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Subsequent Events
6 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

Note 20. SUBSEQUENT EVENTS


On January 27, 2021, the Company entered into a securities purchase agreement with the non-U.S. investors specified on the signature page thereto pursuant to which the Company agreed to sell to the investors, and the Investors agreed to purchase from the Company, an aggregate of 1,086,956 shares of common stock, no par value, and warrants to purchase 5,434,780 shares, for aggregate gross proceeds to the Company of approximately $4.0 million. The purchase price for each share of common stock and five warrants is $3.68, and the exercise price per warrant is $5.00. The Company has received the full amount of payment in January 2021.


On February 6, 2021, the Company entered into a Securities Purchase Agreement with the investors pursuant to which the Company agreed to sell to the Investors, and the investors agreed to purchase from the Company, in a registered direct offering, an aggregate of 1,998,500 shares of the common stock of the Company, no par value per share, at a purchase price of $6.805 per share, for aggregate gross proceeds to the Company of approximately $13.6 million. The Company also agreed to sell to the investors warrants to purchase up to an aggregate of 1,998,500 shares of common stock at an exercise price of $6.805 per share. The warrants shall be initially exercisable upon issuance and expire five and a half (5.5) years from the date of issuance. The exercise price and the number of shares of common stock issuable upon exercise of the warrants are subject to adjustment in the event of stock splits or dividends, or other similar transactions, but not as a result of future securities offerings at lower prices. Net proceeds to the Company from the sale of the shares and the warrants, after deducting estimated offering expenses and placement agent fees, are approximately $12.3 million. The offering is closed on February 10, 2021. The Company has received the full amount of payment in February 2021.


On February 9, 2021, the Company entered into a securities purchase agreement with the investors pursuant to which the Company agreed to sell to the investors, and the Investors agreed to purchase from the Company, in a registered direct offering, an aggregate of 3,655,000 shares of the common stock of the Company, no par value per share, at a purchase price of $7.80 per share, for aggregate gross proceeds to the Company of $28,509,000. The Company also agreed to sell to the Investors warrants to purchase up to an aggregate of 3,655,000 shares of common stock at an exercise price of $7.80 per share. The warrants shall be initially exercisable upon issuance and expire five and a half (5.5) years from the date of issuance. The exercise price and the number of shares of common stock issuable upon exercise of the warrants are subject to adjustment in the event of stock splits or dividends, or other similar transactions, but not as a result of future securities offerings at lower prices. Net proceeds to the Company from the sale of the shares and the warrants, after deducting estimated offering expenses and placement agent fees, are approximately $26.2 million. The offering is closed on February 11, 2021. The Company has received the full amount of payment in February 2021.