| Summary of Common Stock Activity |
The following table summarizes the common stock activity for the three and six months ended June 30, 2024 and 2023, respectively.
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Balance, beginning of period |
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114,240,921 |
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101,938,376 |
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102,832,103 |
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101,804,454 |
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Issuance of common stock |
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2,367,601 |
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- |
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13,776,419 |
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133,922 |
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Balance, end of period |
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116,608,522 |
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101,938,376 |
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116,608,522 |
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101,938,376 |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following table summarizes the instruments excluded from the calculations of diluted shares outstanding because the effect of including them would have been anti-dilutive.
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Convertible Notes |
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22,250,040 |
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22,250,040 |
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22,250,040 |
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22,250,040 |
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Common Warrants |
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15,000,000 |
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- |
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15,000,000 |
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- |
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Employee stock options |
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9,230,171 |
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11,950,598 |
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9,230,171 |
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11,950,598 |
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Private Warrants |
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3,914,525 |
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3,914,525 |
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3,914,525 |
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3,914,525 |
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Restricted stock and RSUs |
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1,849,322 |
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2,295,337 |
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1,849,322 |
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2,295,337 |
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Stock appreciation rights |
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1,732,854 |
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- |
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1,732,854 |
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- |
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Pre-Funded Warrants |
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1,576,000 |
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- |
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1,576,000 |
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- |
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Senior Secured Term Loan Warrants |
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1,500,000 |
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1,500,000 |
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1,500,000 |
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1,500,000 |
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Performance stock |
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1,124,978 |
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127,770 |
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1,124,978 |
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127,770 |
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Legacy Danimer options |
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125,492 |
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125,492 |
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125,492 |
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125,492 |
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Total excluded instruments |
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58,303,382 |
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42,163,762 |
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58,303,382 |
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42,163,762 |
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