shares to be included in each series. Our board of directors may designate the powers, rights, preferences, and privileges of the shares of each series of preferred stock and any of its
qualifications, limitations or restrictions, including dividend rights, conversion rights, voting rights, redemption rights, liquidation preference, and sinking fund terms, in each case without further vote or action by our stockholders. Our board
of directors may also increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. The issuance of preferred
stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deterring, or preventing a change in control, restricting dividends on our common
stock, diluting the voting power and other rights of our common stock and impairing the liquidation rights of our common stock. Such issuance could have the effect of decreasing the market price of our common stock. We currently have no plans to
issue any shares of preferred stock.
Options
As of June 30, 2020, we have granted to management and certain of our employees options to purchase a total of 4,143,796 shares of our
common stock, with a weighted-average exercise price of approximately $15.83 per share that remained outstanding under our equity compensation plans.
Registration Rights
We
are a party to our Second Amended and Restated Registration Rights Agreement, dated as of July 29, 2019, as amended (our Registration Rights Agreement), which provides, among other things, that certain holders of our capital stock
have the right to demand that we file a registration statement or request that their shares of our capital stock be covered by a registration statement that we are otherwise filing.
On May 14, 2020, in connection with the issuance of our 9.75% convertible senior notes due 2025 (the Notes), our Registration
Rights Agreement was amended (the Amendment to Registration Rights Agreement) to add the investors in the Notes as parties and provide that such investors have the right under certain circumstances to demand that we file a registration
statement or request that their shares of our capital stock be covered by a registration statement that we are otherwise filing.
On
May 14, 2020, in connection with the issuance of the Notes, we entered into a Registration Rights Agreement (the 2020 Registration Rights Agreement) with the investors in the Notes. Pursuant to, and subject to the limitations set
forth in, the 2020 Registration Rights Agreement, we will use our commercially reasonable efforts to prepare and file a shelf registration statement registering the offer and sale of (a) the Notes and (b) the shares of common stock issued
or issuable upon conversion of the Notes, and to cause such shelf registration statement to become effective on or prior to August 1, 2020 and to keep such shelf registration statement effective until all the Notes or shares of common stock
issuable upon conversion of the outstanding Notes have been sold or disposed of. The filing of this shelf registration statement satisfies our obligation under the 2020 Registration Rights Agreement to file a registration statement to cover the
resale of the Notes and the shares of our common stock issuable upon conversion of the Notes.
On May 14, 2020, in connection with
the exchange and satisfaction of the 7.75% convertible senior notes, we and the investors party to the registration rights agreement dated December 23, 2019 agreed to terminate that registration rights agreement and our and their rights and
obligations thereunder.
S-1 Registration Rights
Pursuant and subject to the terms and conditions of the Registration Rights Agreement, if we receive a request from certain of our
stockholders, as specified in the Registration Rights Agreement, or any stockholder that is a party to the Registration Rights Agreement and is a holder of at least 40% of our capital stock (other than the capital stock held by such stockholders as
specified in the Registration Rights Agreement), in each case that
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