Subsequent Events

6 Months Ended

Jul. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

(14) Subsequent Events

On June 29, 2017, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the “Underwriters”), relating to the Company’s IPO.  The Company granted the Underwriters a 30-day option to purchase up to an additional 1,285,800 shares, solely to cover over-allotments.  The Underwriters exercised their over-allotment option and the second closing of the IPO took place on August 1, 2017, at which time the Company sold 1,000,000 shares of common stock.The shares were sold at the IPO price of $7.00 per share for net proceeds of $6.5 million, after deducting underwriting discounts and commissions of $0.5 million.  

In September 2017, the Company approved grants of options under the 2017 Plan to certain eligible employees to purchase a total of 58,966 shares, and grants of PSUs under the 2017 Plan to certain eligible employees covering a total of 3,662,534 shares. The total grant date fair value for these options is $0.1 million and is $16.3 million for these PSUs. Expensing for these PSUs will commence upon grant and continue through the final vesting date.