EQUITY TRANSACTIONS

9 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS

During the three and nine months ended March 31, 2022 and 2021, respectively, stock options to purchase shares of the Company's common stock were exercised as follows:

	Three-Months Ended March 31,				Nine-Months Ended March 31,
	2022		2021		2022		2021
Options exercised	—		72,750		—		141,281
Proceeds (in thousands)	$	—	$	314	$	—	$	625
Average exercise price per share	$	—	$	4.32	$	—	$	4.42

As of March 31, 2022, there was $1.1 million and $0.8 million of stock compensation expense related to non-vested options and non-vested restricted stock awards, respectively, which is expected to be recognized over weighted average periods of 2.49 years for each.

On August 30, 2021, the Company closed its previously announced underwritten secondary offering of a total of 2,070,000 shares of its common stock at a public offering price of $8.65 per share, including the exercise in full by the underwriter of its option to purchase an additional 270,000 shares to cover over-allotments in connection with the offering. After the underwriting discount and offering expenses payable by the Company of $1.1 million, the Company received net proceeds of approximately $16.8 million.