In the Company completed an underwritten public offering of Shares of our Common Stock pursuant to an Underwriting Agreement between the Company and the Underwriter at a price to the public of per share. Of the total Shares, shares were placed with the Investor at a price of per share. Pursuant to the Underwriting Agreement, the Underwriter purchased the remaining Shares from the Company at a price of per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriter an option (the “Underwriter Option”), exercisable for days, to purchase up to an additional shares of Common Stock at a price per share of The Underwriter Option was exercised. The Company paid the Underwriter (a) a commission equal to of the gross proceeds from the Shares sold to the Underwriter, (b) a management fee equal to of the gross proceeds raised in the offering, (c) for non-accountable expenses, (d) for fees and expenses of legal counsel to the Underwriter and other out-of-pocket expenses, and (e) for clearing expenses. After underwriting discounts, commissions, fees and expenses paid to the Underwriter, the Company received net proceeds from the offering of The Company paid an additional for legal and professional services related to this offering, which further reduced the net proceeds from the offering.

 

In the Company executed a Stock Purchase Agreement with the investors named therein. Pursuant to the Stock Purchase Agreement, the investors agreed to purchase approximately million shares of the Company's Common Stock in a private placement for aggregate gross proceeds to the Company of approximately million. Of this amount, approximately million was received during resulting in approximately of stock subscriptions receivable as of The remaining of proceeds were received and the related Common Stock was issued in In accordance with current accounting guidance, the of stock subscriptions receivable was included in prepaid and other current assets in the consolidated balance sheet at

 

In the Company executed agreements with existing investors to purchase approximately million shares of the Company's Common Stock for aggregate gross proceeds to Navidea of approximately million. The entire million was received and the related shares of Common Stock were issued during

 

On the Company entered into a Stock Purchase Agreement and Letter of Investment Intent with Keystone pursuant to which the Company agreed to issue to Keystone shares of newly-designated Series C Preferred Stock for an aggregate purchase price of million. Pursuant to the Stock Purchase Agreement, Keystone agreed to purchase shares of Series C Preferred Stock in amounts to be determined by Keystone in or more closings on or before provided that all of the Series C Preferred Stock must be purchased by such date. Holders of the Series C Preferred Stock had the option to convert some or all of the Series C Preferred Stock into shares of the Company's Common Stock at a discount to market (the “Series C Conversion Shares”), provided that the Company could issue such Series C Conversion Shares in excess of of the number of shares of Common Stock outstanding as of the date of the investment (the “Series C Exchange Cap”) without shareholder approval, which the Company was required to seek. The entire million was received and the related shares of Series C Preferred Stock were issued during In accordance with current accounting guidance, the Company recorded a deemed dividend of approximately related to the BCF of the shares of Series C Preferred Stock that were issued during the year ended See Note (p). These shares were subsequently converted into shares of Common Stock during

 

On Company entered into a binding MOU with Jubilant. The MOU outlines the terms and framework for a potential Exclusive License and Distribution Agreement for Navidea's -Tilmanocept Rheumatoid Arthritis diagnostic application in the United States, Canada, Mexico, and Latin America. In connection with the MOU, the Company entered into a Stock Purchase Agreement with Jubilant, pursuant to which Jubilant purchased shares of Common Stock for gross proceeds of million in exchange for exclusivity of negotiations while due diligence efforts are completed. The investment was priced “at market,” which was the closing price of Navidea's Common Stock on the NYSE American on the trading day immediately preceding the investment. See Note

 

On the Company entered into a Common Stock Purchase Agreement with each of the Investors named therein, pursuant to which the Investors agreed to purchase from the Company, up to million in shares of the Company's Common Stock. The initial closing of the sale and purchase of the Common Stock (the “Initial Closing”) must occur within () business days after the date on which the NYSE American approved the Company's listing application for the Common Stock. The Investors have agreed to purchase an aggregate of shares of Common Stock at the Initial Closing, at a purchase price of per share. Subsequent closings of the sale and purchase of the Common Stock (each a “Subsequent Closing”) will occur from time to time after the Initial Closing on such dates and times as agreed upon by the Company and the Investors, but in any event later than () business days after the Initial Closing; provided that the closing price of the Common Stock on the NYSE American exchange shall have closed at or above for consecutive trading days. The Investors will purchase the Common Stock at such Subsequent Closing at a price per share equal to market value within the meaning of Section of the NYSE American Company Guide; provided that in event shall the Investors be obligated to purchase Common Stock at a Subsequent Closing at a price greater than per share. The Company has the right to terminate the Common Stock Purchase Agreement upon written notice to the Investors if (a) the Initial Closing has occurred within () days of the date of the agreement or (b) if the Investors have purchased an aggregate of million in Common Stock as of the date that is () business days after the Initial Closing. Notwithstanding the foregoing, Investor is obligated to purchase any Common Stock if such shares proposed to be purchased, when aggregated with all other shares of Common Stock then owned beneficially by such Investor and its affiliates, would result in the beneficial ownership by such Investor and its affiliates of more than of the then issued and outstanding shares of Common Stock. One of the Company's existing investors, John K. Scott, Jr., is a party to the Common Stock Purchase Agreement and agreed to purchase of Common Stock, which amount was received and the related shares of Common Stock were issued during In accordance with current accounting guidance, the remaining million of stock subscriptions receivable was included in common stock subscriptions receivable in the consolidated balance sheet as of See Note

 

On the Company entered into the Series D Preferred Stock Purchase Agreement with Keystone pursuant to which the Company agreed to issue to Keystone shares of newly-designated Series D Preferred Stock for an aggregate purchase price of million. Pursuant to the Series D Preferred Stock Purchase Agreement, Keystone will purchase Series D Preferred Stock in amounts to be determined by Keystone in or more closings during the -month period following the date on which the prospectus supplement to register the underlying Common Stock was filed with the SEC, provided that all of the Series D Preferred Stock must be purchased by such date. Holders of the Series D Preferred Stock will have the option to convert some or all of the Series D Preferred Stock into shares of the Company's Common Stock at a discount to market (the “Series D Conversion Shares”), provided that the Company issue such Series D Conversion Shares in excess of of the number of shares of Company common stock outstanding as of the date of the investment without shareholder approval, which the Company is required to seek.

 

In the event of the liquidation or dissolution of the Company, after payment of the debts and other liabilities of the Company, the holders of Series D Preferred Stock then outstanding shall be entitled to receive, out of the assets of the Company and before any payment be made to the holders of Common Stock or any other junior stock, an amount per share of Series D Preferred Stock calculated by taking the total amount available for distribution to holders of all outstanding Common Stock before deduction of any preference payments for the Series D Preferred Stock, divided by the total of () all of the then outstanding shares of Common Stock plus (y) all of the shares of Common Stock into which the outstanding shares of Series D Preferred Stock can be converted, and then (z) multiplying the sum so obtained by the number of shares of Common Stock into which such share of Series D Preferred Stock could then be converted.

 

Of the million, approximately million was received and the related shares of Series D Preferred Stock were issued during The Company recorded a deemed dividend of approximately related to the BCF of the shares of Series D Preferred Stock that were issued during See Note (p). These shares were subsequently converted into shares of Common Stock during An additional million was received and the related shares of Series D Preferred Stock were issued during the period beginning on and ending on the date of filing of this Annual Report on Form -K. These shares of Series D Preferred Stock were subsequently converted into shares of Common Stock during the period beginning on and ending on the date of filing of this Annual Report on Form -K. In accordance with current accounting guidance, million of stock subscriptions receivable was included in stock subscriptions and other receivables, and approximately million was included in preferred stock subscriptions receivable in the consolidated balance sheet as of See Notes and (a).

 

Navidea intends to use the net proceeds from these transactions to fund its research and development programs, including continued advancement of its Phase and Phase clinical trials of tilmanocept in patients with rheumatoid arthritis, and for general working capital purposes and other operating expenses. See Note

 

During the year ended we issued shares of our Common Stock valued at to our full-time employees as partial payment in lieu of cash for their bonuses. such stock bonus payments were made during the year ended

 

During the years ended and we issued and shares of Common Stock as matching contributions to our (k) Plan which were valued at and respectively.

 

 

As of there are approximately outstanding warrants to purchase Common Stock. The warrants are exercisable at prices ranging from to per share with a weighted average exercise price per share of The warrants have remaining outstanding terms ranging from to years.

 

The following table summarizes information about our outstanding warrants as of

 

		Exercise Price				Number of Warrants			Expiration Date
Series HH		$	49.80				15,060		6/25/2023
Series KK			38.36				19,550		3/4/2021
Series LL			0.20				218,264		8/20/2035
Series NN			30.00				550,000		3/3/2022
Series OO			0.9375				189,000		6/13/2024
Total warrants		$	18.37	*			991,874

 

 

In addition, warrants to purchase MT Common Stock at per share expired in