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Stockholders' Equity and Warrant Liabilities
 3 Months Ended
Jan. 31, 2022
Stockholders' Equity and Warrant Liabilities  
Stockholders' Equity and Warrant Liabilities

Note 13. Stockholders’ Equity and Warrant Liabilities

Open Market Sale Agreement

On June 11, 2021, the Company entered into an Open Market Sale Agreement with Jefferies LLC and Barclays Capital Inc. (the “Agents”) with respect to an at the market offering program under which the Company may, from time to time, offer and sell shares of the Company’s common stock having an aggregate offering price of up to $500 million. Pursuant to the Open Market Sale Agreement, the Company paid the Agent making each sale a commission equal to 2.0% of the aggregate gross proceeds it received from such sale by such Agent of shares under the Open Market Sale Agreement. From the date of the Open Market Sale Agreement through October 31, 2021, approximately 44.1 million shares were sold under the Open Market Sale Agreement at an average sales price of $8.56 per share, resulting in gross proceeds of $377.2 million, before deducting expenses and sales commissions. Net proceeds to the Company totaled approximately $369.7 million after deducting commissions and offering expenses totaling approximately $7.5 million.

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As of January 31, 2022, the remaining availability under the Open Market Sale Agreement totaled $122.8 million. There were no sales under the Open Market Sale Agreement during the quarter ended January 31, 2022.

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Outstanding Warrants

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The following table summarizes outstanding warrant activity during the three months ended January 31, 2022:

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Series C Warrants

    

Balance as of October 31, 2021

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950,102

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Warrants issued

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—

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Warrants exercised

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—

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Balance as of January 31, 2022

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950,102

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The Series C warrants, which were issued in May 2017, have an exercise price of $19.20 per share and a term of five years. The Series C warrants contain provisions regarding adjustments to their exercise price and the number of shares of common stock issuable upon exercise.