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Unregistered Sales of Equity Securities
−Removed: On August 15, 2022, we announced a private placement financing with 25 accredited investors, including our Chief Executive Officer and Chairman Gerard Barron and ERAS Capital LLC, and the investment fund of our director Andrei Karkar.
−Removed: Pursuant to three securities purchase agreements we entered into on August 12, 2022, we issued an aggregate of 37,978,680 common shares to the investors at a price per share of $0.80 ($0.9645 with respect to approximately $100,000 of common shares purchased by our Chief Executive Officer and Chairman in the private placement financing, which was the consolidated closing bid price of the common shares on August 11, 2022).
−Removed: We received aggregate gross cash proceeds of approximately $30.4 million from the private placement during the quarter ended September 30, 2022 and net cash proceeds of approximately $30 million, after deducting placement agent fees and offering expenses.
−Removed: The common shares issued in the private placement financing were issued pursuant to and in accordance with the exemption from registration under Section 4(a)(2) of the Securities Act and/or Regulation D promulgated under the Securities Act.
+Added: On February 23, 2023, we issued 10,850,000 common shares priced at $1.00 per share to Allseas as payment for the third milestone amounting to $10 million and additional costs owed to Allseas under the PMTA.
+Added: The common shares were issued pursuant to and in accordance with the exemption from registration under Section 4(a)(2) of the Securities Act.
Issuer Purchases of Equity Securities
−Removed: We did not repurchase any of our equity securities during the three and nine months ended September 30, 2022.
+Added: We did not repurchase any of our equity securities during the three months ended March 31, 2023.
DEFAULTS UPON SENIOR SECURITIES.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.