EQUITY |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Equity [Abstract] | |
| EQUITY | 5. EQUITY
Issuance of Common Stock and Warrants
In April 2023, the Company entered into securities purchase agreements providing for the issuance and sale by the Company of (i) shares of the Company’s common stock (the “April 2023 Shares”) at a price of $ per share and (ii) warrants to purchase up to an additional 2,733,333 shares of the Company’s common stock at a price of $ per share (the “April 2023 Warrants”). The April 2023 Warrants expire on April 11, 2028. The aggregate proceeds to the Company from the sale of the April 2023 Shares and April 2023 Warrants were approximately $.
In August 2023, the Company entered into a securities purchase agreement providing for the issuance and sale by the Company of shares of the Company’s common stock (the “August 2023 Shares”) at a price of $ per share. After deducting for fees and expenses, the aggregate net proceeds from the sale of the August 2023 Shares were approximately $.
In October 2023, the Company entered into warrant exchange agreements with certain holders of warrants to exchange warrants to purchase a total of 21,733,334 shares of the Company’s common stock for an aggregate of shares of the Company’s common stock. The warrants that were exchanged were extinguished.
In December 2023, the Company entered into securities purchase agreements providing for the issuance and sale by the Company of shares of the Company’s common stock (the “December 2023 Shares”) at a price of $ per share. The aggregate proceeds from the sale of the December 2023 Shares were approximately $.
In June 2024, the Company entered into securities purchase agreement providing for the issuance and sale by the Company of shares of the Company’s common stock (the “June 2024 Shares”) at a price of $ per share. The aggregate proceeds from the sale of the June 2024 Shares were approximately $.
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