Quarterly report [Sections 13 or 15(d)]

WARRANTS

v3.26.1
WARRANTS
3 Months Ended
Mar. 31, 2026
Warrants  
WARRANTS

Note 14. WARRANTS

 

The Company’s outstanding Common Stock warrants are equity classified. As of March 31, 2026, and December 31, 2025, the Company had 1,348,494 warrants outstanding to purchase one share of the Company’s Common Stock for each warrant at a weighted average exercise price of $28.44 and expire at various dates through August 2030. During the three months ended March 31, 2026, no warrants were exercised compared to the three months ended March 31, 2025, a total number of 81,280 warrants were exercised into an equivalent number of shares of Common Stock.

 

As of March 31, 2026, there were tradeable warrants to purchase up to an aggregate of 53,375 shares of Common Stock outstanding and non-tradeable warrants to purchase an aggregate of up to 90,149 shares of Common Stock outstanding.

 

   

Number of

warrants

issued

   

Weighted-

average

exercise price

   

Number of

warrants exercised

   

Number of

warrants outstanding

 
Pre-IPO convertible notes     96,616     $ 159.35             96,616  
IPO tradeable     77,561       91.95       (24,186 )     53,375  
IPO non-tradeable     100,515       91.95       (10,366 )     90,149  
Direct offering March 8, 2024     53,330       37.50       (35,553 )     17,777  
Placement agent direct offering March 8, 2024     1,066       49.20             1,066  
Inducement/direct offering August 5, 2024     58,402             (58,402 )      
Placement agent direct offering August 5, 2024     1,659       45.00             1,659  
Direct offering October 21, 2024     88,757       23.92       (59,544 )     29,213  
Warrant inducement February 25, 2025     97,538       25.50             97,538  
Public offering May 7, 2025     1,470,673       4.50       (781,262 )     689,411  
PIPE/Inducement offering August 13, 2025     271,490       10.56             271,490  
                                 
Balance at March 31, 2026     2,317,607     $ 28.44       (969,313 )     1,348,294