Equity Offerings |
6 Months Ended |
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Jun. 30, 2024 | |
| Equity Offerings | |
| Equity Offerings | 16. Equity Offerings On August 24, 2022, the Company filed a prospectus supplement to its Form S-3 Registration Statement covering the sale of up to $75.0 million of its common shares and its Series A Preferred Stock (as defined in Note 18 below) with an aggregate liquidation preference of up to $25.0 million in an “at-the market” offering, which is ongoing (the “ATM Offering”). On June 17, 2024, the Company filed a new prospectus supplement (the “New Prospectus Supplement”) which modified the ATM Offering by reducing the amount of common shares the Company may offer and sell to up to an aggregate of $48.7 million, including the common shares the Company has already sold in the ATM Offering prior to the date of the New Prospectus Supplement. All the other terms of the ATM Offering remained the same. During the six months ended June 30, 2024, under this offering, the Company sold an aggregate of 568,711 common shares, realizing gross proceeds of $2.1 million and 176,205 shares of its Series A Preferred Stock having an aggregate liquidation preference of approximately $4.4 million, realizing gross proceeds of $3.7 million (representing a discount of 16.2% from the liquidation preference). The Company’s issuance costs for both common shares and Series A Preferred Stock shares sold during the six months ended June 30, 2024 were nominal.
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