Subsequent Events

3 Months Ended

Mar. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 11 – Subsequent Events

On April 4, 2024 and May 3, 2024, we announced that our Board of Directors authorized a distribution of $0.039 per share monthly cash distribution for shareholders of record of our common stock as of April 15, 2024 and May 15, 2024, respectively. April distributions were paid on May 1, 2024 and we anticipate May distributions to be paid on or around May 31, 2024. The Operating Partnership common unit holders received the same distribution.

Subsequent to March 31, 2024 but before the filing of this Quarterly Report on Form 10-Q, 23,000 Investor Warrants were exercised on a cashless basis for 10% of the shares of Common Stock underlying the Investor Warrant, as the volume-weighted average trading price of the Company’s shares of Common Stock on Nasdaq was below the then-effective exercise price of the Investor Warrant for 10 consecutive trading days as of the date the Investor Warrants became exercisable. As such, 2,300 shares of common stock were issued upon exercise.