Item 1.01. Entry Into a Material Definitive Agreement.
On
The Investor Warrant has an exercise price of
As described below in Item 3.02, the Company has also issued additional shares
in private placements with a number of other investors, which including the
The representations, warranties and covenants contained in the SPA were made solely for the benefit of the parties to the SPA. In addition, such representations, warranties and covenants (i) are intended as a way of allocating the risk between the parties to the SPA and not as statements of fact, and (ii) may apply standards of materiality in a way that is different from what may be viewed as material by stockholders of, or other investors in, the Company. Accordingly, the SPA is included with this filing only to provide investors with information regarding the terms of transaction, and not to provide investors with any other factual information regarding the Company. Stockholders should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company or any of its subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the SPA, which subsequent information may or may not be fully reflected in public disclosures.
The SPA and the form of Investor Warrant are filed as Exhibits 10.1 and 4.1, respectively, to this Current Report on Form 8-K. The foregoing summaries of the terms of these documents are subject to, and qualified in their entirety by, such documents, which are incorporated herein by reference.
Item 3.02. Unregistered Sale of
The information contained above in Item 1.01 related to the Private Placement is
hereby incorporated by reference into this Item 3.02. In addition to the Private
Placement, on
Such private placements were comprised of:
(i) an aggregate of 143,230 shares of common stock and warrants to purchase
143,230 shares of common stock a purchase price per share and warrant of
(ii) an aggregate of 94,000 shares issued in connection with investors who
exercised warrants issued by the Company in
The shares of common stock and the warrants issued to the Investor and the other investors described above (as well as any shares issuable upon exercise of the Investor Warrant and other warrants described above), were and will be sold and issued without registration under the Securities Act in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act as transactions not involving a public offering and Rule 506 promulgated under the Securities Act as sales to an accredited investor, and in reliance on similar exemptions under applicable state laws.
Item 8.01. Other Events.
On
The information in this Item 8.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the United States Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit Number Title 4.1 Form of Common Stock Purchase Warrant. 10.1 Securities Purchase Agreement dated as ofDecember 31, 2019 . 99.1 Press Release issued onJanuary 2, 2020 .
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