Financing Transactions |
12 Months Ended | |||||||||||||||||||||
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Dec. 31, 2020 | ||||||||||||||||||||||
Financing Transactions | ||||||||||||||||||||||
Financing Transactions |
8. Financing Transactions During the year ended December 31, 2020, the Company generated approximately $56.1 million (after taking into account the original issue discount) of gross proceeds from the sale of its securities as follows:
The net proceeds from the sale of these securities were used primarily to fund new mortgage loans and for working capital and general corporate purposes. During the year ended December 31, 2019, the Company generated approximately $90.3 million of gross proceeds from the sale of its securities as follows:
Approximately $31.5 million of the net proceeds from the sale of the foregoing securities were used to pay-off the Webster Credit Facility and the balance was used to fund new mortgage loans and for general corporate purposes.
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