Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
On April 12, 2022, we issued an aggregate of 28,733 restricted shares of our Class A Common Stock to shareholders of Mxt on a pro rata basis as partial consideration of our acquisition of Mxt (the “Mxt Shares”). The Mxt Shares were valued at $17.40 per share, which was the price per share based on the average closing price of our Class A Common Stock for the thirty (30) trading days immediately preceding our acquisition of Mxt. For additional information about the Mxt transaction please see our description in Note 3, Business Combinations, to our consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.
The Mxt Shares were not registered under the Securities Act of 1933, as amended. However, the Mxt Shares were issued in reliance upon the exemption from registration provided for under Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Section 506 of Regulation D promulgated thereunder.
Except as set forth above, we did not sell any other unregistered equity securities during the period covered by this report that were not otherwise disclosed in a Current Report on Form 8-K.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not Applicable.
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