Investments

9 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

During the second quarter of 2020, we raised approximately $49.5 million in net proceeds from an underwritten public offering of shares of our common stock. See Note 15 for further details on the equity offering. We invested a portion of the proceeds from the equity offering in held-to-maturity securities, which primarily consist of corporate bonds from large cap industrial and selected financial companies with a minimum credit rating of A. We have the ability and intention to hold these investments until maturity and therefore have classified these investments as held-to-maturity and recorded them at amortized cost.

The amortized cost, gross unrealized gains or losses, and fair value of investments classified as held-to-maturity at June 30, 2020 were as follows:


			Gross Unrealized						Estimated Fair
Due in less than 1 year:	Amortized Cost		Gains		Losses		Market Value
Corporate bonds	$	31,578	$	24	$	(8)	$	31,594
Total as of June 30, 2020	$	31,578	$	24	$	(8)	$	31,594

Investments are exposed to various risks, including interest rate, market and credit risk. As a result, it is possible that changes in the values of these investments may occur and that such changes could affect the amounts reported in the condensed consolidated financial statements.