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Item 5. Market for Registrant’s Common Equity

2025-03-31 compared with 2024-03-28 · 28 added, 36 removed, 0 unchanged (100% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Common Stock began trading on Nasdaq on April 1, 2022 under the symbol “XPON.” As of March 23, 2024, there were approximately

11 registered holders of our Common Stock .

have never declared or paid cash dividends on our Common Stock.

We do not anticipate declaring or paying any cash dividends on our Common

Stock in the foreseeable future.

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.

Any future determination related to our dividend policy will be made at the discretion

of our Board and will depend upon, among other factors, our results of operations, financial condition, capital requirements, contractual

restrictions, business prospects, and other factors our Board may deem relevant.

Further, the outstanding 3i Note and any future debt

facilities we may enter into may contain restrictions on our ability to pay dividends or make distributions, and any new credit facilities

we may enter into may contain similar restrictions.

Performance Graph

a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for

by Item 201(e) of Regulation S-K.

Sales of Unregistered Securities from Registered Securities

were no sales of unregistered equity securities during the fiscal year ended December 31, 2023 that were not previously reported in a

Quarterly Report on Form 10-Q or Current Report on Form 8-K.

of Proceeds from Registered Securities

April 5, 2022, we completed our initial public offering of 2,145,000 shares of common stock, including shares issued upon the exercise

in full of the underwriters’ option to purchase 321,750 additional shares of common stock, at a public offering price of $7.00

per share, resulting in aggregate gross proceeds of $17,267,250 and net proceeds of $14,772,487 after issuance costs of $2,494,763.

offer and sale of these shares were registered under the Securities Act pursuant to a registration statement on Form S-1 (File No.

which was declared effective by the SEC on March 31, 2022.

Paulson Investment Company LLC, Alexander Capital, LP and Revere Securities

LLC acted as underwriters for the offering.

Shares of our common stock began trading on Nasdaq on April 1, 2022 and, following the sale

of all the shares upon the closing of the initial public offering on April 5, 2022, the offer terminated.

offering expenses were paid directly or indirectly to any of our directors, officers, persons owning 10% or more of any class of our

equity securities, or to their associates, or to our affiliates.

There has been no material change in the planned use of proceeds from

our initial public offering from that described in the final prospectus for our initial public offering dated March 31, 2022, filed with

the SEC pursuant to Rule 424(b)(4) under the Securities Act on April 4, 2022, and those disclosed in this Annual Report.

of Equity Securities by the Issuer and Affiliated Purchasers

MARKET FOR REGISTRANT’S COMMON

EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Our common stock began trading on

Nasdaq on April 1, 2022 under the symbol “XPON.” As of March 25, 2025, there were approximately 16 registered holders of our

common stock, which does not include beneficial owners of our common stock whose shares are held in the names of various securities brokers,

dealers, and registered clearing agencies .

Dividend Policy

We have never declared or paid cash

dividends on our common stock.

We do not anticipate declaring or paying any cash dividends on our common stock in the foreseeable future.

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.

Any future determination related to our dividend policy will be made at the discretion of our Board and will depend upon,

among other factors, our results of operations, financial condition, capital requirements, contractual restrictions, business prospects,

and other factors our Board may deem relevant.

Further, any future debt facilities we may enter into may contain restrictions on our ability

to pay dividends or make distributions, and any new credit facilities we may enter into may contain similar restrictions.

Stock Performance Graph

As a smaller reporting company (as

defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called for by Item 201(e) of Regulation S-K.

Recent Sales of Unregistered Securities from

Registered Securities

There were no sales of unregistered

equity securities during the fiscal year ended December 31, 2024 that were not previously reported in a Quarterly Report on Form 10-Q

or Current Report on Form 8-K.

Purchases of Equity Securities by the Issuer

and Affiliated Purchasers

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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity