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Note 11 - Capital Structure
 6 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
11.
Capital Structure
 
The Company has
200
million shares of common stock authorized with a par value of
$0.0001
per share and
50
million shares of preferred stock authorized with a par value of
$0.0001
per share. On 
December 31, 2020
and
June 30, 2020
, Aytu had
17,882,893
 and
12,583,736
 common shares outstanding, respectively, and
zero
preferred shares outstanding, respectively.
 
Included in the common stock outstanding are
365,869
shares of restricted stock issued to executives, directors, employees, and consultants.
 
In
June 2020,
the Company initiated an at-the-market offering program, which allows the Company to sell and issue shares of our common stock from time-to-time. The company issued
430,230
shares of common stock, with total gross proceeds of
$6.8
 million before deducting underwriting discounts, commissions and other offering expenses payable by the Company of
$0.2
million through
December 31, 2020
. The Company did
not
issue any shares of common stock under the at-the-market offering program during the
three
months ended
September 30, 2020.
During the
three
months ended 
December 31, 2020,
the Company issued
352,912
shares of common stock, with total gross proceeds of approximately
$3.6
 million before deducting underwriting discounts, commissions, and other offering expenses payable by the Company of
$0.1
 million.
 
In
July 2020,
the Company paid
$1.5
million issuance cost in cash related to the
March 10,
12,
and
19
offerings (the
“March
Offerings”) and issued
92,302
warrants to purchase
92,302
shares of the Company's common stock with an weighted-average exercise price of
$15.99
to an investment bank conjunction with the
March 2020
offerings. The warrants have a term of
one
year from the issuance date. These warrants had at issuance a fair value of approximately
$356,000
and were valued using a Black-Scholes model.
 
On
December 10, 2020,
the Company entered into an exchange agreement to exchange the
$0.8
million of debt outstanding for
130,081
shares of the Company's common stock (see Note
15
).
 
    On
December 
10,
2020,
the Company entered into an underwriting agreement with H.C. Wainwright & Co., LLC (“Wainwright”) (as amended and restated, the “Underwriting Agreement”). Pursuant to the Underwriting Agreement, the Company agreed to sell, in an upsized firm commitment offering,
4,166,667
shares (the “Shares”) of the Company's common stock,
$0.0001
par value per share (the “Common Stock”), to Wainwright at an offering price to the public of
$6.00
per share, less underwriting discounts and commissions. In addition, pursuant to the Underwriting Agreement, the Company has granted Wainwright a
30
-day option to purchase up to an additional
625,000
shares of Common Stock at the same offering price to the public, less underwriting discounts and commissions. Wainwright exercised their over-allotment option in full, purchasing total common stock of 
4,791,667
 shares. In connection with the offering, the Company issued 
311,458
 underwriter warrants to purchase up
311,458
shares of common stock. The exercise price per share of the underwriter warrants is
$7.50
(equal to
125%
of the public offering price per share for the shares of common stock sold in the offering) and the underwriter warrants have a term of
five
years from the date of effectiveness of the offering. The underwriter warrants will be exercisable immediately.