Annual report pursuant to Section 13 and 15(d)

Capital Structure (Tables)

v3.20.4
Capital Structure (Tables)
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Schedule of Warrants Outstanding to Purchase Shares Common Stock

As of December 31, 2020, the Company had the following warrants outstanding to purchase shares of the Company’s common stock:

 

 

 

Number of Shares

 

 

Exercise Price per Share

 

 

Expiration Date

March Series A Warrants,

    (non-participating holders)

 

 

32,438

 

 

$

0.01

 

 

March 26, 2025

March Series B Warrants,

    (non-participating holders)

 

 

32,438

 

 

$

0.01

 

 

April 26, 2021

March Series A and Series B

   Warrants (participating holders)

 

 

549,231

 

 

$

0.01

 

 

April 26, 2021

MAM Eagle Lender Warrant

 

 

527,100

 

 

$

4.59

 

 

May 29, 2027

November Series A Warrants

 

 

10,126,583

 

 

$

1.20

 

 

November 24, 2025

November Placement Warrants

 

 

607,595

 

 

$

1.48125

 

 

November 24, 2025

December Series A Warrants

 

 

10,300,430

 

 

$

1.18

 

 

December 18, 2025

December Placement Warrants

 

 

618,026

 

 

$

1.45625

 

 

December 18, 2025

Summary of Fair Value Assumptions Black Scholes Option Pricing Model

The following table summarizes the fair value and the assumptions used for the Black-Scholes option-pricing model for the liability classified warrants.

 

 

 

December 31, 2020

 

 

Series A

Warrants

 

 

 

Series B

Warrants

 

 

Fair value

 

$

33

 

 

 

$

32

 

 

Expected dividend yield

 

 

 

%

 

 

 

%

Expected volatility

 

75.18

 

%

 

77.22

 

%

Risk-free interest rates

 

0.27

 

%

 

0.09

 

%

Remaining contractual term

 

4.24 years

 

 

 

0.32 years