Common Stock

9 Months Ended

Sep. 30, 2012

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

15. Common Stock

On January 27, 2012, the Company completed an underwritten public offering of 1,300,000 shares of common stock at a public offering price of $24.75 per share. On February 1, 2012, the Company sold 195,000 additional shares of common stock pursuant to the full exercise of the underwriters’ overallotment option. The offering raised approximately $35 million in net proceeds, after deducting the underwriting discount and other expenses. The Company used the net proceeds of the offering to pay down amounts outstanding under the Credit Facility and for general corporate purposes.

On September 21, 2012, the Company filed articles supplementary to its charter reclassifying and designating 2,500,000 authorized but unissued shares of excess stock, par value $0.0001 per share, of the Company (“Excess Stock”), as shares of common stock, par value $0.0001 per share, of the Company with the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distribution, qualifications and terms and conditions of redemption as set forth in the Company’s charter.

The Company has the authority to issue 20,000,000 shares of capital stock, par value $0.0001 per share, of which 15,850,000 shares are classified as shares of common stock, 4,000,000 shares are classified as shares of Excess Stock and 150,000 shares are classified as shares of the Company’s Series A Junior Participating Preferred Stock.