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Significant Events and Transactions
6 Months Ended
Jun. 30, 2021
Significant Events and Transactions  
2. Significant Events and Transactions

2. Significant Events and Transactions

 

Pursuant to the Company’s capital return program, the Company’s Board of Directors declared a quarterly dividend of $0.02 per share of the Company’s common stock on July 9, 2021, to stockholders of record as of July 26, 2021. These dividends were paid on August 9, 2021.

 

On June 9, 2021, the Company closed a public offering of 4,249,250 shares of its common stock at a price of $3.00 per share, for net proceeds of $11,559,000 after deducting underwriting discounts and commissions and offering expenses payable by the Company. The shares sold in the offering included the exercise in-full by the underwriters of their over-allotment option to purchase up to 554,250 shares of common stock in addition to the 3,695,000 shares which the underwriters initially agreed to purchase. ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering. The Company intends to use the net proceeds from the offering primarily for general corporate purposes, which may include working capital, capital expenditures, operational purposes, strategic investments and potential acquisitions in complementary businesses.