A short squeeze due to a sudden increase in demand for shares of our common stock that largely
exceeds supply has led to, and may continue to lead to, extreme price volatility in shares of our common stock.
Investors may purchase shares of our common
stock to hedge existing exposure or to speculate on the price of our common stock. Speculation on the price of our common stock may involve long and short exposures. To the extent aggregate short exposure exceeds the number of shares of our common
stock available for purchase on the open market, investors with short exposure may have to pay a premium to repurchase shares of our common stock for delivery to lenders of our common stock. Those repurchases may in turn, dramatically increase the
price of shares of our common stock until additional shares of our common stock are available for trading or borrowing. This is often referred to as a short squeeze. A large proportion of our common stock has been and may continue to be
traded by short sellers which may increase the likelihood that our common stock will be the target of a short squeeze. A short squeeze has led and could continue to lead to volatile price movements in shares of our common stock that are unrelated or
disproportionate to our operating performance or prospectus and, once investors purchase the shares of our common stock necessary to cover their short positions, the price of our common stock may rapidly decline. Investors that purchase shares of
our common stock during a short squeeze may lose a significant portion of their investment.
Information available in public media that is published by third
parties, including blogs, articles, message boards and social and other media may include statements not attributable to the Company and may not be reliable or accurate.
We have received, and may continue to receive, a high degree of media coverage that is published or otherwise disseminated by third parties, including blogs, articles,
message boards and social and other media. This includes coverage that is not attributable to statements made by our directors, officers or employees. You should read carefully, evaluate and rely only on the information contained in this prospectus
supplement, the accompanying prospectus or any applicable free writing prospectus filed with the SEC in determining whether to purchase our shares of common stock. Information provided by third parties may not be reliable or accurate and could
materially impact the trading price of our common stock which could cause losses to your investments.
A large number of shares of our common stock available
for future sale could adversely affect the market price of our common stock and may be dilutive to current stockholders.
The sales of a substantial number
of shares of our common stock, or the perception that such sales could occur, could adversely affect the price for our common stock. Our Board of Directors may authorize the issuance of additional authorized but unissued common stock or other
authorized but unissued securities at any time, including pursuant to equity incentive plans. In addition, we have filed a registration statement with the SEC, allowing us to offer, from time to time and at any time, equity securities (including
common or preferred stock), subject to market conditions and other factors. Accordingly, we may, from time to time and at any time, seek to offer and sell our equity securities, including sales of our common stock in this offering, based upon market
conditions and other factors. Sales of our common stock in this offering, if any, could adversely affect the market price of our common stock and may be dilutive to current stockholders.
Future sales of a substantial amount of our common stock in the public markets by our insiders, or the perception that these sales may occur, may cause the
market price of our common stock to decline.
Our employees, directors and officers, and their affiliates, hold substantial amounts of shares of our common
stock. Sales of a substantial number of such shares by these stockholders, or the perception that such sales will occur, may cause the market price of our common stock to decline. Other than restrictions on trading that arise under securities laws
(or pursuant to our securities trading policy that is intended to facilitate compliance with securities laws), including the prohibition on trading in securities by or on behalf of a person who is aware of nonpublic material information, we have no
restrictions on the right of our employees, directors and officers, and their affiliates, to sell their unrestricted shares of common stock.
We have broad
discretion in the use of the net proceeds from this offering and may not use them effectively.
Our management will have broad discretion in the application
of the net proceeds, if any, from this offering, including for any of the purposes described in the section entitled Use of Proceeds, and you will not have the opportunity as part of your investment decision to assess whether the net
proceeds are being used appropriately.
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