Quarterly report pursuant to Section 13 or 15(d)

Underwritten and Registered Direct Placement of Common Stock

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Underwritten and Registered Direct Placement of Common Stock
6 Months Ended
Sep. 30, 2014
Underwritten and Registered Direct Placement of Common Stock  
Underwritten and Registered Direct Placement of Common Stock

9.  Underwritten and Registered Direct Placement of Common Stock

 

Effective May 6, 2014, the Company completed an underwritten public offering in which it sold 18.8 million shares of the Company’s common stock at a price of $1.70 per share less underwriting discounts and commissions. The shares were allocated to a single institutional investor. The net proceeds to the Company from the sale of the Common Stock, after deducting fees and other offering expenses, were approximately $29.8 million.