Embedded Derivatives Liabilities

Derivative Warrant Liability

There were

warrants sold by the Company during the

three

months ended

March 31, 2021.

The following table sets forth information pertaining to shares issued upon the exercise of warrants as of

March 31, 2021:

	Issuance Date	Expiration Date	Exercise Price as of March 31, 2021		Shares Underlying Warrants on Issuance Date	Shares Issued upon Warrant Exercises as of March 31, 2021	Shares Underlying Warrants Outstanding as of March 31, 2021

Series F Warrants	04/01/2016	04/01/2021	$	40.00	25,733	11,692	14,041
Series I Warrants	09/13/2016	09/13/2021	$	220.00	35,368	—	35,368
Series K Warrants	02/17/2017	2/17/2022	$	2.00	315,986	308,660	7,326
Series 2020-A Warrants (1)	7/6/2020	7/6/2025	$	0.60	30,000,000	29,905,892	94,108

					30,377,087	30,226,244	150,843

(

) The Series

2020

-A Warrants are equity-classified warrants.

The agreements governing the above warrants include the following terms:

•

certain warrants have exercise prices which are subject to adjustment for certain events, including the issuance of stock dividends on the Company's common stock and, in certain instances, the issuance of the Company's common stock or instruments convertible into the Company's common stock at a price per share less than the exercise price of the respective warrants;

•

warrant holders

may

exercise the warrants through a cashless exercise if, and only if, the Company does

not

have an effective registration statement then available for the issuance of the shares of its common stock. If an effective registration statement is available for the issuance of its common stock a holder

may

only exercise the warrants through a cash exercise;

•

the exercise price and the number and type of securities purchasable upon exercise of the warrants are subject to adjustment upon certain corporate events, including certain combinations, consolidations, liquidations, mergers, recapitalizations, reclassifications, reorganizations, stock dividends and stock splits, a sale of all or substantially all of the Company's assets and certain other events; and

•

in the event of an “extraordinary transaction” or a “fundamental transaction” (as such terms are defined in the respective warrant agreements), generally including any merger with or into another entity, sale of all or substantially all of the Company's assets, tender offer or exchange offer, or reclassification of its common stock, in which the successor entity (as defined in the respective warrant agreements) that assumes the successor entity is

not

a publicly traded company, the Company or any successor entity will pay the warrant holder, at such holder's option, exercisable at any time concurrently with or within

days after the consummation of the extraordinary transaction or fundamental transaction, an amount of cash equal to the value of such holder's warrants as determined in accordance with the Black-Scholes option pricing model and the terms of the respective warrant agreement. In some circumstances, the Company or successor entity

may

be obligated to make such payments regardless of whether the successor entity that assumes the warrants is a publicly traded company.

During the

three

months ended

March 31, 2021,

common stock was issued as a result of exercise of warrants as shown below (dollars in thousands):

	Common Stock Issued		Proceeds

Series 2020-A Warrants		1,863,058	$	1,117