Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events

Subsequent Events

Note 11 – Subsequent Events

In October 2022, the Company entered into an amendment to its corporate headquarters lease agreement to expand the leased premises by approximately 3,880 square feet. See Note 8 to the Condensed Consolidated Financial Statements.

In November 2022, the Company entered into an underwriting agreement (as amended, the “Underwriting Agreement”) with Guggenheim Securities, LLC, as the representative of the underwriters named therein (the “Underwriters”) relating to the offering, issuance and sale (the “Offering”) of 5,961,080 shares of the Company’s common stock and 2,615,250 shares of the Company’s non-voting common stock. The offering price per share was $5.83, for gross proceeds to the Company from the Offering of approximately $50 million, before deducting customary underwriting discounts and offering expenses. In addition, the Company granted the Underwriters a 30-day option to purchase up to an additional 1,286,449 shares of its common stock on the same terms and conditions as the common stock sold in the Offering.