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Warrants
3 Months Ended
Mar. 31, 2022
Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants [Abstract]  
Warrants

Note 13. Warrants

In connection with certain of its redeemable convertible preferred stock issuances, convertible debt financings and other financing arrangements, the Company has issued warrants for shares of its common stock and various issues of its redeemable convertible preferred stock, which have since been converted to common stock warrants.

 

The Company granted to SVB a warrant to purchase up to 42,894 shares of the Company’s common stock at a purchase price of $11.6565 per share in connection with the SVB Term Loan (see Note 8). The warrant will expire on June 24, 2030 and may be exercised for cash or at the election of the holder on a cashless, net exercise basis.

 

In connection with the March 2022 Purchase Agreement (see Note 14), the Company issued and sold pre-funded warrants exercisable for an aggregate of 2,410,933 shares of common stock. Each pre-funded warrant has an exercise price of $0.001 per share and does not expire until exercised in full. The Company also issued and sold to the investor common warrants to purchase 3,244,987 shares of common stock that will expire on March 17, 2024 and common warrants to purchase an additional 3,244,987 shares of common stock that will expire on September 17, 2027. Each of these common warrants is exercisable commencing September 21, 2022 and has an exercise price of $2.062 per share.

 

The following table shows the common stock warrants outstanding as of March 31, 2022:

 

Warrant Issuance Date

 

Shares of

Common Stock

Underlying

Warrants

 

 

Exercise

Price/Share

 

 

Expiration Date

August 2014

 

 

1,914

 

 

$

352.65

 

 

2024

March 2016

 

 

3,021

 

 

 

41.40

 

 

2026

March 2018

 

 

1,208

 

 

 

115.95

 

 

2028

June 2020

 

 

42,894

 

 

11.6565

 

 

2030

March 2022

 

 

2,410,933

 

 

 

0.001

 

 

None

March 2022

 

 

3,244,987

 

 

 

2.062

 

 

2024

March 2022

 

 

3,244,987

 

 

 

2.062

 

 

2027