Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.19.2
Warrants
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Warrants
Warrants

On January 14, 2019, we issued 933,334 warrants to purchase common stock at $0.2475 per share. The warrants are immediately exercisable and expire on January 9, 2024. On January 31, 2019 we issued 1,065,217 warrants to purchase common stock at $0.253 per share. These warrants are immediately exercisable and expire on January 26, 2024. All of these warrants were issued in conjunction with the 2019 Offerings.

During the three and six months ended June 30, 2019, 3,675,000 warrants issued as part of the 2017 Offering expired unexercised.

The following table summarizes the warrant activity for the six months ended June 30, 2019 (in thousands, except exercise price): 
Issued With / For
Exercise
Price
 
Warrants
Outstanding
January 1,
2019
 
2019 Warrants Issued
 
2019 Warrants Expired
 
Warrants Outstanding June 30, 2019
Non-Derivative Warrants:
 
 
 
 
 
 
 
 
 
Financing
$
10.00

  
243

 

 

 
243

Financing
15.00

  
276

 

 

 
276

2015 Offering
5.00

  
3,450

 

 

 
3,450

2017 Debt
0.92


443

 

 

 
443

2019 Offering
0.2475

 

 
933

 

 
933

2019 Offering
0.253

 

 
1,065

 

 
1,065

Total non-derivative warrants
3.86

B
4,412

 
1,998

 

 
6,410

Derivative Warrants:
 
 
 
 
 
 
 
 
 
2016 Offerings
2.25

A
1,968

 

 

 
1,968

2017 Offering
2.35

A
3,500

 

 
(3,500
)
 

2017 Offering
2.50

A
175

 

 
(175
)
 

Total derivative warrants
2.25

B
5,643

 

 
(3,675
)
 
1,968

Total
$
3.48

B
10,055

 
1,998

 
(3,675
)
 
8,378


A
These warrants are subject to fair value accounting and contain a contingent net cash settlement feature. See Note 12.
B
Weighted-average exercise prices are as of June 30, 2019.