STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2024

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

15.   STOCKHOLDERS’ EQUITY

Common Stock

The Company’s amended and restated certificate of incorporation as of December 31, 2024 authorized the issuance of 250.0 million shares of common stock, $0.01 par value per share, of which 55.7 million were issued and outstanding as of December 31, 2024.

The following table summarizes the total number of shares of the Company’s common stock issued and reserved for issuance as of December 31, 2024 and 2023 (in thousands):

	December 31, 2024	December 31, 2023
Shares of common stock issued	55,679	29,092
Shares of common stock reserved for issuance for:
Common stock warrants outstanding	1,725	41
Stock options outstanding	1,237	1,270
Restricted stock units outstanding	5,253	3,360
Shares available for grant under stock incentive plans	3,596	978
Shares available for sale under employee stock purchase plan	1,624	1,335
Total shares of common stock issued and reserved for issuance	69,114	36,076

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Holders of common stock are entitled to receive any dividends that the Company’s board of directors may declare out of funds legally available for that purpose on a non-cumulative basis. The Company has never paid, and for the foreseeable future does not expect to pay, a dividend on its common stock.

Common Stock Warrants

The following table summarizes the Company’s outstanding common stock warrants as of December 31, 2024 and 2023:

December 31, 2024
Warrants
Outstanding
(in thousands)	Exercise Price		Expiration Date
1,125	$	0.94	July-2034
600	$	0.94	Dec-2034
1,725

December 31, 2023
Warrants
Outstanding
(in thousands)	Exercise Price		Expiration Date
20	$	9.73	Mar-2024
21	$	9.73	Dec-2024
41

Subsequent event Common Stock Offering

On February 10, 2025, the Company completed a secondary public offering of its common stock in which the Company issued and sold 9,200,000 shares of its common stock, which included shares pursuant to an option granted to the underwriter to purchase additional shares, at a public offering price of $2.25 per share. The Company received net proceeds of approximately $18.9 million after deducting underwriting discounts, commissions and estimated offering expenses.