Stockholders' Equity |
6 Months Ended |
|---|---|
Apr. 30, 2025 | |
| Stockholders' Equity | |
| Stockholders' Equity | Note 12. Stockholders’ Equity 2022 Open Market Sale Agreement and Amended Sales Agreement On July 12, 2022, the Company entered into an Open Market Sale Agreement (the “2022 Sales Agreement”) with Jefferies LLC, B. Riley Securities, Inc., Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Inc., Canaccord Genuity LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Loop Capital Markets LLC (each, an “Agent” and together, the “Agents”) with respect to an at the market offering program under which the Company could, from time to time, offer and sell up to 3.2 million shares of the Company’s common stock. Pursuant to the 2022 Sales Agreement, the Company paid each Agent a commission equal to 2.0% of the gross proceeds from each sale of shares made by such Agent under the 2022 Sales Agreement. On April 10, 2024, the Company and the Agents entered into Amendment No. 1 to the 2022 Sales Agreement (as amended, the “Amended Sales Agreement”), with respect to an at the market offering program under which the Company may, from time to time, offer and sell shares of the Company’s common stock having an aggregate offering price of up to $300.0 million (exclusive of any amounts previously sold under the 2022 Sales Agreement prior to its amendment). On December 27, 2024, the Company entered into Amendment No. 2 to the Amended Sales Agreement, which removed certain representations and warranties relating to the Company’s status as a well-known seasoned issuer. Pursuant to the Amended Sales Agreement, the Company is required to pay and has paid each Agent a commission equal to 2.0% of the gross proceeds from each sale of shares made by such Agent under the Amended Sales Agreement. During the three months ended April 30, 2025, approximately 1.6 million shares of the Company’s common stock were sold under the Amended Sales Agreement at an average sale price of $5.00 per share, resulting in gross proceeds of approximately $8.1 million before deducting sales commissions and fees, and net proceeds to the Company of approximately $7.7 million after deducting sales commissions totaling approximately $0.2 million and fees totaling approximately $0.2 million. During the six months ended April 30, 2025, approximately 2.3 million shares of the Company’s common stock were sold under the Amended Sales Agreement at an average sale price of $6.25 per share, resulting in gross proceeds of approximately $14.5 million before deducting sales commissions and fees, and net proceeds to the Company of approximately $13.6 million after deducting sales commissions totaling approximately $0.3 million and fees totaling approximately $0.6 million. As of April 30, 2025, approximately $190.4 million of shares remained available for sale under the Amended Sales Agreement. |