|12 Months Ended|
Dec. 31, 2020
|18. SUBSEQUENT EVENTS||
18. SUBSEQUENT EVENTS
Issuance of Common Stock
On February 3, 2021, the Company amended the Sale Agreement with Jefferies (see Note 1) to increase the aggregate offering amount under the Sale Agreement to allow the Company to sell shares having an additional aggregate offering price of up to $35.4 million.
Between January 1, 2021 and March 16, 2021, the Company sold an additional 16,311,084 shares of its common stock under the Sale Agreement and received net proceeds in the amount of $38.3 million, which leaves a remaining gross balance that can be raised under the Sale Agreement of $22.7 million.
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://fasb.org/us-gaap/role/ref/legacyRef