07/17/2025 | Press release | Distributed by Public on 07/17/2025 05:37
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EFFECTIVE
PER SHARE AND ACCOMPANYING WARRANT(1) |
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TOTAL
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Public offering price
|
| | | $ | 1.555 | | | | | $ | 7,000,050 | | |
Underwriting discounts and commissions(2)
|
| | | $ | 0.10885 | | | | | $ | 490,004 | | |
Proceeds to us, before expenses(3)
|
| | | $ | 1.44615 | | | | | $ | 6,510,047 | | |
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PAGE
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Prospectus Supplement
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-1 | | |
FORWARD-LOOKING STATEMENTS
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| | | | S-2 | | |
PROSPECTUS SUPPLEMENT SUMMARY
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| | | | S-4 | | |
RISK FACTORS
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| | | | S-9 | | |
USE OF PROCEEDS
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| | | | S-12 | | |
DESCRIPTION OF SECURITIES WE ARE OFFERING
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| | | | S-14 | | |
DILUTION
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| | | | S-16 | | |
UNDERWRITING
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| | | | S-17 | | |
LEGAL MATTERS
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| | | | S-21 | | |
EXPERTS
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| | | | S-21 | | |
WHERE YOU CAN FIND MORE INFORMATION
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| | | | S-22 | | |
INCORPORATION OF DOCUMENTS BY REFERENCE
|
| | | | S-23 | | |
Prospectus
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ABOUT THIS PROSPECTUS
|
| | | | i | | |
SUMMARY
|
| | | | 1 | | |
RISK FACTORS
|
| | | | 7 | | |
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | 8 | | |
USE OF PROCEEDS
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| | | | 10 | | |
DESCRIPTION OF CAPITAL STOCK
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| | | | 11 | | |
DESCRIPTION OF DEBT SECURITIES
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| | | | 15 | | |
DESCRIPTION OF WARRANTS
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| | | | 22 | | |
LEGAL OWNERSHIP OF SECURITIES
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| | | | 24 | | |
PLAN OF DISTRIBUTION
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| | | | 27 | | |
LEGAL MATTERS
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| | | | 29 | | |
EXPERTS
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| | | | 29 | | |
WHERE YOU CAN FIND MORE INFORMATION
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| | | | 30 | | |
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
|
| | | | 31 | | |
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Effective public offering price per share and accompanying Common Warrant(1)
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| | | | | | | | | $ | 1.555 | | |
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Net tangible book value per share as of March 31, 2025
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| | | $ | 0.16 | | | | | | | | |
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Increase in net tangible book value per share attributable to the offering
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| | | $ | 0.17 | | | | | | | | |
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As adjusted net tangible book value per share after giving effect to the offering
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| | | | | | | | | $ | 0.33 | | |
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Dilution in net tangible book value per share to new investors
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| | | | | | | | | $ | 1.225 | | |
UNDERWRITER
|
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NUMBER OF
SHARES |
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NUMBER OF
COMMON WARRANTS |
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Newbridge Securities Corporation
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| | | | 4,501,640 | | | | | | 2,250,820 | | |
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Effective Price
Per Share and accompanying Common Warrant |
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Total Without
Option |
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Total With
Option |
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Public offering price(1)
|
| | | $ | 1.555 | | | | | $ | 7,000,050 | | | | | $ | 8,050,058 | | |
Underwriting discounts and commissions(2)
|
| | | $ | 0.10885 | | | | | $ | 490,004 | | | | | $ | 563,504 | | |
Proceeds, before expenses, to us
|
| | | $ | 1.44615 | | | | | $ | 6,510,047 | | | | | $ | 7,486,554 | | |
|
ABOUT THIS PROSPECTUS
|
| | | | i | | |
|
SUMMARY
|
| | | | 1 | | |
|
RISK FACTORS
|
| | | | 7 | | |
|
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
|
| | | | 8 | | |
|
USE OF PROCEEDS
|
| | | | 10 | | |
|
DESCRIPTION OF CAPITAL STOCK
|
| | | | 11 | | |
|
DESCRIPTION OF DEBT SECURITIES
|
| | | | 15 | | |
|
DESCRIPTION OF WARRANTS
|
| | | | 22 | | |
|
LEGAL OWNERSHIP OF SECURITIES
|
| | | | 24 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 27 | | |
|
LEGAL MATTERS
|
| | | | 29 | | |
|
EXPERTS
|
| | | | 29 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 30 | | |
|
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
|
| | | | 31 | | |