Full House Resorts, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2021

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY

9. EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY

Earnings (Loss) Per Share

The table below reconciles basic and diluted income (loss) per share of common stock:


(In thousands)	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Numerator:
Net income (loss) – basic	$	5,484	$	(6,703)	$	2,039	$	(11,061)
Adjustment for assumed conversion of warrants		—		—		—		(1,562)
Net income (loss) – diluted	$	5,484	$	(6,703)	$	2,039	$	(12,623)

Denominator:
Weighted-average common and common share equivalents - basic		34,156		27,079		30,776		27,077
Potential dilution from share-based awards		2,472		—		2,380		—
Potential dilution from assumed conversion of warrants		—		—		—		182
Weighted-average common and common share equivalents - diluted		36,628		27,079		33,156		27,259
Anti-dilutive share-based awards and warrants excluded from the calculation of diluted loss per share		172		4,204		172		3,198

Stockholders’ Equity

On March 29, 2021, the Company completed an underwritten public offering (the “Offering”) for a total of 6,917,250 shares of its common stock, par value $0.0001 per share (the “Common Stock”), which includes 902,250 shares of Common Stock sold pursuant to the underwriters’ exercise of an option to purchase additional shares of Common Stock to cover over-allotments. The price to the public in the Offering was $6.65 per share of Common Stock, and net proceeds were approximately $43.0 million after deducting underwriting discounts, commissions and offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes, including its current and future development projects.