Note 17 - At Market Agreement

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Equity [Text Block]

(17) AT MARKET AGREEMENT

On  December 18, 2023, we entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Agent”), pursuant to which we may issue and sell, from time to time, shares (the “Shares”) of our common stock, par value $0.01 per share (the “Common Stock”), with aggregate gross proceeds of up to $50.0 million through an “at-the-market” equity offering program under which the Agent will act as sales agent (the “ATM Program”). Under the Sales Agreement, each of us have the right, by giving five (5) days’ notice, to terminate the Sales Agreement in its sole discretion. The Agent  may also terminate the Agreement, by notice to us, upon the occurrence of certain events described in the Sales Agreement.

During  December 2023, we issued 794,000 shares of Common Stock under the ATM Program for net proceeds of $7.3 million. During the three months ended March 31, 2024, we issued 710,623 shares of Common Stock under the ATM Program for net proceeds of $6.6 million.