Post-effective amendment to a registration statement that is not immediately effective upon filing

Private Placements of Common Stock and Warrants (Tables)

v3.25.3
Private Placements of Common Stock and Warrants (Tables)
12 Months Ended
May 31, 2025
Private Placements of Common Stock and Warrants  
Schedule of reconciliation of the beginning and ending balances for liabilities measured at fair value

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(in thousands)

    

Liability Classified Warrants

Balance at May 31, 2023

$

79

Classified as liability

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6,970

Reclassified as equity

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(7,285)

Loss on derivative due to change in fair market value

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236

Balance at May 31, 2024

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—

Schedule of estimated the fair value of the warrant derivatives

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April

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Inputs at Liability Classification

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Inputs at Equity Classification

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Placement

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July

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November

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December

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July

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November

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December

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Agent

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Note

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Placement

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Note

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April

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Note

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Placement

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Note

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warrants at

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conversion

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Agent

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conversion

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Placement

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conversion

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Agent conversion

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conversion

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May 31, 2023

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warrants

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warrants

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warrants

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Warrants

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warrants

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warrants

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warrants

Fair value of underlying stock

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$ 0.26

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$ 0.21

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$ 0.18

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$ 0.20

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$ 0.27

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$ 0.17

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$ 0.30

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$ 0.15

Risk free rate

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3.64%

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4.18%

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4.42%

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3.84%

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3.74%

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4.81%

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4.14%

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4.48%

Expected term (in years)

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10.00

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5.00

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10.00

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5.00

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10.00

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5.00

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10.00

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5.00

Stock price volatility

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97.90%

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124.55%

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95.82%

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124.25%

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97.45%

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124.70%

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96.18%

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124.04%

Expected dividend yield

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0.00%

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0.00%

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0.00%

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0.00%

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0.00%

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0.00%

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0.00%

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0.00%