Note 7 Stockholders Equity, continued
Filing of Registration Statement
Pursuant to a shelf registration statement on Form
S-3
filed on April 24, 2015, in January 2018,
the Company raised $38,846,815 (net of $1,153,715 in underwriters discount and issuance costs) from the sale of stock in an
at-the-market
equity
offering of its common stock.
On August 9, 2018, the Company filed a shelf registration statement on Form
S-3,
which became effective on August 17, 2018. This shelf registration statement allows the Company to sell, from time to time, any combination of debt or equity securities described in the registration
statement up to aggregate proceeds of $75,000,000.
Private Placements
On June 28, 2017, the Company and Dialog Semiconductor, a related party (see Note 10 Related Party Transactions), entered into a
securities purchase agreement pursuant to which the Company agreed to sell Dialog 976,139 shares of common stock at a price of $15.3666 per share and a warrant to purchase up to 654,013 shares of common stock that may be exercised only on a cashless
basis at a price of $19.9766 per share, and may be exercised at any time between the date that is six months and one day after the closing date of the transaction and the three-year anniversary of the closing date. The aggregate proceeds from the
sale of these shares, which were issued on July 5, 2017, was $14,999,935.
Note 8 Stock Based Compensation
Equity Incentive Plans
2013 Equity Incentive
Plan
In December 2013, the Companys board of directors and stockholders approved the Companys 2013 Equity Incentive Plan,
providing for the issuance of equity-based instruments covering up to, as amended, a total of 4,485,967 shares of common stock.
Effective
on May 16, 2018, the Companys stockholders approved the amendment and restatement of the 2013 Equity Incentive Plan to increase the number of shares reserved for issuance thereunder by 1,600,000 shares, bringing the total number of
approved shares to 6,085,967 under the 2013 Equity Incentive Plan.
As of December 31, 2018, 1,707,485 shares of common stock remain
eligible to be issued through equity-based instruments under the 2013 Equity Incentive Plan.
2014
Non-Employee
Equity Compensation Plan
In March 2014, the Companys board of directors and stockholders approved the 2014
Non-Employee
Equity Compensation Plan for the issuance of equity-based instruments covering up to, as amended, a total of 600,000 shares of common stock to directors and other
non-employees.
Effective on May 16, 2018, the Companys shareholders approved the
amendment and restatement of the 2014 Equity Incentive Plan to increase the number of shares reserved for issuance thereunder by 250,000 shares, bringing the total number of shares to 850,000 under the 2014
Non-employee
Equity Compensation Plan.
As of December 31, 2018, 366,829 shares of common
stock remain eligible to be issued through equity-based instruments under the 2014
Non-Employee
Equity Compensation Plan.
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