6. STOCKHOLDERS' EQUITY

9 Months Ended

Jan. 31, 2019

Equity [Abstract]

STOCKHOLDERS' EQUITY

6.       STOCKHOLDERS’ EQUITY

Series E Preferred Stock Dividend

The following table summarizes the 10.50% Series E Convertible Preferred Stock (the “Series E Preferred Stock”) quarterly dividend activity during the nine months ended January 31, 2019:

Declaration Date	Record Date	Payment Date	Dividends Paid		Dividend Per Share
6/6/2018	6/18/2018	7/2/2018	$	1,081	$	0.65625
9/5/2018	9/17/2018	10/1/2018	$	1,081	$	0.65625
12/5/18	12/17/2018	1/2/2019	$	1,081	$	0.65625

Shares of Common Stock Authorized and Reserved for Future Issuance

On October 4, 2018, our stockholders approved an amendment to our Certificate of Incorporation to decrease our authorized number of shares of common stock from 500,000,000 shares to 150,000,000 shares (the “Certificate of Amendment”). The Certificate of Amendment became effective upon filing with the Secretary of State of the State of Delaware on October 4, 2018.

As of January 31, 2019, 56,072,291 shares of our common stock were issued and outstanding. In addition, our common stock outstanding as of January 31, 2019 excluded the following shares of our common stock reserved for future issuance:

· 7,294,508 shares of common stock reserved for issuance under outstanding option grants and RSUs, and available for issuance under our stock incentive plans;

· 1,231,699 shares of common stock reserved for and available for issuance under our Employee Stock Purchase Plan; and

· 6,826,435 shares of common stock issuable upon conversion of our outstanding Series E Preferred Stock ⁽¹⁾.

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⁽¹⁾ The Series E Preferred Stock is convertible into a number of shares of our common stock determined by dividing the liquidation preference of $25.00 per share by the conversion price, currently $21.00 per share. If all of our outstanding shares of Series E Preferred Stock were converted at the $21.00 per share conversion price, the holders of our Series E Preferred Stock would receive an aggregate of 1,961,619 shares of our common stock. However, we have reserved the maximum number of shares of our common stock that could be issued upon a change of control event assuming our shares of common stock are acquired for consideration of $5.985 per share or less. In this scenario, each outstanding share of our Series E Preferred Stock could be converted into 4.18 shares of our common stock.