Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.21.2
Stockholders' Equity
 9 Months Ended
Sep. 30, 2021
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity Stockholders’ Equity
Common Stock
Total common stock authorized to be issued as of September 30, 2021 was 1,000,000,000 shares, with a par value of $0.0001 per share. At September 30, 2021 and December 31, 2020, there were 75,556,118 and 56,380,111 shares of our common stock outstanding, respectively, inclusive of 574 restricted shares subject to repurchase for unvested shares related to early option exercises under the Company’s stock equity plans.
On August 14, 2020, we entered into an At-The-Market Issuance Sales Agreement (the “Sales Agreement”) with Ascendiant Capital Markets, LLC (“Ascendiant”), as sales agent, pursuant to which the Company would offer and sell, from time to time, through Ascendiant shares of our common stock for an aggregate offering price of up to $15,000. In January 2021, 2,670,121 shares of our common stock were sold for aggregate net cash proceeds of $5,058. Transaction costs were $156. We terminated the Sales Agreement with Ascendiant effective as of March 28, 2021.
In February 2021, we entered into an underwriting agreement with Northland Securities, Inc. and Roth Capital Partners, LLC, relating to an underwritten public offering to which we issued 11,761,111 shares of our common stock at an offering price of $2.25 per share. Aggregate cash proceeds at closing, net of transaction costs of $1,740, totaled $24,722. We incurred additional transaction costs paid outside of closing of $75.
On April 7, 2021, we entered into an At Market Issuance Sales Agreement with B. Riley Securities, Inc. ("B. Riley"), pursuant to which we may offer and sell, from time to time, shares of our common stock through or to B. Riley. We will pay B. Riley a commission of 3% of the gross proceeds of the sales price per share for sales of our common stock sold through or to B. Riley. The sales agreement with B. Riley will terminate the earlier of (i) the sale of all shares of our common stock permitted under the sales agreement; (ii) the date we or B. Riley elect to terminate by giving the other party five days' notice to the other party; and (iii) the exercise of any other termination right permitted therein. We are not obligated to sell shares under the sales agreement with B. Riley. As of September 30, 2021, 2,730,654 shares of our common stock had been sold and we had received aggregate net cash proceeds of $3,149, of which $3,052 had been received by us in cash as of September 30, 2021. We received the balance subsequent to the end of the quarter, and accordingly, we recorded $97 in prepaid expenses and other current assets as of September 30, 2021. Transaction costs were $97. We also incurred additional transaction costs paid outside of closing of $147.
Warrants
We have various warrants outstanding. A summary of our outstanding warrants is set forth below:

September 30, 2021
December 31, 2020
Warrant Type Cash Exercise
Price per
share		 Number of warrants Cash Exercise
Price per
share		 Number of warrants
2020 Convertible Note warrants $ 2.25  3,840,000  $ 4.00  2,160,000 
Common stock warrant (Series D-1) $ 5.54  14,866  $ 5.54  14,866 
Common stock warrants (Series F) $ 9.22  377,402  $ 9.22  377,402 
Public Warrants (PHUNW) $ 11.50  1,761,291  $ 11.50  1,761,291 
Private Placement Warrants $ 11.50  1,658,381  $ 11.50  1,658,381 
Unit Purchase Option Warrants $ 11.50  24,172  $ 11.50  24,172 
Total 7,676,112  5,996,112