The changes in issued and outstanding common stock for the nine
months ended September 30, 2016 were as follows:
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|
|
|
|
|
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Shares |
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Balance at January 1, 2016
|
|
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15,964,503 |
|
Shares issued for stock-based compensation
|
|
|
311,627 |
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Shares issued in public offering (1)
|
|
|
3,191,250 |
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Shares issued in private placement offering (2)
|
|
|
172,413 |
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Shares issued for contingent consideration and acquisition
|
|
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1,203,821 |
|
|
|
|
|
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Balance at September 30, 2016
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|
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20,843,614 |
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|
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(1) |
During the second quarter of 2016, we
completed an underwritten public offering of our common stock at an
offering price of $5.25 per share. Net proceeds of the offering
were $15.2 million, which were used to fund the cash portion of the
TNT acquisition (see Note 2), to pay down bank debt and for general
corporate purposes. |
(2) |
During the second quarter of 2016, we
sold shares for $1.0 million in a private placement to one of our
distributors. Net proceeds were used for general corporate
purposes. |
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