Annual report pursuant to Section 13 and 15(d)

Equity Offerings

v3.24.1
Equity Offerings
 12 Months Ended
Dec. 31, 2023
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 $75,000,000 of its common shares and shares of its Series A Preferred Stock (as defined in Note 19 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, 2023, the Company sold an aggregate of 126,923 shares of Series A Preferred Stock having an aggregate liquidation preference of $3,173,075 and an aggregate of 5,546,891 common shares, realizing net proceeds of approximately $20.5 million. During the year ended December 31, 2022, the Company did not sell any shares of Series A Preferred Stock and sold an aggregate of 7,879,907 common shares, realizing net proceeds of approximately $39.3 million. At December 31, 2023, approximately $45.4 million of common shares and shares of Series A Preferred Stock having a liquidation preference of $22.4 million were available for future sale under the ongoing “at-the market” offering.