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Subsequent Events
12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 23. Subsequent Events

The Company has reviewed and evaluated subsequent events through March 31, 2021, the date the consolidated financial statements were available to be issued.

January 2021 PIPE transaction

On January 25, 2021, the Company entered into a securities purchase agreement with certain institutional and accredited investors relating to the issuance and sale in a private placement of 7,876,784 shares of Company common stock at a purchase price of $3.1925 per share and warrants exercisable for an aggregate of 3,938,392 shares of Common Stock with an exercise price of $3.13 per Warrant Share. Subject to certain ownership limitations, the Warrants are exercisable upon issuance and will expire on the 5.5-year anniversary of the date of issuance. The Company received cash proceeds of $23.3 million, net of transaction fees. The Company also agreed to grant to Wainwright, or its designees, warrants to purchase up to 5.0% of the aggregate number of shares sold in the Private Placement (393,839 shares) for the services provided as Placement Agent in the transaction. Pursuant to the January 2021 Registration Rights Agreement, the Company filed the January 2021 Registration Statement with the SEC on February 2, 2021 for purposes of registering the sale of the shares of Common Stock issued pursuant to the January 2021 Purchase Agreement and the shares of Common Stock issuable upon exercise of the January 2021 Warrants. The SEC declared the registration statement effective on February 11, 2021.