Stockholders' Equity

12 Months Ended

Oct. 02, 2020

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

We have authorized 10 million shares of $0.001 par value preferred stock and 300 million shares of $0.001 par value common stock as of October 2, 2020 and September 27, 2019. The outstanding shares of common stock as of October 2, 2020 presented in the accompanying Consolidated Statements of Stockholders’ Equity, excludes 5,414 unvested shares of restricted stock awards, issued as compensation to employees that were subject to forfeiture. There were no unvested shares of restricted stock awards that were subject to forfeiture as of September 27, 2019.

Common Stock Warrants—In March 2012, we issued warrants to purchase 1,281,358 shares of common stock for $14.05 per share. The warrants expire December 21, 2020, or earlier as per the terms of the agreement, including immediately following consummation of a sale of all or substantially all assets or capital stock or other equity securities, including by merger, consolidation, recapitalization or similar transactions. We do not currently have sufficient registered and available shares to immediately satisfy a request for registration, if such a request were made. As of October 2, 2020, no exercise of the warrants had occurred and no request had been made to register the warrants or any underlying securities for resale by the holders. On November 11, 2020, we issued 850,311 shares of common stock related to a cashless exercise of 1,270,679 shares associated with the warrants.

We are recording the estimated fair values of the warrants as a long-term liability in the accompanying Consolidated Balance Sheets with changes in the estimated fair value being recorded in the accompanying Consolidated Statements of Operations.