Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

Exercise of Series A and Series B Warrants

As discussed in Note 4 and Note 13, on April 28, 2017, the Company sold 24.9 million Units, each consisting of one share of Common Stock, a Series A Warrant to purchase one share of Common Stock with an exercise price of $1.00 per share, and a Series B Warrant to purchase 0.75 shares of Common Stock with an exercise price of $1.00 per share at an offering price of $1.00 per Unit.  Each Series A Warrant could be exercised at any time beginning on the date of issuance, and from time to time thereafter, through October 31, 2017, the accelerated expiration date of the Series A Warrants resulting from receipt of 510(k) clearance for the Company's Senhance Surgical System. As of October 31, 2017, all of the Series A Warrants had been exercised resulting in $24.9 million in gross proceeds to the Company.

Each Series B Warrant has an initial exercise price of $1.00 per share and may be exercised at any time beginning on the date of issuance and from time to time thereafter through and including the fifth anniversary of the issuance date. As of October 31, 2017, Series B Warrants representing approximately 8.9 million shares had been exercised resulting in $8.7 million in grossproceeds to the Company.  

19. Subsequent Events (Continued)

Completion of 2017 ATM Offering

As discussed in Note 15, on August 31, 2017, the Company entered into the 2017 Sales Agreement with Stifel, as sales agent, pursuant to which the Company could sell through Stifel, from time to time, up to $50.0 million in shares of common stock in an at-the-market offering. The Company pays Stifel a commission of approximately 3% of the aggregate gross proceeds received from all sales of common stock under the 2017 Sales Agreement. Unless otherwise terminated earlier, the 2017 Sales Agreement continues until all shares available under the Sales Agreement have been sold. As of October 31, 2017, the Company completed the sale of all shares available under the 2017 Sales Agreement resulting in gross proceeds of $50 million and net proceeds to the Company of $48.5 million.