LIQUIDITY AND MANAGEMENT PLANS |
6 Months Ended | ||
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Jun. 30, 2025 | |||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
| LIQUIDITY AND MANAGEMENT PLANS |
At June 30, 2025, the Company had cash and cash equivalents of approximately $22.0 million and working capital of approximately $20.0 million. The Company has generated only limited revenues since inception and has incurred recurring operating losses. Accordingly, it is subject to all the risks inherent in the initial organization, financing, expenditures, and scaling of a new business that is not generating positive cashflow.
On May 31, 2022, Atomera entered into an Equity Distribution Agreement with Oppenheimer & Co. Inc. and Craig-Hallum Capital Group LLC (“Craig-Hallum”), as agents, under which the Company offered and sold, from time to time at its sole discretion, shares of its $0.001 par value common stock in an at the market offering to or through the agents, having aggregate offering proceeds of up to $50.0 million (the “2022 ATM”). The 2022 ATM Facility expired on March 18, 2025.
On May 27, 2025, Atomera entered into an Equity Distribution Agreement with Craig-Hallum as agent, under which the Company may offer and sell, from time to time at its sole discretion, shares of its $ par value common stock in an at-the-market offering to or through the agent, having aggregate offering proceeds of up to $50.0 million (the “2025 ATM”). During the three months ended June 30, 2025 the Company sold approximately shares of common stock pursuant to 2025 ATM at an average price per share of approximately $ resulting in approximately $792,000 in net proceeds to the Company after deducting commissions and other offering expenses.
During the six months ended June 30, 2025, the Company sold approximately shares pursuant to the 2022 ATM and the 2025 ATM at an average price per share of approximately $, resulting in approximately $3.2 million of net proceeds to the Company after deducting commissions and other offering expenses.
Based on the funds it has available as of the date of the filing of this report, the Company believes that it has sufficient capital to fund its current business plans and obligations over, at least, 12 months from the date that these financial statements have been issued. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its technology, competing technological and market developments, and the need to enter into collaborations with other companies or acquire technologies to enhance or complement its current offerings.
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