XML 31 R15.htm IDEA: XBRL DOCUMENT

Convertible Preferred Stock	12 Months Ended
Dec. 31, 2023
Convertible Preferred Stock.
Convertible Preferred Stock	8. Convertible Preferred Stock Concurrent with a 2019 public offering, we entered into a Securities Purchase Agreement (Purchase Agreement), by and among us and the investors listed therein. Pursuant to the terms of the Purchase Agreement, we sold to the investors an aggregate of 30,000 shares of Series A Participating Convertible Preferred Stock, par value $0.001 per share (Series A Preferred Stock), at a per share price of $1,000 in a private placement, and received net proceeds of $28.2 million, after deducting underwriting discounts and commissions of $1.8 million. Each share of Series A Preferred Stock is convertible into 200 shares of common stock, reflecting a conversion price equal to $5.00 per share, subject to customary anti-dilution adjustments. During the year ended December 31, 2023, 4,300 shares of our Series A Preferred Stock converted into 860,000 shares of our common stock, pursuant to the terms of the Purchase Agreement. During the year ended December 31, 2022, 275 shares of our Series A Preferred Stock converted into 55,000 shares of our Common stock, pursuant to the terms of the Purchase Agreement. As of December 31, 2023, no shares of our Series A Preferred Stock remained outstanding.

Convertible Preferred Stock

12 Months Ended

Dec. 31, 2023

8. Convertible Preferred Stock

Concurrent with a 2019 public offering, we entered into a Securities Purchase Agreement (Purchase Agreement), by and among us and the investors listed therein. Pursuant to the terms of the Purchase Agreement, we sold to the investors an aggregate of 30,000 shares of Series A Participating Convertible Preferred Stock, par value $0.001 per share (Series A Preferred Stock), at a per share price of $1,000 in a private placement, and received net proceeds of $28.2 million, after deducting underwriting discounts and commissions of $1.8 million. Each share of Series A Preferred Stock is convertible into 200 shares of common stock, reflecting a conversion price equal to $5.00 per share, subject to customary anti-dilution adjustments.

During the year ended December 31, 2023, 4,300 shares of our Series A Preferred Stock converted into 860,000 shares of our common stock, pursuant to the terms of the Purchase Agreement. During the year ended December 31, 2022, 275 shares of our Series A Preferred Stock converted into 55,000 shares of our Common stock, pursuant to the terms of the Purchase Agreement. As of December 31, 2023, no shares of our Series A Preferred Stock remained outstanding.