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Capital Structure
3 Months Ended
Sep. 30, 2021
Capital Structure  
Capital Structure

12. 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. As of September 30, 2021 and June 30, 2021, the Company had 27,771,912 and 27,490,412 common shares outstanding, respectively, and zero preferred shares outstanding, respectively.

Included in the common stock outstanding are 2,109,286 shares of restricted stock issued to executives, directors and employees.

On June 8, 2020, the Company filed a shelf registration statement on Form S-3, which was declared effective by the SEC on June 17, 2020. This shelf registration statement covered the offering, issuance and sale by the Company of up to an aggregate of $100.0 million of its common stock, preferred stock, debt securities, warrants, rights and units (the “2020 Shelf”). As of September 30, 2021, approximately $48.0 million of the Company’s common stock, preferred stock, debt securities, warrants, rights and units remained available to be sold pursuant to the 2020 Shelf.

On September 28, 2021, the Company filed a shelf registration statement on Form S-3, which was declared effective by the SEC on October 7, 2021. This shelf registration statement covered the offering, issuance and sale by the Company of up to an aggregate of $100.0 million of its common stock, preferred stock, debt securities, warrants, rights and units (the “2021 Shelf”). As of September 30, 2021, $100.0 million of the Company’s common stock, preferred stock, debt securities, warrants, rights and units remained available to be sold pursuant to the 2021 Shelf.

On June 4, 2021, the Company entered into a sales agreement with Cantor Fitzgerald & Co., as sales agent, to provide for the offering, issuance and sale by the Company of up to $30.0 million of its common stock from time to time in “at-the-market” offerings under the 2020 Shelf (the “Cantor ATM”). In July 2021, the Company has issued 61,500 shares of common stock under the Cantor ATM, with total gross proceeds of approximately $0.3 million before deducting underwriting discounts, commissions, and other offering expenses. As of September 30, 2021, approximately $17.0 million of the Company’s common stock remained available to be sold pursuant to the Cantor ATM.