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id="_af27c42d_9b39_4ca8_bc81_879074175f27"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">UNITED STATES</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">SECURITIES AND EXCHANGE COMMISSION</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">Washington, DC 20549</p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:12pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">FORM <ix:nonNumeric contextRef="Duration_5_24_2022_To_5_24_2022_Q9y1HxFKeUSCjWSIGqW1wQ" name="dei:DocumentType" 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style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:33.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:33.33%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_5_24_2022_To_5_24_2022_Q9y1HxFKeUSCjWSIGqW1wQ" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="Tc_F7C_NzMkOEG9IEltPEmkqQ_1_0">Delaware</ix:nonNumeric></p></td><td 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style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:31.72%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td 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class</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;&#160;&#160;&#160;</p></td><td style="vertical-align:bottom;white-space:nowrap;width:31.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Trading Symbol(s)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.85%;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;&#160;&#160;&#160;</p></td><td style="vertical-align:bottom;white-space:nowrap;width:32.8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New 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Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:32.8%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">None</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:12pt 0pt 12pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_5_24_2022_To_5_24_2022_Q9y1HxFKeUSCjWSIGqW1wQ" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_BcwA2DHnGEig1M32ScdhBg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-top:1pt;border-top:4.5pt double #000000;margin:12pt 0pt 0pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="display:none;line-height:0pt;margin:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:88.24%;border:0;margin:30pt 5.88% 30pt 5.88%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_994e54ce_a60f_4a9a_a80a_83db3a7e6816"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:72pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Item 3.02</span></span><span style="font-weight:normal;">Unregistered Sales of Equity Securities.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 10.4pt 0pt 5pt;">The<span style="letter-spacing:0.2pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>is<span style="letter-spacing:0.1pt;"> </span>providing<span style="letter-spacing:0.4pt;"> </span>this<span style="letter-spacing:0.2pt;"> </span>disclosure<span style="letter-spacing:0.4pt;"> </span>because,<span style="letter-spacing:0.35pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>May<span style="letter-spacing:0.2pt;"> </span>24,<span style="letter-spacing:0.15pt;"> </span>2022,<span style="letter-spacing:0.25pt;"> </span>its<span style="letter-spacing:0.15pt;"> </span>unregistered<span style="letter-spacing:0.5pt;"> </span>sales<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>equity<span style="letter-spacing:0.25pt;"> </span>securities that were not previously reported,<span style="letter-spacing:0.4pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>aggr<span style="letter-spacing:-0.05pt;">e</span>gate,<span style="letter-spacing:0.4pt;"> </span>exceeded<span style="letter-spacing:0.4pt;"> </span>1%<span style="letter-spacing:0.15pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the shares<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>its<span style="letter-spacing:0.15pt;"> </span>Common<span style="letter-spacing:0.4pt;"> </span>Stock<span style="letter-spacing:0.25pt;"> </span>outstanding<span style="letter-spacing:0.45pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>May<span style="letter-spacing:0.2pt;"> </span>23,<span style="letter-spacing:0.15pt;"> </span>2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 10.4pt 0pt 5pt;"><span style="margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:1.6pt 0pt 0pt 5pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Private</span><span style="letter-spacing:1.3pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Placement</span><span style="letter-spacing:0.75pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">of</span><span style="letter-spacing:-0.45pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Common</span><span style="letter-spacing:-0.65pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Stock</span><span style="letter-spacing:-0.8pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">and</span><span style="letter-spacing:0.65pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="letter-spacing:-0.85pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">W</span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">arrants</span><span style="letter-spacing:1.3pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">th</span><span style="letter-spacing:-0.35pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">r</span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ough</span><span style="letter-spacing:0.8pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Placement</span><span style="letter-spacing:0.6pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Agent</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:6pt;margin:0.05pt 0pt 0pt 0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 5.3pt 0pt 5pt;">As<span style="letter-spacing:0.15pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>date<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>this<span style="letter-spacing:0.2pt;"> </span>report,<span style="letter-spacing:0.3pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>has<span style="letter-spacing:0.15pt;"> </span>received<span style="letter-spacing:0.35pt;"> </span>binding<span style="letter-spacing:0.3pt;"> </span>subscription<span style="letter-spacing:0.5pt;"> </span>agreements<span style="letter-spacing:0.45pt;"> </span>for<span style="letter-spacing:0.15pt;"> </span>an<span style="letter-spacing:0.15pt;"> </span>estimated<span style="letter-spacing:0.4pt;"> </span>total<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>approximately<span style="letter-spacing:0.55pt;"> </span>34.6 million units<span style="letter-spacing:0.2pt;"> </span>from accredited<span style="letter-spacing:0.4pt;"> </span>investors<span style="letter-spacing:0.35pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>private<span style="letter-spacing:0.3pt;"> </span>o<span style="letter-spacing:-0.15pt;">f</span>fering<span style="letter-spacing:0.35pt;"> </span>(the<span style="letter-spacing:0.2pt;"> </span>&#8220;O<span style="letter-spacing:-0.15pt;">f</span>fering&#8221;)<span style="letter-spacing:0.45pt;"> </span>through<span style="letter-spacing:0.35pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>placement<span style="letter-spacing:0.4pt;"> </span>agent.<span style="letter-spacing:0.25pt;"> </span>Each<span style="letter-spacing:0.25pt;"> </span>unit<span style="letter-spacing:0.2pt;"> </span>consists<span style="letter-spacing:0.35pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>one<span style="letter-spacing:0.2pt;"> </span>share<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>Comm<span style="letter-spacing:0.05pt;">o</span>n<span style="letter-spacing:0.4pt;"> </span>Stock<span style="letter-spacing:0.25pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>three-quarters<span style="letter-spacing:0.35pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>warrant<span style="letter-spacing:0.3pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>purchase<span style="letter-spacing:0.35pt;"> </span>one<span style="letter-spacing:0.2pt;"> </span>share<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>Common<span style="letter-spacing:0.4pt;"> </span>Stock.<span style="letter-spacing:0.1pt;"> </span>The<span style="letter-spacing:0.2pt;"> </span>warrants<span style="letter-spacing:0.35pt;"> </span>will<span style="letter-spacing:0.2pt;"> </span>have<span style="letter-spacing:0.2pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>five-year<span style="letter-spacing:0.35pt;"> </span>term<span style="letter-spacing:0.2pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>will<span style="letter-spacing:0.2pt;"> </span>be<span style="letter-spacing:0.15pt;"> </span>exercisable<span style="letter-spacing:0.45pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>full<span style="letter-spacing:0.15pt;"> </span>when<span style="letter-spacing:0.25pt;"> </span>issued.<span style="letter-spacing:0.1pt;"> </span>The warrants,<span style="letter-spacing:0.4pt;"> </span>other<span style="letter-spacing:0.25pt;"> </span>than<span style="letter-spacing:0.2pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>described<span style="letter-spacing:0.4pt;"> </span>above,<span style="letter-spacing:0.3pt;"> </span>will<span style="letter-spacing:0.2pt;"> </span>be<span style="letter-spacing:0.15pt;"> </span>substantially<span style="letter-spacing:0.5pt;"> </span>similar<span style="letter-spacing:0.3pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>form<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>warrant<span style="letter-spacing:0.3pt;"> </span>filed<span style="letter-spacing:0.2pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>Exhibit<span style="letter-spacing:0.3pt;"> </span>4.1<span style="letter-spacing:0.15pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Comp<span style="letter-spacing:0.05pt;">a</span>ny<span style="letter-spacing:-0.5pt;">&#8217;</span>s<span style="letter-spacing:0.45pt;"> </span>Current<span style="letter-spacing:0.3pt;"> </span>Report on<span style="letter-spacing:0.15pt;"> </span>Form<span style="letter-spacing:0.25pt;"> </span>8-K<span style="letter-spacing:0.2pt;"> </span>filed<span style="letter-spacing:0.2pt;"> </span>with<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>SEC<span style="letter-spacing:0.2pt;"> </span>on<span style="letter-spacing:0.15pt;"> </span>September<span style="letter-spacing:0.45pt;"> </span>7,<span style="letter-spacing:0.1pt;"> </span>2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11pt;margin:0.55pt 0pt 0pt 0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 6.1pt 0pt 5pt;">The<span style="letter-spacing:0.2pt;"> </span>aggregate<span style="letter-spacing:0.4pt;"> </span>gross<span style="letter-spacing:0.25pt;"> </span>proceeds<span style="letter-spacing:0.35pt;"> </span>received<span style="letter-spacing:0.35pt;"> </span>under<span style="letter-spacing:0.25pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>executed<span style="letter-spacing:0.35pt;"> </span>subscription<span style="letter-spacing:0.5pt;"> </span>agreements<span style="letter-spacing:0.45pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>date<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>this<span style="letter-spacing:0.2pt;"> </span>report<span style="letter-spacing:0.25pt;"> </span>are<span style="letter-spacing:0.15pt;"> </span>$8,834,500.<span style="letter-spacing:0.25pt;"> </span>The<span style="letter-spacing:0.2pt;"> </span>final<span style="letter-spacing:0.2pt;"> </span>purchase<span style="letter-spacing:0.35pt;"> </span>price per<span style="letter-spacing:0.15pt;"> </span>unit<span style="letter-spacing:0.2pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>exercise<span style="letter-spacing:0.35pt;"> </span>price<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>warrants<span style="letter-spacing:0.35pt;"> </span>will<span style="letter-spacing:0.2pt;"> </span>be<span style="letter-spacing:0.15pt;"> </span>equal<span style="letter-spacing:0.25pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>85%<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>intraday<span style="letter-spacing:0.35pt;"> </span>volume<span style="letter-spacing:0.3pt;"> </span>weighted<span style="letter-spacing:0.4pt;"> </span>average<span style="letter-spacing:0.35pt;"> </span>price<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Comm<span style="letter-spacing:0.05pt;">o</span>n<span style="letter-spacing:0.4pt;"> </span>Stock<span style="letter-spacing:0.25pt;"> </span>on<span style="letter-spacing:-0.35pt;"> </span>April 29, 2022,<span style="letter-spacing:0.25pt;"> </span>or<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>date<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>final<span style="letter-spacing:0.2pt;"> </span>closing<span style="letter-spacing:0.3pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>O<span style="letter-spacing:-0.15pt;">f</span>fering,<span style="letter-spacing:0.4pt;"> </span>whichever<span style="letter-spacing:0.4pt;"> </span>is<span style="letter-spacing:0.1pt;"> </span>lowe<span style="letter-spacing:-0.5pt;">r</span>.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11pt;margin:0.55pt 0pt 0pt 0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 21pt 0pt 5pt;">Pursuant<span style="letter-spacing:0.35pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>subscription<span style="letter-spacing:0.5pt;"> </span>agreements,<span style="letter-spacing:0.5pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>has<span style="letter-spacing:0.15pt;"> </span>agreed<span style="letter-spacing:0.3pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>use<span style="letter-spacing:0.15pt;"> </span>commercially<span style="letter-spacing:0.55pt;"> </span>reasonable<span style="letter-spacing:0.45pt;"> </span>e<span style="letter-spacing:-0.15pt;">f</span>forts<span style="letter-spacing:0.3pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>prepare<span style="letter-spacing:0.3pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>file<span style="letter-spacing:0.15pt;"> </span>with<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Securities<span style="letter-spacing:0.4pt;"> </span>and Exchange<span style="letter-spacing:0.4pt;"> </span>Commission<span style="letter-spacing:0.5pt;"> </span>(the<span style="letter-spacing:0.2pt;"> </span>&#8220;SEC&#8221;),<span style="letter-spacing:0.35pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>cause<span style="letter-spacing:0.25pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>SEC<span style="letter-spacing:0.2pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>declare<span style="letter-spacing:0.3pt;"> </span>e<span style="letter-spacing:-0.15pt;">f</span>fective,<span style="letter-spacing:0.4pt;"> </span>within<span style="letter-spacing:0.3pt;"> </span>ninety<span style="letter-spacing:0.25pt;"> </span>(90)<span style="letter-spacing:0.2pt;"> </span>days<span style="letter-spacing:0.2pt;"> </span>following<span style="letter-spacing:0.4pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>final<span style="letter-spacing:0.2pt;"> </span>closing<span style="letter-spacing:0.3pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>O<span style="letter-spacing:-0.15pt;">f</span>fering,<span style="letter-spacing:0.4pt;"> </span>a registration<span style="letter-spacing:0.45pt;"> </span>statement<span style="letter-spacing:0.4pt;"> </span>under<span style="letter-spacing:0.25pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Securities<span style="letter-spacing:-0.15pt;"> </span>Act<span style="letter-spacing:0.2pt;"> </span>covering<span style="letter-spacing:0.35pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>resale<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>all<span style="letter-spacing:0.15pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>shares<span style="letter-spacing:0.25pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>warrants<span style="letter-spacing:0.35pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>purchase<span style="letter-spacing:0.35pt;"> </span>shares<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>Co<span style="letter-spacing:0.05pt;">m</span>mon<span style="letter-spacing:0.4pt;"> </span>Stock<span style="letter-spacing:0.25pt;"> </span>sold<span style="letter-spacing:0.2pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>the O<span style="letter-spacing:-0.15pt;">f</span>fering.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10pt;margin:0.94pt 0pt 0pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 10.95pt 0pt 5pt;">As<span style="letter-spacing:0.15pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>fee<span style="letter-spacing:0.15pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>placement<span style="letter-spacing:0.4pt;"> </span>agent,<span style="letter-spacing:0.25pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>has<span style="letter-spacing:0.15pt;"> </span>agreed<span style="letter-spacing:0.3pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>pay<span style="letter-spacing:0.2pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>cash<span style="letter-spacing:0.2pt;"> </span>fee<span style="letter-spacing:0.15pt;"> </span>equal<span style="letter-spacing:0.25pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>13%<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>gross<span style="letter-spacing:0.25pt;"> </span>proceeds<span style="letter-spacing:0.35pt;"> </span>received<span style="letter-spacing:0.35pt;"> </span>from<span style="letter-spacing:0.2pt;"> </span>qua<span style="letter-spacing:0.05pt;">l</span>ified<span style="letter-spacing:0.35pt;"> </span>investors<span style="letter-spacing:0.35pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>the O<span style="letter-spacing:-0.15pt;">f</span>fering,<span style="letter-spacing:0.4pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>well<span style="letter-spacing:0.2pt;"> </span>as<span style="letter-spacing:0.1pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>one-time<span style="letter-spacing:0.35pt;"> </span>non-accountable<span style="letter-spacing:0.65pt;"> </span>expense<span style="letter-spacing:0.35pt;"> </span>fee<span style="letter-spacing:0.15pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>$50,000<span style="letter-spacing:0.35pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>aggregate<span style="letter-spacing:0.4pt;"> </span>for<span style="letter-spacing:0.15pt;"> </span>all<span style="letter-spacing:0.15pt;"> </span>closings<span style="letter-spacing:0.35pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>O<span style="letter-spacing:-0.15pt;">f</span>fering.<span style="letter-spacing:0.2pt;"> </span>The<span style="letter-spacing:0.2pt;"> </span><span style="letter-spacing:-0.05pt;">C</span>ompany<span style="letter-spacing:0.4pt;"> </span>also<span style="letter-spacing:0.2pt;"> </span>agreed<span style="letter-spacing:0.3pt;"> </span>to issue<span style="letter-spacing:0.25pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>placement<span style="letter-spacing:0.4pt;"> </span>agent<span style="letter-spacing:0.25pt;"> </span>or<span style="letter-spacing:0.1pt;"> </span>its<span style="letter-spacing:0.15pt;"> </span>designees<span style="letter-spacing:0.4pt;"> </span>warrants<span style="letter-spacing:0.35pt;"> </span>with<span style="letter-spacing:0.2pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>10-year<span style="letter-spacing:0.3pt;"> </span>term<span style="letter-spacing:0.2pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>purchase<span style="letter-spacing:0.35pt;"> </span>13%<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>total<span style="letter-spacing:0.2pt;"> </span>number<span style="letter-spacing:0.3pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>shares<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>Co<span style="letter-spacing:-0.05pt;">m</span>mon<span style="letter-spacing:0.4pt;"> </span>Stock,<span style="letter-spacing:0.3pt;"> </span>including shares<span style="letter-spacing:0.25pt;"> </span>subject<span style="letter-spacing:0.3pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>warrants,<span style="letter-spacing:0.4pt;"> </span>sold<span style="letter-spacing:0.2pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>qualified<span style="letter-spacing:0.35pt;"> </span>investors<span style="letter-spacing:0.35pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>O<span style="letter-spacing:-0.15pt;">f</span>fering.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10pt;margin:0.94pt 0pt 0pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 5pt;">The<span style="letter-spacing:0.2pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>is<span style="letter-spacing:0.1pt;"> </span>relying<span style="letter-spacing:0.3pt;"> </span>on<span style="letter-spacing:0.15pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>exemption<span style="letter-spacing:0.45pt;"> </span>provided<span style="letter-spacing:0.35pt;"> </span>by<span style="letter-spacing:0.15pt;"> </span>Rule<span style="letter-spacing:0.2pt;"> </span>506<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>Regulation<span style="letter-spacing:0.45pt;"> </span>D<span style="letter-spacing:0.1pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>Section<span style="letter-spacing:0.3pt;"> </span>4(a)(2)<span style="letter-spacing:0.3pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Securities<span style="letter-spacing:-0.1pt;"> </span>Act<span style="letter-spacing:0.2pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>conn<span style="letter-spacing:-0.05pt;">e</span>ction<span style="letter-spacing:0.45pt;"> </span>with<span style="letter-spacing:0.2pt;"> </span>the O<span style="letter-spacing:-0.15pt;">f</span>fering.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.6pt 0pt 0pt 5pt;"><span style="margin-left:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 10.4pt 0pt 5pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;background:#ffffff;">Issuance of Shares to Former Executive Officer</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 5pt;">The<span style="letter-spacing:0.2pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>issued<span style="letter-spacing:0.25pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>former<span style="letter-spacing:0.3pt;"> </span>executive<span style="letter-spacing:0.4pt;"> </span>o<span style="letter-spacing:-0.15pt;">f</span>ficer<span style="letter-spacing:0.3pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>total<span style="letter-spacing:0.2pt;"> </span>of<span style="letter-spacing:0.05pt;"> 23,651 </span>shares<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>Common<span style="letter-spacing:0.4pt;"> </span>Stock<span style="letter-spacing:0.25pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>satisfy<span style="letter-spacing:0.3pt;"> </span>its<span style="letter-spacing:0.15pt;"> </span>obligation<span style="letter-spacing:0.4pt;"> </span>to<span style="letter-spacing:0.1pt;"> </span>make<span style="letter-spacing:0.25pt;"> </span>a<span style="letter-spacing:0.1pt;"> </span>severance<span style="letter-spacing:0.4pt;"> </span>payment<span style="letter-spacing:0.35pt;"> </span>of $<span style="letter-spacing:0.05pt;">8,042 </span>for<span style="letter-spacing:0.15pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>payroll<span style="letter-spacing:0.3pt;"> </span>period<span style="letter-spacing:0.3pt;"> </span>ended<span style="letter-spacing:0.25pt;"> </span>May<span style="letter-spacing:0.2pt;"> </span>15,<span style="letter-spacing:0.15pt;"> </span>2022,<span style="letter-spacing:0.25pt;"> </span>net<span style="letter-spacing:0.15pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>payroll<span style="letter-spacing:0.3pt;"> </span>deductions<span style="letter-spacing:0.45pt;"> </span>and<span style="letter-spacing:0.2pt;"> </span>withholding<span style="letter-spacing:0.5pt;"> </span>taxes.<span style="letter-spacing:0.05pt;"> </span>The<span style="letter-spacing:0.2pt;"> </span>number<span style="letter-spacing:0.3pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>shares<span style="letter-spacing:0.2pt;"> </span>issued<span style="letter-spacing:0.25pt;"> </span>was<span style="letter-spacing:0.2pt;"> </span>based on<span style="letter-spacing:0.15pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>closing<span style="letter-spacing:0.3pt;"> </span>price<span style="letter-spacing:0.25pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>Common<span style="letter-spacing:0.4pt;"> </span>Stock<span style="letter-spacing:0.25pt;"> </span>on<span style="letter-spacing:0.15pt;"> </span>that date. The<span style="letter-spacing:0.2pt;"> </span>Company<span style="letter-spacing:0.4pt;"> </span>relied<span style="letter-spacing:0.25pt;"> </span>on<span style="letter-spacing:0.15pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>exemption<span style="letter-spacing:0.45pt;"> </span>from<span style="letter-spacing:0.2pt;"> </span>registration<span style="letter-spacing:0.45pt;"> </span>a<span style="letter-spacing:-0.15pt;">f</span>forded<span style="letter-spacing:0.35pt;"> </span>by<span style="letter-spacing:0.15pt;"> </span>Secti<span style="letter-spacing:0.05pt;">o</span>n<span style="letter-spacing:0.3pt;"> </span>4(a)(2)<span style="letter-spacing:0.3pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the Securities<span style="letter-spacing:-0.15pt;"> </span>Act<span style="letter-spacing:0.2pt;"> </span>in<span style="letter-spacing:0.1pt;"> </span>connection<span style="letter-spacing:0.45pt;"> </span>with<span style="letter-spacing:0.2pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>issuance<span style="letter-spacing:0.35pt;"> </span>of<span style="letter-spacing:0.1pt;"> </span>the<span style="letter-spacing:0.15pt;"> </span>shares.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_232d5378_c54c_4874_88a1_53f16ff52558"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">SIGNATURE</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:99.89%;"><tr style="height:1pt;"><td style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;white-space:nowrap;width:46.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">CYTODYN INC.</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:46.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Date: May 31, 2022</p></td><td style="vertical-align:top;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By&#160;</p></td><td style="vertical-align:top;white-space:nowrap;width:46.99%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Antonio Migliarese</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:46.99%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Antonio Migliarese</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;white-space:nowrap;width:46.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Interim President and Chief Financial Officer</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border:0;"></div></body></html>
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{"company-data": {"conformed-name": "CytoDyn Inc.", "cik": "0001175680", "assigned-sic": "2834", "irs-number": "753056237", "state-of-incorporation": "DE", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49908", "film-number": "22984259"}, "business-address": {"street1": "1111 MAIN STREET, SUITE 660", "city": "VANCOUVER", "state": "WA", "zip": "98660", "phone": "360-980-8524"}, "mail-address": {"street1": "1111 MAIN STREET, SUITE 660", "city": "VANCOUVER", "state": "WA", "zip": "98660"}, "former-company": [{"former-conformed-name": "CYTODYN INC", "date-changed": "20031114"}, {"former-conformed-name": "REXRAY CORP", "date-changed": "20020617"}]}
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
Current Report
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 31, 2022 (
May 24, 2022
)
CytoDyn Inc.
(Exact name of registrant as specified in its charter)
​
​
​
Delaware
000-49908
83-1887078
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
1111 Main Street
,
Suite 660
Vancouver
,
Washington
98660
(Address of principal executive offices, including zip code)
(
360
)
980-8524
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
​
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
​
​
​
​
​
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
​
None
​
None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
​
Item 3.02
Unregistered Sales of Equity Securities.
The
Company
is
providing
this
disclosure
because,
as
of
May
24,
2022,
its
unregistered
sales
of
equity
securities that were not previously reported,
in
the
aggr
e
gate,
exceeded
1%
of
the shares
of
its
Common
Stock
outstanding
as
of
May
23,
2022.
​
Private
Placement
of
Common
Stock
and
W
arrants
th
r
ough
Placement
Agent
​
As
of
the
date
of
this
report,
the
Company
has
received
binding
subscription
agreements
for
an
estimated
total
of
approximately
34.6 million units
from accredited
investors
in
a
private
o
f
fering
(the
"O
f
fering")
through
a
placement
agent.
Each
unit
consists
of
one
share
of
Comm
o
n
Stock
and
three-quarters
of
a
warrant
to
purchase
one
share
of
Common
Stock.
The
warrants
will
have
a
five-year
term
and
will
be
exercisable
in
full
when
issued.
The warrants,
other
than
as
described
above,
will
be
substantially
similar
to
the
form
of
warrant
filed
as
Exhibit
4.1
to
the
Comp
a
ny
'
s
Current
Report on
Form
8-K
filed
with
the
SEC
on
September
7,
2021.
​
The
aggregate
gross
proceeds
received
under
the
executed
subscription
agreements
as
of
the
date
of
this
report
are
$8,834,500.
The
final
purchase
price per
unit
and
the
exercise
price
of
the
warrants
will
be
equal
to
85%
of
the
intraday
volume
weighted
average
price
of
the
Comm
o
n
Stock
on
April 29, 2022,
or
the
date
of
the
final
closing
of
the
O
f
fering,
whichever
is
lowe
r
.
​
Pursuant
to
the
subscription
agreements,
the
Company
has
agreed
to
use
commercially
reasonable
e
f
forts
to
prepare
and
file
with
the
Securities
and Exchange
Commission
(the
"SEC"),
and
cause
the
SEC
to
declare
e
f
fective,
within
ninety
(90)
days
following
the
final
closing
of
the
O
f
fering,
a registration
statement
under
the
Securities
Act
covering
the
resale
of
all
of
the
shares
and
warrants
to
purchase
shares
of
Co
m
mon
Stock
sold
in
the O
f
fering.
​
As
a
fee
to
the
placement
agent,
the
Company
has
agreed
to
pay
a
cash
fee
equal
to
13%
of
the
gross
proceeds
received
from
qua
l
ified
investors
in
the O
f
fering,
as
well
as
a
one-time
non-accountable
expense
fee
of
$50,000
in
the
aggregate
for
all
closings
in
the
O
f
fering.
The
C
ompany
also
agreed
to issue
to
the
placement
agent
or
its
designees
warrants
with
a
10-year
term
to
purchase
13%
of
the
total
number
of
shares
of
Co
m
mon
Stock,
including shares
subject
to
warrants,
sold
to
qualified
investors
in
the
O
f
fering.
​
The
Company
is
relying
on
the
exemption
provided
by
Rule
506
of
Regulation
D
and
Section
4(a)(2)
of
the
Securities
Act
in
conn
e
ction
with
the O
f
fering.
​
Issuance of Shares to Former Executive Officer
The
Company
issued
to
a
former
executive
o
f
ficer
a
total
of
23,651
shares
of
Common
Stock
to
satisfy
its
obligation
to
make
a
severance
payment
of $
8,042
for
the
payroll
period
ended
May
15,
2022,
net
of
payroll
deductions
and
withholding
taxes.
The
number
of
shares
issued
was
based on
the
closing
price
of
the
Common
Stock
on
that date. The
Company
relied
on
the
exemption
from
registration
a
f
forded
by
Secti
o
n
4(a)(2)
of
the Securities
Act
in
connection
with
the
issuance
of
the
shares.
​
​
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
​
​
​
​
CYTODYN INC.
​
​
​
Date: May 31, 2022
By
/s/ Antonio Migliarese
​
​
Antonio Migliarese
​
​
Interim President and Chief Financial Officer
​
​
​
​