Equity Financing Transactions |
9 Months Ended | |||||||||
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Sep. 30, 2020 | ||||||||||
Equity Financing Transactions | ||||||||||
Equity Financing Transactions |
12. Equity Financing Transactions During the nine-month period ended September 30, 2019, the Company generated approximately $32 million of gross proceeds from the sale of its securities as follows:
A portion of the net proceeds from these transactions were used to repay, the outstanding balance on a credit facility maintained with Webster Business Credit Corporation, with the balance used as working capital and for general corporate purposes. On January 27, 2020, the Company filed a Registration Statement on Form S-3 with the SEC covering the offering and sale of up to $100 million of its securities, including common shares, preferred shares, debt securities, warrants, guaranties and units consisting of two or more classes of the foregoing securities. The registration statement became effective February 5, 2020. |