Financing Transactions |
12 Months Ended | ||||||||||||
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Dec. 31, 2022 | |||||||||||||
Financing Transactions | |||||||||||||
Financing Transactions |
8. Financing Transactions During the year ended December 31, 2022, the Company generated approximately $162,419,000 of gross proceeds from the sale of its securities as follows:
The net proceeds from the sale of these securities, approximately $157.6 million, were used primarily to fund new mortgage loans, for working capital and general corporate purposes. During the year ended December 31, 2021, the Company generated approximately $156.8 million of gross proceeds from the sale of its securities as follows: (i)$51,750,000 from the sale of its 6.0% unsecured, unsubordinated notes due December 30, 2026; (ii) $47,575,000 from the sale of its 7.75% cumulative Series A Preferred Stock; and (iii) $57,510,243 from the sale of 10,490,188 common shares in “at-the-market” offerings. The net proceeds from the sale of these securities were used primarily to fund new mortgage loans, for working capital and general corporate purposes
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