Warrants

12 Months Ended

Sep. 30, 2020

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Warrants

10. Warrants

In connection with its long-term debt agreements, the Company issued warrants for its redeemable convertible preferred stock and common stock as follows for the years ended September 30, 2020 and 2019:

	Number of shares underlying warrants		Issuance date		Expiration date		Exercise price per share
Warrant class/series:
Common stock warrants		18,854		December 22, 2015		December 22, 2025	$	14.85
Common stock warrants		7,531		March 28, 2016		March 28, 2026	$	21.24
Total common stock warrants		26,385

In October 2018, each warrant to purchase redeemable convertible preferred stock was converted to a warrant to purchase common stock immediately prior to the completion of the IPO. In November 2018, a total of 68,901 warrants were net exercised; 36,838 warrants with an exercise price of $3.26 per common share and 32,063 warrants with an exercise price of $6.24 per common share. The transactions were a cashless exercise for a net 57,122 common shares issued by the Company. In July 2019, a total of 32,064 warrants with an exercise price of $6.24 per common share were net exercised for a net 25,422 common shares issued by the Company. In September 2019, a total of 16,221 warrants with an exercise price of $7.84 per common share were net exercised for a net 12,019 common shares issued by the Company. The remaining 26,385 warrants were exercised after September 20, 2020. The transactions were a cashless exercises with a total of 18,854 warrants issued for a net of 16,051 issued by the Company in October 2020 and a total of 7,531 warrants issued for a net of 6,041 shares issued by the Company in November 2020.