Shareholders' Equity

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

NOTE 10: SHAREHOLDERS’ EQUITY

a. Ordinary shares:

Subject to the Company’s amended and restated Articles of Association, the holders of the Company’s ordinary shares have the right to receive notices to attend and vote in general meetings of the Company’s shareholders, and the right to share in dividends and other distributions upon liquidation.

In May 2020, the Company closed a second follow-on offering of its ordinary shares on Nasdaq, which resulted in the sale of a total of 15,333,334 ordinary shares at a public offering price of $4.50 per share, before underwriting discounts and inclusive of the underwriters’ exercise in full of their option to purchase additional shares in the offering. The Company received proceeds in the amount of $63,860 from the offering (net of issuance costs and underwriting discounts of $5,140).

In December 2020, the Company closed a third follow-on offering of its ordinary shares on Nasdaq, which resulted in the sale of 9,343,750 ordinary shares at a public offering price of $8.00 per share, before underwriting discounts and inclusive of the underwriters’ exercise in full of their option to purchase additional shares in the offering. The Company received proceeds in the amount of $68,988 from the offering (net of issuance costs and underwriting discounts of $5,762).

b. Warrants to investors:

As part of its 2017 investment round, the Company granted certain investors 4,323,978 warrants that will expire in July 2022. As of December 31, 2021, 1,010,466 of the warrants have been exercised into the Company’s ordinary shares.