1 unchanged sentence
Market Information
−Removed: Our common stock began trading on Nasdaq Stock Market LLC on August 4, 2020, under the symbol “VITL.” Prior to that time, there was no public market for our common stock.
+Added: Our common stock began trading on the Nasdaq Global Market on July 31, 2020, under the symbol “VITL.” Prior to that time, there was no public market for our common stock.
Holders of Record
5 unchanged sentences
We cannot provide any assurance that we will declare or pay cash dividends on our capital stock in the future.
−Removed: In addition, our ability to pay dividends on our capital stock is subject to limitations under the terms of our credit facility agreement with PNC Bank, National Association, or the Credit Facility.
+Added: In addition, our ability to pay dividends on our capital stock may subject to limitations under the terms of our credit facility agreement with PNC Bank, National Association, or the Credit Facility, or other credit facilities we may enter into from time to time.
See Note 10 to our consolidated financial statements included elsewhere in this Annual Report for additional information on the Credit Facility.
2 unchanged sentences
Comparative Stock Performance Graph
−Removed: The following performance graph shows a comparison from August 4, 2020 (the date our common stock commenced trading on the Nasdaq Global Market) through December 27, 2020, of the cumulative total return for our common stock, the Nasdaq Composite Index, and the Nasdaq US Smart Food & Beverage Index.
−Removed: The graph assumes an initial investment of $100 on August 4, 2020.
+Added: The following performance graph shows a comparison from July 31, 2020 (the date our common stock commenced trading on the Nasdaq Global Market) through December 26, 2021, of the cumulative total return for our common stock, the Nasdaq Composite Index and the Nasdaq US Smart Food & Beverage Index.
+Added: The graph assumes an initial investment of $100 on July 31, 2020.
The comparisons in the graph are not intended to forecast or be indicative of possible future performance of our common stock.
1 unchanged sentence
Recent Sales of Unregistered Equity Securities
−Removed: Between December 30, 2019 and July 31, 2020 (the date of the filing of our registration statement on Form S-8, File No.
−Removed: 333-240258), we granted stock options to purchase an aggregate of 873,867 shares of common stock to a total of 180 employees, consultants and directors, at exercise prices ranging from $12.43 to $22.00 per share.
−Removed: Between December 30, 2019 and July 31, 2020, we issued 57,280 shares upon exercise of options having a weighted-average exercise price of $2.54 per share, for proceeds of approximately $0.2 million.
−Removed: We have not sold any unregistered securities since July 31, 2020.
−Removed: None of the foregoing transactions involved any underwriters, underwriting discounts or commissions, or any public offering.
−Removed: Unless otherwise specified above, we believe these transactions were exempt from registration under the Securities Act in reliance on Section 4(a)(2) of the Securities Act, Regulation D or Rule 701 promulgated under Section 3(b) of the Securities Act as transactions by an issuer not involving any public offering or under benefit plans and contracts relating to compensation as provided under Rule 701.
−Removed: The recipients of the securities in each of these transactions represented their intentions to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed on the share certificates issued in these transactions.
−Removed: All recipients had adequate access, through their relationships with us, to information about us.
−Removed: The sales of these securities were made without any general solicitation or advertising.
Use of Proceeds
12 unchanged sentences
We invested the funds received in cash equivalents and other marketable securities in accordance with our investment policy.
−Removed: As of December 27, 2020, we have used $7.3 million of the proceeds of the IPO to pay off our term loan and $1.9 million to pay off our equipment loan.
+Added: As of December 26, 2021, we have used an aggregate of $25.9 million of the IPO proceeds, including $7.3 million to pay off our term loan, $1.9 million to pay off our equipment loan in 2020 and $16.7 million for capital expenditures.
See Note 10 to our consolidated financial statements included elsewhere in this Annual Report for additional information on the Credit Facility.
Issuer Purchases of Equity Securities
−Removed: Selected Financial Data
−Removed: This item is no longer required as we have elected to early adopt the changes to Item 301 of Regulation S-K contained in SEC Release No.
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.