Public Warrant Tender Offerings |
6 Months Ended | |
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Nov. 30, 2019 | ||
Public Warrant Tender Offerings [Abstract] | ||
Public Warrant Tender Offerings |
Note 10 – Public Warrant Tender Offerings During the
six months ended November 30 , 2019, the Company conducted two public warrant tender offers, in which accredited investors purchased unregistered common stock at either $0.30 or $0.40 per share. Pursuant to the offering, the Company sold a total of 45,375,923 shares of common stock, $0.001 par value, for aggregate gross proceeds of approximately $11.9 million. The Company paid placement agent fees of approximately $1.1 million for services in connection with the offering. The Company also recorded a non-cash inducement interest expense of approximately $2.4 million in connection with the offerings. |
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- References No definition available.
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- Definition Public warrant tender offerings text block. No definition available.
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