Item 1.01. Entry Into a Material Definitive Agreement.
As a part of the Private Placement, the Company issued a warrant (the "Warrant") to the purchaser of the Note giving it the right to purchase up to an aggregate of 262,295 shares of the Company's common stock at an exercise price of
The Company issued a warrant exercisable to purchase 100,000 shares of its common stock at a price of
The Holder has no right to convert the Note or exercise the Warrant to the extent that such conversion or exercise would result in the Holder being the beneficial owner in excess of 4.99% of the Company's common stock. In addition, the Holder has no right to convert the Note or the
Copies of the Note and Warrant issued at the closing are attached Exhibits 10.61 and 10.62, respectively, to this Form 8-K and are incorporated by reference herein. New copies of the Note and Warrant issued at closing are attached as exhibits to this Report because they include additional provisions relating to the Nasdaq Share Cap that were not in the forms of such documents filed as Exhibits 10. 51 and 10.52, respectively, with the Company's Current Report on Form 8-K filed on
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Form 8-K is hereby incorporated by reference into this Item 2.03.
Item 3.02. Unregistered Sales of
The information included in Item 1.01 of this Form 8-K is hereby incorporated by reference into this Item 3.02.
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