Note 11. Stockholders’ Equity

Changes in stockholders’ equity

Changes in stockholders’ equity were as follows for the nine months ended July 31, 2018:

	Total Stockholders’ Equity
Balance as of October 31, 2017	$	101,256
Share-based compensation		2,309
Proceeds from common stock issuance and warrant exercises, net of fees		10,013
Common stock issued, non-employee compensation		282
Taxes paid for shares surrendered upon vesting of restricted stock awards, net of stock issued under benefit plans		(656	)
Preferred dividends – Series B		(2,400	)
Conversion of Redeemable Series C preferred stock		17,983
Other comprehensive income - foreign currency translation adjustments		(41	)
Net loss		(33,238	)
Balance as of July 31, 2018	$	95,508

At Market Issuance Sales Agreement

On June 13, 2018, the Company entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley FBR, Inc. and Oppenheimer & Co. Inc. (together, the “Agents”) to create an at the market equity program under which the Company from time to time may offer and sell shares of its common stock, par value $0.0001 per share, having an aggregate offering price of up to $50,000,000 through the Agents. Under the Sales Agreement, the Agent making the sales will be entitled to a commission in an amount equal to 3.0% of the gross proceeds from such sales. During the three months ended July 31, 2018, the Company sold 5.2 million shares of the Company’s common stock at prevailing market prices under the Sales Agreement and raised approximately $6.7 million, net of approximately $0.4 million of fees.

Authorized Common Stock

On December 14, 2017, the number of authorized shares of the Company’s common stock was increased from 125,000,000 to 225,000,000, by a vote of the holders of a majority of the outstanding shares of the Company’s common stock.

NASDAQ Marketplace Rule 5635(d)

On December 14, 2017, in accordance with NASDAQ Marketplace Rule 5635(d), the Company’s common stockholders approved the issuance of shares of the Company’s common stock exceeding 19.9% of the number of shares outstanding on September 5, 2017, upon the conversion and/or redemption of the Series C Convertible Preferred Stock issued in an underwritten offering in September 2017.

Public Offerings and Outstanding Warrants

On May 3, 2017, the Company completed an underwritten public offering of (i) 12,000,000 shares of its common stock, (ii) Series C warrants to purchase 12,000,000 shares of its common stock and (iii) Series D warrants to purchase 12,000,000 shares of its common stock. The Series C warrants have an exercise price of $1.60 per share and a term of five years. A total of 11,536 shares of common stock were issued during the first nine months of fiscal year 2018 upon exercise of Series C warrants and the Company received total proceeds of $0.02 million in connection with such exercises. The Series D warrants have an exercise price of $1.28 per share and a term of one year. A total of 2,584,174 shares of common stock were issued during the first nine months of fiscal year 2018 upon the exercise of Series D warrants and the Company received total proceeds of $3.3 million in connection with such exercises. As of July 31, 2018, all Series D warrants have been exercised.

On July 12, 2016, the Company closed on a registered public offering of securities to a single institutional investor pursuant to a placement agent agreement with J.P. Morgan Securities LLC. In conjunction with the offering, the Company issued 7,680,000 Series A Warrants, all of which remained outstanding as of July 31, 2018, with an exercise price of $5.83 per share.

The following table summarizes outstanding warrant activity during the nine months ended July 31, 2018:

	Series A Warrants		Series C Warrants			Series D Warrants
Balance as of October 31, 2017		7,680,000		11,580,900			2,584,174
Warrants exercised		—		(11,536	)		(2,584,174	)
Warrants expired		—		—			—
Balance as of July 31, 2018		7,680,000		11,569,364			—