SUBSEQUENT EVENTS |
3 Months Ended | ||
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Mar. 31, 2023 | |||
| Subsequent Events [Abstract] | |||
| SUBSEQUENT EVENTS |
Management has evaluated subsequent events and transactions through the date these financial statements were issued.
Since March 31, 2023 the Company has issued an additional 82,322 shares through its ATM offering at an average price per share of $5.73 resulting in additional net proceeds of approximately $458,000.
On April 17, 2023 the Company amended the lease agreement related to its office space in Tempe, Arizona to add 404 square feet to its existing office lease effective on May 1, 2023 through February 28, 2026 (coterminous with the current Tempe lease) and will bring the total leased office space in Tempe to 878 square feet.
License Agreement. On April 26, 2023, the Company announced the execution of a commercial license agreement with STMicroelectronics (“ST”). This agreement enables ST to install the Company’s Mears Silicon Technology™, or MST®, in its facilities and authorizes ST to manufacture and distribute MST-enabled products to its customers. The license agreement with ST provides for license fees payable upon reaching milestones consistent with Atomera’s standard business model. After those milestones are reached, ST will pay a royalty to Atomera based on the number of MST-enabled products manufactured for commercial purposes.
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