Shareholders Equity

6 Months Ended

Jun. 30, 2022

Shareholders Equity

Shareholders' Equity

11. Shareholders’ Equity

Shareholders’ Equity for the six months ended June 30, 2022:

(in thousands, except
Share amounts)	Common		Common		Additional					Total
	Stock		Stock		Paid-in		Accumulated			Shareholders’
	Shares		Amount		Capital		Deficit			Equity
Balance at December 31, 2021		62,036,399	$	620	$	72,523	$	(49,960	)	$	23,183
Stock option expense		-		-		26		-			26
Issuance of shares – ATM, net		2,650,724		27		1,996		-			2,023
Issuance of shares - option exercises		81,750		1		19		-			20
Net loss		-		-		-		(2,205	)		(2,205	)
Balance at June 30, 2022		64,768,873	$	648	$	74,564	$	(52,165	)	$	23,047

Shareholders’ Equity for the six months ended June 30, 2021:

(in thousands, except
Share amounts)	Common		Common		Additional					Total
	Stock		Stock		Paid-in		Accumulated			Shareholders’
	Shares		Amount		Capital		Deficit			Equity
Balance at December 31, 2020		58,108,366		581	$	70,514	$	(47,593	)	$	23,502
Stock option expense		-		-		72		-			72
Issuance of shares – ATM, net		150,400		2		31		-			33
Issuance of shares - option exercises		185,000		1		82		-			83
Net loss		-		-		-		(1,196	)		(1,196	)
Balance at June 30, 2021		58,443,766	$	584	$	70,699	$	(48,789	)	$	22,494

At the Market Offering Agreement

On February 2, 2021, Solitario entered into an at-the-market offering agreement (the “ATM Agreement”) with H. C. Wainwright & Co., LLC (“Wainwright”), under which Solitario may, from time to time, issue and sell shares of Solitario’s common stock through Wainwright as sales manager in an at-the-market offering under a prospectus supplement for aggregate sales proceeds of up to $9.0 million (the “ATM Program”).  The common stock is distributed at the market prices prevailing at the time of sale. As a result, prices of the common stock sold under the ATM Program may vary as between purchasers and during the period of distribution. The ATM Agreement provides that Wainwright is entitled to compensation for its services at a commission rate of 3.0% of the gross sales price per share of common stock sold. During the six months ended June 30, 2021, Solitario recorded $144,000 as a charge to additional paid-in-capital for one-time expenses related to entering into the ATM Agreement.

During the six months ended June 30, 2022, Solitario sold an aggregate of 2,650,724 shares of common stock under the ATM Agreement at an average price of $0.79 per share for net proceeds of $2,023,000 after commissions and sale expenses. During the six months ended June 30, 2021, Solitario sold an aggregate of 150,400 shares of common stock under the ATM Program at an average price of $1.21 per share for net proceeds of $177,000 after commissions and sale expenses.