PREFERRED AND COMMON STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

PREFERRED AND COMMON STOCKHOLDERS' EQUITY

PREFERRED AND COMMON STOCKHOLDERS' EQUITY

The Company is authorized to issue up to 5.0 million shares of preferred stock, par value $0.01 per share. There were no shares of preferred stock outstanding at December 31, 2023 and December 31, 2022.

The Company is authorized to issue up to 150.0 million shares of common stock, par value $0.01 per share.

In November 2023, the Company completed an underwritten public offering in which it sold 7.4 million shares of its common stock at a price of $17.00 per share, for gross proceeds of $126.5 million and net proceeds of $117.6 million.

There were 89.9 million and 81.2 million shares of common stock issued and outstanding at December 31, 2023 and 2022, respectively.

Shares of common stock issued and outstanding

	Years Ended December 31,
(in millions)	2023	2022	2021
Beginning common stock issued and outstanding	81.2	80.0	75.4
Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plans	1.3	1.2	4.6
Common stock issued for public offering	7.4	—	—
Common stock issued and outstanding at end of period	89.9	81.2	80.0