Annual report pursuant to Section 13 and 15(d)

Equity Offerings

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Equity Offerings
12 Months Ended
Dec. 31, 2022
Equity Offerings  
Equity Offerings

17. Equity Offerings

On December 6, 2021, the Company filed a prospectus supplement to its Form S-3 Registration Statement covering the sale of up to $44,925,000 of its common shares in an “at-the market” offering. During the year ended December 31, 2022, the Company sold an aggregate of 7,879,907 common shares under this prospectus and realized net proceeds of $39,487,960 in connection therewith. In 2021, the Company sold an aggregate of 10,490,188 common shares and realized net proceeds of approximately $56.0 million. The shares were sold to the public pursuant to at-the-market offerings.

On August 24, 2022, the Company filed a prospectus supplement to its Form S-3 Registration Statement covering the sale of up to $75,000,000 of its common shares and its Series A Preferred Stock (as defined in Note 20 below) with an aggregate liquidation preference of up to $25,000,000 in an “at-the market” offering, which is ongoing. During the year ended December 31, 2022, the Company did not sell any shares of Series A Preferred Stock and sold approximately $2.0 million of its common shares under this prospectus. At December 31, 2022, approximately $71.3 million of common shares and $25 million of Series A Preferred Stock were available for future sale under the ongoing “at-the market” offering.