Inc. (“Aquarius”)
as partial consideration of the Amendment, dated September 3, 2021, to the Agreement and Plan of Merger by and among the Company, Saffron
Merger Sub, Inc., Aquarius and J Carl Craft, as holder representative, dated January 19, 2015 (the “Aquarius Merger Agreement”).
Such shares were issued in place of certain milestone payments previously included under the Aquarius Merger Agreement upon the achievement
of specified development milestones. Such shares were issued to the holders of Aquarius, as defined in the Aquarius Merger Agreement,
pursuant to an exemption from the registration requirements of the Securities Act by virtue of Section 4(a)(2) of the Securities Act
because we believe: (i) the securities were offered and sold only to accredited investors; and (ii) the holders had knowledge and experience
in financial and business matters which allowed each of them to evaluate the merits and risk of the receipt of these securities, and
that each holder was knowledgeable about our operations and financial condition. Further, there was no general solicitation or general
advertising related to this issuance of such shares.
64
Repurchases
of Equity Securities by the Issuer and Affiliated Purchasers
We
did not purchase any of our registered securities during the period covered by this Annual Report.
Item 6.
[Reserved]