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 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. Of this amount, approximately was received and the related Common Stock was issued during the quarter of The remaining million was received and the related Common Stock was issued during the quarter of

 

On the Company entered into a Common Stock Purchase Agreement with 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. As of the date of filing of this Quarterly Report on Form -Q, has been received under the Common Stock Purchase Agreement. 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 a Series D Preferred Stock Purchase Agreement with Keystone pursuant to which the Company agreed to issue to Keystone shares of 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. The Series D Preferred Stock will be convertible into a maximum of shares of Common Stock.

 

Of the million, approximately million was received and the related shares of Series D Preferred Stock were issued through These shares were subsequently converted into shares of Common Stock through Of the million received as of approximately million was received during the quarter of million of which was received prior to the filing of our Annual Report on Form -K for the year ended In accordance with current accounting guidance, this million was included in stock subscriptions receivable in the consolidated balance sheet as of An additional 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 Quarterly Report on Form -Q. 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 Quarterly Report on Form -Q. In accordance with current accounting guidance, 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

 

On the Company entered into a Series E Preferred Stock Purchase Agreement with an existing accredited investor, John K. Scott, Jr. pursuant to which the Company issued to Mr. Scott in a private placement transaction shares of Series E Preferred Stock for an aggregate purchase price of million.

 

Under the Series E Preferred Stock Purchase Agreement, Mr. Scott was granted a right of offer with respect to future issuances of Company securities (the “Right of First Offer”); provided, however, that in event shall Mr. Scott have such right if the acquisition of any of such securities would result in Mr. Scott beneficially holding more than of the Company's outstanding Common Stock on an as-converted basis, as determined in accordance with Section (d) of the Securities Exchange Act of as amended (the “Exchange Act”), and the rules thereunder (the “Share Cap”). In the event that Mr. Scott does exercise the Right of First Offer, the Company will then be entitled to offer and sell the new securities to any party at a price less than, and upon terms more favorable to the offeree than, those offered to Mr. Scott (a “Third Party Offering”). Pursuant to the Series E Preferred Stock Purchase Agreement, Mr. Scott also has the option to purchase up to of the new securities offered in a Third-Party Offering at the same price and upon the terms available to the other purchaser(s) (the “Preemptive Right”); provided, however, that in event Mr. Scott acquire new Company securities in a Third-Party Offering to the extent the acquisition thereof would violate the Share Cap. The Right of First Offer and the Preemptive Right will expire upon the earlier of (i) or (ii) upon the voluntary or involuntary liquidation, dissolution, or winding up of the Company.

 

In connection with the private placement, the Company entered into a registration rights agreement (the “Registration Rights Agreement”), pursuant to which, among other things, the Company will prepare and file with the Securities and Exchange Commission (the “SEC”) or more registration statements to register for resale the maximum number of Conversion Shares (as defined below) issuable upon conversion of the Series E Preferred Stock. In the event that both (i) the number of shares of Common Stock beneficially held by Mr. Scott falls below of the outstanding Common Stock on an as-converted basis, as determined in accordance with Section (d) of the Exchange Act and the rules thereunder, and (ii) Mr. Scott is an affiliate (as that term is defined under Rule ) at the time of the Reload Request (as defined below), the Company, upon written request from Mr. Scott (the “Reload Request”), will be required prepare and file with the SEC one, and only one, additional registration statement covering the resale of those shares of Common Stock owned by Mr. Scott as of the date of the Reload Request that, as of such time, are registered for resale under the Securities Act of as amended (the “Securities Act”). The securities issued in the offering have been registered under the Securities Act, and until so registered the securities be offered or sold absent registration or availability of an applicable exemption from registration.

 

Except with respect to transactions which adversely affect any right, preference, privilege or voting power of the Series E Preferred Stock, the Series E Preferred Stock has voting rights. Whenever the Company's Board of Directors declares a dividend on Common Stock, each record holder of a share of Series E Preferred Stock on the record date set by the Board of Directors will be entitled to receive an amount equal to such dividend declared on share of Common Stock multiplied by the number of shares of Common Stock (the “Series E Conversion Shares”) into which such share of Series E Preferred Stock could be converted on the record date, without regard to any conversion limitations in the Series E Preferred Certificate of Designation of Preferences, Rights and Limitations (the “Series E Preferred Certificate”). Holders of the Series E Preferred Stock convert some or all of the Series E Preferred Stock into Series E Conversion Shares at a fixed price of per Series E Conversion Share, provided that the aggregate number of Series E Conversion Shares issued pursuant to the Series E Preferred Certificate cannot exceed the Share Cap without shareholder approval, which the Company is required to seek. The Company has the right to redeem any outstanding shares of Series E Preferred Stock at a price of per share at any time on or prior to the -year anniversary of the issuance date, payable in cash. See Note

 

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 -month period ended we issued shares of our Common Stock valued at as matching contributions to our (k) Plan.

 

During the -month period ended we issued shares of our Common Stock valued at to our employees as partial payment in lieu of cash for their bonuses.