Note 16 - Common Stock Offering

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

16:

COMMON STOCK OFFERING

On

March

7,

2014,

the Company closed an underwritten offering of its common stock. The Company raised approximately

$17.2

million in gross proceeds by selling

1,499,999

shares of its Treasury Stock, which includes the full exercise of the over-allotment option granted to the underwriters of

195,652

shares, at a price to the public of

$11.50

per share.

Net proceeds from the sale of the shares after underwriting discounts and estimated offering expenses were approximately

$15.8

million. The Company used the net proceeds from the offering to redeem the remaining

12,000

shares of the Company’s Series A Preferred Stock on

May

7,

2014

and used the remaining net proceeds for working capital and for general corporate purposes, including increasing capital for future acquisitions.