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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events  
Subsequent Events

(11) Subsequent Events

On July 1, 2024 the Company entered into a Consulting Agreement (the “2024 Consulting Agreement”), pursuant to which Mark White, a director of the Company, agreed to serve as a consultant to the Company. Pursuant to the 2024 Consulting Agreement, Mr. White will be paid an hourly consulting rate, payable monthly. Additionally, Mr. White received an award of 20,000 non-qualified stock options. The grant price for the options was $5.27 per share, the closing price on the date of grant. The stock options awarded under the 2024 Consulting Agreement will vest in quarterly increments during the term of his consulting agreement, which terminates on December 31, 2024. Vesting is dependent on Mr. White’s continued service over that period.

Between July 2, 2024 and July 9, 2024, 831,667 of the Company’s Canaccord warrants were exercised at $9.00 per share. The exercises resulted in gross proceeds of $7.5 million. Warrant commissions payable to Canaccord for these exercises totaled $0.4 million.

Subsequent to June 30, 2024, 300,000 shares of common stock were sold under the ELOC through August 6, 2024, for net proceeds of $2.8 million.