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

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Numerator:
Net income (loss) ─ basic	$	4,619	$	7,708	$	6,658	$	(3,353)
Adjustment for assumed conversion of warrants		—		—		—		(1,159)
Net income (loss) ─ diluted	$	4,619	$	7,708	$	6,658	$	(4,512)

Denominator:
Weighted-average common and common share equivalents ─ basic		34,227		27,106		31,939		27,087
Potential dilution from share-based awards		2,409		358		2,400		—
Potential dilution from assumed conversion of warrants		—		—		—		133
Weighted-average common and common share equivalents ─ diluted		36,636		27,464		34,339		27,220
Anti-dilutive share-based awards and warrants excluded from the calculation of diluted loss per share		177		2,360		177		3,534

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.