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Stock Issuance
6 Months Ended
Jun. 30, 2020
Stock Issuance  
8. Stock Issuance

Note 8. Stock Issuance

 

On April 27, 2020, the Company entered into a Securities Purchase Agreement with related parties pursuant to which the Company agreed to sell and issue approximately 1.2 million shares for $5.0 million, or $4.08 per share. The selling price was determined by the average closing price over the ten trading days immediately preceding the date of Securities Purchase Agreement (the “Financing”).On May 7, 2020, the Company closed the Financing and received proceeds of $4.9 million, net of offering costs.