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.