Subsequent Events |
3 Months Ended |
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Mar. 31, 2023 | |
| Subsequent Events | |
| Subsequent Events |
Note 12 – Subsequent Events On April 3, 2023, the Company filed a Certificate of Amendment to our Amended and Restated Certificate of Incorporation, as amended, to effect a 15-for-1 reverse stock split of the Company’s common stock. The reverse stock split became effective on April 3, 2023, and the Company’s common stock was quoted on the Nasdaq Stock Market on a post-split basis beginning at the open of business on April 4, 2023. On April 11, 2023, the Term Loan was terminated upon receipt by Runway of a payoff amount of $30.7 million from the Company (comprising principal, interest and the applicable final payment amount); provided that the Company continues to be bound by certain indemnification obligations under Section 12.3 of the Runway Loan Agreement. The payoff amount paid by the Company in connection with the termination of the Term Loan was pursuant to a payoff letter with Runway. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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