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Warrants

12 Months Ended

Jun. 30, 2021

14. Warrants

In July 2020, the Company issued 92,302 shares of warrants with a weighted average exercise price of $15.99 per share in connection with the March Offerings. The warrants have a term of one year from the issuance date. These warrants have a fair value of value of $0.1 million and are classified within stockholders' equity.

On December 15, 2020, the Company issued 311,458 shares of warrants with an exercise price of $7.50 per share in connection with the December 15, 2020 offering. The warrants have a five-year term from the issuance date and expires on December 15, 2025. These warrants have a fair value of approximately $1.3 million and are classified within stockholders' equity.

A summary of equity-based warrants is as follows:


				Weighted
				Average
		Weighted		Remaining
	Number of	Average		Contractual
	Warrants	Exercise Price		Life in Years
Outstanding June 30, 2019	1,621,938	$	31.50	4.36
Warrants issued	4,462,740		12	—
Warrants exercised	(3,796,150)		—	—
Outstanding June 30, 2020	2,288,528	$	30.26	2.00
Warrants issued	403,760		—	—
Warrants expired	(1,437,336)		—	—
Outstanding June 30, 2021	1,254,952	$	35.85	2.83

On March 19, 2021, the remaining 1,133,920 March 19, 2020 Warrants with a weighted-average exercise price of $14.70 per share expired. There were no remaining March 19, 2020 Warrants outstanding as of June 30, 2021.

On March 11, 2021, the remaining 300,000 March 12, 2020 Warrants with a weighted-average exercise price of $12.5 per share expired. There were no remaining March 12, 2020 Warrants outstanding as of June 30, 2021.

During the year ended June 30, 2021, an additional 3,416 various other warrants expired.

As of June 30, 2021 and 2020, the Company had 24,105 liability warrants outstanding with a weighted-average exercise price of $720.0. These warrants are expected to expire on August 25, 2022.