Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds
(a) None.
(b) On October 22, 2024, our registration statement
on Form S-1 (File No. 333-282780), as amended (the “Registration Statement”) was declared effective by the SEC for our underwritten
initial public offering in which we sold a total of 1,150,000 shares of our common stock, par value $0.00001 per share, at price to the
public of $9.00 per share, for gross proceeds of $10,350,000. Roth Capital Partners, LLC acted as representative of the underwriters for
the offering.
The offering closed on October 24, 2024 (the “initial
public offering”). Following the sale of all the shares upon the closing of the initial public offering and the expiration of the
over-allotment option, the offering terminated. We received net proceeds of approximately $8.4 million after deducting underwriting discounts
and commissions and the estimated offering expenses. No payments for such expenses were made directly or indirectly to (i) any of our
officers or directors or their associates, (ii) any persons owning 10% or more of any class of our equity securities, or (iii) any of
our affiliates. There has been no material change in the planned use of proceeds from our initial public offering as described in the
Prospectus.
(c) None.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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