The company entered into a securities purchase agreement on April 20, 2026, to sell 13,318,181 shares to institutional investors at $1.10 per share. Directors and officers are participating in the offering by purchasing 257,353 shares at $1.36 per share. The total gross proceeds from the offering are expected to be approximately $15 million before expenses. The offering closed on April 21, 2026. The company is restricted from issuing additional common stock or equivalents for 30 days following the closing date.