On March1, 2017,
following stockholder approval of the Reverse Split Proposal, the
Companys board of directors approved a reverse stock split of the
Companys common stock at a ratio of 1-for-5. On March1, 2017, the
Company filed with the Secretary of State of the State of
Delaware a Certificate of Amendment of its Amended and Restated
Certificate of Incorporation (the Charter Amendment) to (i)effect
the 1-for-5
reverse stock split of the Companys outstanding common stock and
(ii)reduce the authorized number of shares of the Companys common
stock from 700,000,000 to 140,000,000 shares. The Charter
Amendment will be effective at 5:01 p.m. Eastern Time on March2,
2017 (the Effective Time).

The Charter Amendment provides
that, at the Effective Time, (a)every five shares of the Companys
issued and outstanding common stock will automatically be
combined into one issued and outstanding share of common stock,
without any change in par value per share, and (b)the number of
authorized shares of common stock will be reduced to 140,000,000
shares. As a result of the reverse stock split, proportionate
adjustments will be made to the per share exercise price and/or
the number of shares issuable upon the exercise or vesting of all
stock options, restricted stock units and warrants issued by the
Company and outstanding immediately prior to the Effective Time,
which will result in a proportionate decrease in the number of
shares of the Companys common stock reserved for issuance upon
exercise or vesting of such stock options, restricted stock units
and warrants, and, in the case of stock options and warrants, a
proportionate increase in the exercise price of all such stock
options and warrants. In addition, the number of shares
authorized for future grant under the Companys equity
incentive/compensation plans immediately prior to the Effective
Time will be reduced proportionately.