Options and Warrants
As of November 3, 2017, options to purchase 1,867,831 shares of our common stock were outstanding under our 2012 Stock Incentive Plan and our Amended and
Restated 2014 Equity and Incentive Plan, at a weighted average exercise price of $1.34 per share.
As of November 3, 2017, we had outstanding
warrants, held by Hercules, to purchase 31,674 shares of the Companys common stock at an exercise price of $8.84 and 40,705 shares of the Companys common stock at an exercise price of $7.37 per share. These warrants are exercisable by
Hercules at any time, in whole or in part, until January 30, 2020 and June 23, 2020, respectively. The exercise prices are subject to proportional adjustment upon the subdivision or combination of shares of the common stock, or an
appropriate adjustment by the board at the time of a merger event, as defined in the applicable warrant agreement, or a reclassification of shares (by combination, reclassification, exchange or subdivision of securities or otherwise).
In August 2016, we completed a private placement to certain investors of 4,800,000 shares of our common stock and Series A and Series B warrants to purchase
an aggregate of 9,600,000 shares of common stock. The Series A warrants are no longer exercisable as of August 2017. As of November 3, 2017, we had outstanding Series B warrants to purchase 3,918,175 shares of our common stock at an exercise
price of $1.55 per share. The exercise price is subject to proportional adjustment upon the subdivision or combination of shares of the common stock (by any stock split, stock dividend, recapitalization, reverse stock split, or otherwise), but the
exercise price cannot be reduced below the par value of the common stock. The Series B warrants are exercisable at any time, in whole or in part, until August 19, 2021.
Registration Rights
On October 20, 2017, we entered
into the Registration Rights Agreement with Lincoln Park pursuant to which we agreed to file with the SEC one or more registration statements as necessary to register for sale under the Securities Act shares of common stock that we issued or may
issue to Lincoln Park under the Purchase Agreement. We are registering 7,842,096 of such shares of common stock for resale pursuant to the registration statement of which this prospectus is a part as required by the Registration Rights
Agreement.
In August 2016, we entered into a securities purchase agreement, or the Securities Purchase Agreement, in connection with a private placement,
pursuant to which we granted certain investors certain registration rights with respect to the shares purchased as well as the shares issuable upon exercise of the warrants. In particular, the Securities Purchase Agreement required us to file a
registration statement with the SEC to register the sale of such shares within 30 days of the consummation of the private placement and to maintain continuous effectiveness of the registration statement. A registration statement relating to such
shares was filed on September 9, 2016 and declared effective by the SEC on September 23, 2016.
On June 23, 2015, we issued a warrant, or
the Warrant, to Hercules to purchase 40,705 shares of the Companys common stock at an exercise price of $7.37 per share. Pursuant to the Warrant, we agreed, among other things, that we would file with the SEC a registration statement to
register the sale of the shares issuable upon exercise of the Warrant within 30 days of the Company becoming eligible to use a Form
S-3
registration statement to register such shares. A registration statement
relating to such shares was filed on September 9, 2016 and declared effective by the SEC on September 23, 2016.
Anti-Takeover Effects of
Provisions of Delaware Law and Our Charter and
By-laws
Provisions of Delaware law and our amended and restated
certificate of incorporation and amended and restated bylaws could make it more difficult to acquire us by means of a tender offer, a proxy contest, open market purchases, removal of incumbent directors and otherwise. These provisions, summarized
below, are expected to discourage types of coercive takeover practices and inadequate takeover bids and to encourage persons seeking to
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