Post by tradeup on Jul 15, 2014 13:03:18 GMT
Prospectus Supplement (7/15/2014)
www.sec.gov/Archives/edgar/data/883975/000119312514268510/d759111d424b5.htm
Updated O/S: 68,112,722 shares
Capital raise notes:
- 11,299,435 Shares of Common Stock
- Warrants to Purchase up to 9,604,520 Shares of Common Stock
- Placement agent: Ascendiant Capital Markets
We are offering up to 11,299,435 shares of our common stock and warrants to purchase up to 9,604,520 shares of our common stock in this offering. The common stock and warrants will be sold in units, with each unit consisting of one share of common stock and a warrant to purchase 0.85 shares of common stock at an exercise price of $2.17 per share of common stock. Each unit will be sold at a negotiated price of $1.77 per unit. The shares of common stock and warrants will be issued separately but can only be purchased together in this offering.
Each warrant will first be exercisable six months from the date of issuance at an initial exercise price of $2.17 per share. The warrants are non-transferable and will expire thirteen months from the date of issuance.
Common stock to be outstanding after this offering: 68,112,722 shares, excluding the shares underlying the warrants offered hereby.
The number of shares of common stock shown above to be outstanding after this offering is based on the 56,813,287 shares outstanding as of June 30, 2014 and excludes:
• 9,492,787 shares of our common stock that have been reserved for issuance upon exercise of the warrants offered by this prospectus supplement;
• 375,670 shares of our common stock subject to options outstanding as of June 30, 2014;
• 3,137,440 shares of our common stock subject to outstanding restricted stock units as of June 30, 2014;
• 10,015,497 shares of our common stock that have been reserved for issuance in connection with future grants under our stock option plans as of June 30, 2014; and
• 14,207,426 shares of our common stock that have been reserved for issuance upon exercise of outstanding warrants as of June 30, 2014.
Pursuant to the letter agreement, we agreed to pay a placement fee to Ascendiant equal to 6.0% of the total gross proceeds received by us in this offering payable at the closing, and an additional fee of up to 6.0% of the gross cash proceeds received by us from the exercise of any warrant sold by the prospectus supplement.
We estimate that the net proceeds from the sale of the units offered by this prospectus supplement will be approximately $18.7 million, after deducting the placement agent fees and estimated offering expenses payable by us and excluding the proceeds, if any, of the warrants issued in this offering.
www.sec.gov/Archives/edgar/data/883975/000119312514268510/d759111d424b5.htm
Updated O/S: 68,112,722 shares
Capital raise notes:
- 11,299,435 Shares of Common Stock
- Warrants to Purchase up to 9,604,520 Shares of Common Stock
- Placement agent: Ascendiant Capital Markets
We are offering up to 11,299,435 shares of our common stock and warrants to purchase up to 9,604,520 shares of our common stock in this offering. The common stock and warrants will be sold in units, with each unit consisting of one share of common stock and a warrant to purchase 0.85 shares of common stock at an exercise price of $2.17 per share of common stock. Each unit will be sold at a negotiated price of $1.77 per unit. The shares of common stock and warrants will be issued separately but can only be purchased together in this offering.
Each warrant will first be exercisable six months from the date of issuance at an initial exercise price of $2.17 per share. The warrants are non-transferable and will expire thirteen months from the date of issuance.
Common stock to be outstanding after this offering: 68,112,722 shares, excluding the shares underlying the warrants offered hereby.
The number of shares of common stock shown above to be outstanding after this offering is based on the 56,813,287 shares outstanding as of June 30, 2014 and excludes:
• 9,492,787 shares of our common stock that have been reserved for issuance upon exercise of the warrants offered by this prospectus supplement;
• 375,670 shares of our common stock subject to options outstanding as of June 30, 2014;
• 3,137,440 shares of our common stock subject to outstanding restricted stock units as of June 30, 2014;
• 10,015,497 shares of our common stock that have been reserved for issuance in connection with future grants under our stock option plans as of June 30, 2014; and
• 14,207,426 shares of our common stock that have been reserved for issuance upon exercise of outstanding warrants as of June 30, 2014.
Pursuant to the letter agreement, we agreed to pay a placement fee to Ascendiant equal to 6.0% of the total gross proceeds received by us in this offering payable at the closing, and an additional fee of up to 6.0% of the gross cash proceeds received by us from the exercise of any warrant sold by the prospectus supplement.
We estimate that the net proceeds from the sale of the units offered by this prospectus supplement will be approximately $18.7 million, after deducting the placement agent fees and estimated offering expenses payable by us and excluding the proceeds, if any, of the warrants issued in this offering.
