| Summary of Common Stock Activity |
The following table summarizes the common stock activity for the three and nine months ended September 30, 2024 and 2023, respectively.
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Three Months Ended September 30, |
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Nine Months Ended September 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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116,608,522 |
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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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4,163,118 |
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96,891 |
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17,939,537 |
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230,813 |
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Balance, end of period |
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120,771,640 |
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102,035,267 |
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120,771,640 |
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102,035,267 |
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On July 9, 2024, at the Annual Meeting of Stockholders, our stockholders approved an amendment and restatement of our certificate of incorporation to increase the number of authorized shares of our common stock from 200,000,000 shares to 600,000,000 shares, which remains unchanged after the reverse stock split. Please see Note 15 - Subsequent Events for further detail regarding the reverse stock split.
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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 September 30, |
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Nine Months Ended September 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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Dividend Warrants |
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45,128,594 |
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- |
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45,128,594 |
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- |
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Convertible Notes |
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21,496,042 |
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22,250,040 |
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21,496,042 |
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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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9,219,006 |
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11,900,448 |
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9,219,006 |
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11,900,448 |
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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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2,655,281 |
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2,295,337 |
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2,655,281 |
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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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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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101,896,772 |
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42,113,612 |
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101,896,772 |
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42,113,612 |
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