| | |
Per Share
|
| |
Total(1)
|
| ||||||
Public offering price
|
| | | $ | 25.00 | | | | | $ | 42,500,000 | | |
Underwriting discount
|
| | | $ | 1.00 | | | | | $ | 1,700,000 | | |
Proceeds, before expenses, to us
|
| | | $ | 24.00 | | | | | $ | 40,800,000 | | |
| Ladenburg Thalmann | | | Janney Montgomery Scott | | |
William Blair
|
|
| | |
Page
|
| |||
| | | | S-1 | | | |
| | | | S-3 | | | |
| | | | S-15 | | | |
| | | | S-21 | | | |
| | | | S-26 | | | |
| | | | S-27 | | | |
| | | | S-28 | | | |
| | | | S-29 | | | |
| | | | S-42 | | | |
| | | | S-44 | | | |
| | | | S-48 | | | |
| | | | S-48 | | | |
| | | | S-49 | | |
| | |
Page
|
| |||
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| | | | 13 | | | |
| | | | 14 | | | |
| | | | 15 | | | |
| | | | 16 | | | |
| | | | 18 | | | |
| | | | 19 | | | |
| | | | 22 | | | |
| | | | 24 | | | |
| | | | 27 | | | |
| | | | 28 | | | |
| | | | 29 | | | |
| | | | 32 | | | |
| | | | 36 | | | |
| | | | 64 | | | |
| | | | 66 | | | |
| | | | 66 | | | |
| | | | 67 | | |
| | |
March 31, 2021
(Unaudited) |
| |||||||||||||||
| | |
Actual
|
| |
Pro Forma
|
| |
Pro Forma,
As adjusted |
| |||||||||
Assets | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 18,345,654 | | | | | $ | 45,970,932 | | | | | $ | 86,468,932 | | |
Investments securities
|
| | | | 36,305,439 | | | | | | 36,305,439 | | | | | | 36,305,439 | | |
Total
|
| | | $ | 54,651,093 | | | | | $ | 82,276,371 | | | | | $ | 122,774,371 | | |
Indebtedness: | | | | | | | | | | | | | | | | | | | |
Notes payable (net of deferred financing costs of $4,641,953)
|
| | | $ | 109,884,797 | | | | | $ | 109,884,797 | | | | | $ | 109,884,797 | | |
Credit line
|
| | | | 28,160,988 | | | | | | 34,229,353 | | | | | | 34,229,353 | | |
Other loans
|
| | | | 257,845 | | | | | | 257,845 | | | | | | 257,845 | | |
Total indebtedness
|
| | | $ | 138,303,630 | | | | | $ | 144,371,995 | | | | | $ | 144,371,995 | | |
Equity: | | | | | | | | | | | | | | | | | | | |
Preferred shares – $.001 par value; 5,000,000 shares authorized; no shares issued and outstanding, actual or pro forma; 1,700,000 shares of Series A Preferred Stock issued and outstanding, pro forma, as adjusted
|
| | | $ | — | | | | | $ | — | | | | | $ | 1,700 | | |
Common shares – $.001 par value; 100,000,000 shares
authorized; 22,428,208 shares issued and outstanding, actual and 26,640,532 shares issued and outstanding pro forma and pro forma, as adjusted |
| | | | 22,428 | | | | | | 26,640 | | | | | | 26,640 | | |
Paid-in capital
|
| | | | 85,360,645 | | | | | | 106,913,346 | | | | | | 147,409,646 | | |
Accumulated deficit
|
| | | | (707,868) | | | | | | (707,868) | | | | | | (707,868) | | |
Accumulated other comprehensive loss
|
| | | | (33,486) | | | | | | (33,486) | | | | | | (33,486) | | |
Total shareholders’ equity
|
| | | | 84,641,719 | | | | | | 106,198,632 | | | | | | 146,696,632 | | |
Total capitalization
|
| | | $ | 222,945,349 | | | | | $ | 250,570,627 | | | | | $ | 291,068,627 | | |
Underwriter
|
| |
Number of
Shares |
| |||
Ladenburg Thalmann & Co. Inc.
|
| | | | 902,000 | | |
Janney Montgomery Scott LLC
|
| | | | 434,000 | | |
William Blair & Company, L.L.C.
|
| | | | 224,000 | | |
Aegis Capital Corp.
|
| | | | 140,000 | | |
Total
|
| | | | 1,700,000 | | |
| | |
Per Share
|
| |
Without
Option |
| |
With
Option |
| |||||||||
Public offering price
|
| | | $ | 25.00 | | | | | $ | 42,500,000 | | | | | $ | 48,875,000 | | |
Underwriting discount (sales load) paid by us(1)
|
| | | $ | 1.00 | | | | | $ | 1,700,000 | | | | | $ | 1,955,000 | | |
Estimated proceeds to us, before expenses
|
| | | $ | 24.00 | | | | | $ | 40,800,000 | | | | | $ | 46,920,000 | | |
Document
|
| |
Filed
|
|
Annual Report on Form 10-K for the year ended December 31, 2020 | | | | |
Quarterly Report on Form 10-Q for the period ended March 31, 2021 | | | | |
Current Reports on Form 8-K | | | | |
Description common shares contained in our Registration Statement on Form 8-A | | | | |
Description of 7.75% September 2025 notes contained in Registration Statement on Form 8-A | | | | |
Description of 7.125% June 2024 notes contained in Registration Statement on Form 8-A | | | | |
Description of 6.875% December 2024 notes contained in Registration Statement on Form 8-A | | | | |
Description of the Series A Preferred Stock contained in Registration Statement on Form 8-A | | | |
| | |
Page
|
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| | | | 1 | | | |
| | | | 12 | | | |
| | | | 13 | | | |
| | | | 14 | | | |
| | | | 15 | | | |
| | | | 16 | | | |
| | | | 18 | | | |
| | | | 19 | | | |
| | | | 22 | | | |
| | | | 24 | | | |
| | | | 27 | | | |
| | | | 28 | | | |
| | | | 29 | | | |
| | | | 32 | | | |
| | | | 36 | | | |
| | | | 64 | | | |
| | | | 66 | | | |
| | | | 66 | | | |
| | | | 67 | | |
Payment Date
|
| |
Amount
Per Share |
| |||
2021 | | | | | | | |
April 16
|
| | | $ | 0.12 | | |
January 8¥ | | | | $ | 0.12 | | |
2020 | | | | | | | |
November 4
|
| | | $ | 0.12 | | |
August 7***
|
| | | $ | 0.12 | | |
January 27*
|
| | | $ | 0.12 | | |
2019 | | | | | | | |
October 22
|
| | | $ | 0.12 | | |
July 29
|
| | | $ | 0.12 | | |
April 18
|
| | | $ | 0.12 | | |
January 10**
|
| | | $ | 0.17 | | |
2018 | | | | | | | |
November 6
|
| | | $ | 0.12 | | |
July 27
|
| | | $ | 0.11 | | |
April 27***
|
| | | $ | 0.105 | | |
February 27****
|
| | | $ | 0.105 | | |
2017 | | | | | | | |
November 17
|
| | | $ | 0.105 | | |
July 27
|
| | | $ | 0.105 | | |
April 27
|
| | | $ | 0.05 | | |
Document
|
| |
Filed
|
|
Annual Report on Form 10-K for the year ended December 31, 2020 | | | | |
Quarterly Report on Form 10-Q for the period ended March 31, 2021 | | | | |
Current Reports on Form 8-K | | | | |
Description common shares contained in our Registration Statement on Form 8-A | | | | |
Description of 7.75% September 2025 notes contained in Registration Statement on Form 8-A | | | | |
Description of 7.125% June 2024 notes contained in Registration Statement on Form 8-A | | | | |
Description of 6.875% December 2024 notes contained in Registration Statement on Form 8-A | | | |
| Ladenburg Thalmann | | | Janney Montgomery Scott | | |
William Blair
|
|