Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

v3.22.1
Stockholders’ Equity
 6 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Stockholders’ Equity

6. Stockholders’ Equity

 

Common stock

 

During the six months ended March 31, 2021, the Company sold common stock of 4,021,561 shares under an at-the-market sales agreement for gross proceeds of an aggregate of $10.6 million and net proceeds of $10.2 million.

 

Common stock warrants

 

As of March 31, 2022, the following equity-classified warrants and related terms were outstanding:

    Warrants Outstanding     Exercise Price     Expiration Date
Common stock warrants     39,588,234     $ 0.85     August 24, 2026
Underwriter warrants     705,882     $ 1.0625     August 19, 2026
Private warrants     105,812     $ 29.32     October 1, 2022 - March 10, 2023
Chanticleer warrants     17,760     $ 58.50 - $91.00     April 30, 2027 - December 17, 2028
Series B warrants     42,373     $ 0.0001     April 16, 2025
Series C warrants     11,329,461     $ 3.19     October 16, 2025
      51,789,522              

 

During the six months ended March 31, 2021, the Series B warrant holders exercised 23,863 warrants for proceeds of $2. An additional 2,242,427 of Series B warrants were net share settled, resulting in the issuance of 2,242,339 shares of common stock.

 

During the six months ended March 31, 2021, the Chanticleer warrants to purchase 186,161 shares of common stock with an exercise price of $0.01 per share were net share settled, resulting in the issuance of 185,422 shares of common stock.