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Subsequent Events
 3 Months Ended
Jul. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events

(17) Subsequent Events

 

On August 7, 2023, the Company entered into a Controlled Equity Offering Sales Agreement (the “2023 ATM”) with Cantor Fitzgerald & Co. (“Cantor”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor shares of its common stock. The Company can issue and sell, from time to time, shares of the Company’s common stock having an aggregate offering price of up to $13.8 million.

 

Effective September 1, 2023, the Company was awarded three separate Indefinite Delivery Indefinite Quantity (“IDIQ”) Multiple-Award Contracts from the National Oceanic and Atmospheric Administration (“NOAA”). NOAA has selected the Company as one of several Multiple Award IDIQ contract holders to provide Uncrewed Maritime Systems Services to NOAA’s Office of Marine and Aviation Operations, Uncrewed Systems Operation Center. The ultimate amount of revenue to be received by the Company under these contracts is not known at this time. The ordering period is set to span three years, commencing on September 1, 2023, and concluding on August 31, 2026.