Quarterly report [Sections 13 or 15(d)]

Subsequent Events

v3.25.1
Subsequent Events
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 12 – SUBSEQUENT EVENTS

 

A. On April 14, 2025, the Board of Directors approved the grant of 1,210,114 options to 37 employees, three senior officers and seven directors under the Company’s 2019 Omnibus Long-Term Incentive Plan (the “2019 Plan”), without consideration. Options were granted at an exercise price of $0.54 per share with a vesting period of four years. Directors and senior officers are entitled to full acceleration of their unvested options upon the occurrence of both a change in control of the Company and the end of their engagement with the Company.

 

B.

On April 14, 2025, the Company granted 274,890 restricted stock units (“RSUs”) to three senior officers. The RSUs were fully vested upon issuance and are not subject to continued service with the Company. Each RSU’s fair value is the Company’s stock closing price as of the grant date, which was $0.54.
     
C. On April 21, 2025, the Company’s stockholders approved the exercise of the Common Warrants and the Inducement Warrants into shares of Common Stock of the Company, in accordance with Section 713 of the NYSE American LLC Listed Company Guide, previously issued in February 2025 SPA and under the Inducement Letter Agreements.
     
D.

From April 1, 2025 through May 11, 2025, 402,008 Private Pre-Funded Warrants were exercised into 402,008 shares of Common Stock at an exercise price of $0.0001 and 533,453 Private Pre-Funded Warrants were exercised into 533,360 shares of Common Stock through cashless mechanism with no consideration.
     
  E. On May 12, 2025, the Company received the final fee of NIS 1,825 (approximately $515) from the IIA in connection with the application approved in March 2022, as described in Note 6B.