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.
Market Information
Prior to the closing of our Business Combination, Supernova’s units, Class A ordinary shares and warrants were listed on the New York Stock Exchange under the symbols “SNII.U,” “SNII” and “SNII WS,” respectively. On March 2, 2022, our common stock and public warrants began trading on The Nasdaq Capital Market under the symbols “RGTI” and “RGTIW,” respectively. We no longer have any outstanding units.
Stockholders
As of March 22, 2023, there were approximately 209 holders of record of our common stock and one holder of record of our public warrants, including Cede & Co., a nominee for The Depository Trust Company (DTC), which holds shares of our common stock and public warrants on behalf of an indeterminate number of beneficial owners. The actual number of stockholders is greater than this number of record holders and includes stockholders who are beneficial owners but whose shares are held in street name by brokers and other nominees.
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 support our operations and finance the growth and development of our business. We do not intend to pay cash dividends on our common stock for the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors and will depend upon, among other factors, our results of operations, financial condition, capital requirements, contractual restrictions, business prospects and other factors our board of directors may deem relevant.
Recent Sales of Unregistered Sales of Securities
None.
Use of Proceeds from the Initial Public Offering
On March 4, 2021, Supernova consummated its initial public offering of 34,500,000 units at an offering price of $10.00 per unit, generating gross proceeds of $345.0 million, and a private placement with Supernova Sponsor, of 4,450,000 private placement warrants at an offering price of $2.00 per warrant, generating gross proceeds of $8.9 million. Each unit sold in the initial public offering consisted of one Class A ordinary share and one-fourth of one redeemable warrant. Approximately $345.0 million of the net proceeds from the initial public offering and the sale of the private placement warrants to Supernova Sponsor were deposited in a trust account maintained by American Stock Transfer & Trust Company, acting as trustee, established for the benefit of Supernova’s public stockholders. After deducting payments to existing stockholders of $266.8 million in connection with their exercise of redemption rights prior to the closing of the Business Combination and expenses related to the Business Combination, the remainder of the trust account is now held on our balance sheet to fund our operations and continued growth.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None
Item 6.
Reserved.
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Table of Contents
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.