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Subsequent Events
9 Months Ended
Jul. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 18.  Subsequent Events

 

Open Market Sale Agreement

 

As noted in Note 12. “Stockholders’ Equity and Warrant Liabilities,” on June 16, 2020, the Company entered into an Open Market Sale Agreement with Jefferies, with respect to an at the market offering program under which the Company may offer and sell up to $75 million of shares of the Company’s common stock from time to time. Subsequent to quarter end, during the period beginning on August 3, 2020 through August 6, 2020, the Company sold 3.2 million shares under the Open Market Sale Agreement, at an average sales price of $2.51 per share, resulting in gross proceeds of $8.0 million, before deducting expenses and sales commissions. Commissions of $0.2 million were paid to Jefferies in connection with these sales, resulting in net proceeds to the Company of approximately $7.8 million.

 

2018 Omnibus Incentive Plan – Long Term Incentive Plan

 

As noted in Note 12. “Stockholders’ Equity and Warrant Liabilities,” on May 8, 2020, the Company’s stockholders approved the amendment and restatement of the Plan, providing the Company with the authority to issue a total of 4,333,333 shares of the Company’s common stock under the Plan. On August 24, 2020, the Board of Directors (the “Board”) of the Company approved a Long Term Incentive Plan (the “LTI Plan”) as a sub-plan consisting of awards made under the Plan.  The participants in the LTI Plan are members of senior management and include the Company’s named executive officers. Pursuant to the LTI Plan, 1,503,068 shares of the Company’s common stock under the Plan have been reserved for time-based grants and performance shares.