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| Stockholders' Equity |
Note 11. Stockholders’ Equity ATM Program and Offerings On May 8, 2020, the Company entered into an ATM Equity OfferingSM Sales Agreement with BofA Securities, Inc. and Piper & Sandler & Co. pursuant to which the Company may sell from time to time shares of its common stock having an aggregate offering price of up to $50,000,000 (the “ATM Program”). During the three months ended September 30, 2020, the Company sold a total of 416,221 shares of its common stock at a price to the public of an average of $8.09 per share through the ATM Program for aggregate gross proceeds of approximately $3.4 million, before deducting compensation paid to the sales agents and other offering expenses payable by the company of approximately $0.1 million. During the three months ended December 31, 2020, the Company sold a total of 2,296,023 shares of its common stock at a price to the public of an average of $8.93 per share through the ATM Program for aggregate gross proceeds of approximately $20.5 million, before deducting compensation paid to the sales agents and other offering expenses payable by the company of approximately $0.4 million. Equity Incentive Plans During the six months ended December 31, 2020, the Company granted employees options to purchase an aggregate of 415,554 shares of common stock with a weighted average grant date fair value of $4.46. The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following assumptions:
During the six months ended December 31, 2020 the Company awarded certain employees and directors grants of an aggregate of 634,061 restricted stock units (“RSUs”) with a weighted average grant date fair value of $8.25. The RSUs will be expensed over the requisite service period. The terms of the RSUs include vesting provisions based solely on continued service. If the service criteria are satisfied, the RSUs will generally vest over 4 – 5 years. Compensation expense related to our stock-based awards described above was as follows (in thousands):
Unrecognized stock-based compensation expense and weighted-average years to be recognized are as follows (in thousands):
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