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STOCKHOLDERS’ EQUITY | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
STOCKHOLDERS’ EQUITY | 9. STOCKHOLDERS’ EQUITY The Company may from time to time issue and sell shares of its common stock through public or “at the market” offerings. In connection with the issuance of its common stock, the Company issued and sold the following shares of common stock during the nine months ended September 30, 2023:
Issuances of Common Stock | Number of Shares Issued |  | Gross Proceeds |  | Underwriting Fees/Offering Expenses |  | Net Proceeds |  | Average Offering Price Per Share(1) |
Public offerings | 12.1 |  | $ | 236.8 |  |  | $ | 13.4 |  |  | $ | 223.4 |  |  | $ | 19.61 |  | (2)
“At the market” offerings | 36.4 |  | 703.1 |  |  | 8.4 |  |  | 694.7 |  |  | $ | 19.31 |  |
Total | 48.5 |  | $ | 939.9 |  |  | $ | 21.8 |  |  | $ | 918.1 |  |  |  |
________________________________________ (1) Represents the gross offering price per share before deducting underwriting discounts and commissions and offering expenses. (2) 12.1 of the shares were sold to the underwriters for a price of $18.53 per share, which the underwriters were then permitted to sell at variable prices to the public. “At the Market” Offerings The Company is party to equity distribution agreements with several banks (the “Equity Distribution Agreements”). The Equity Distribution Agreements provide that the Company may from time to time issue and sell, by means of “at the market” offerings, up to $1,000 of its common stock. Subject to the terms and conditions of the Equity Distribution Agreements, sales of common stock, if any, may be made in transactions that are deemed to be “at the market” offerings as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. Under the Equity Distribution Agreements, common stock with an aggregate offering amount of $554 remained available for issuance as of September 30, 2023. See Note 11 for information regarding shares of common stock issued or purchased in accordance with the Company’s dividend reinvestment plan. Stock Repurchase Program The Company is authorized under its stock repurchase program to purchase up to $1,000 in the aggregate of its outstanding common stock in the open market at certain thresholds below its net asset value per share, in accordance with the guidelines specified in Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing, manner, price and amount of any share repurchases will be determined by the Company, in its sole discretion, based upon an evaluation of economic and market conditions, stock price, applicable legal and regulatory requirements and other factors. The stock repurchase program does not require the Company to repurchase any specific number of shares of common stock or any shares of common stock at all. Consequently, the Company cannot assure stockholders that any specific number of shares of common stock, if any, will be repurchased under the stock repurchase program. As of September 30, 2023, the expiration date of the stock repurchase program is February 15, 2024. The program may be suspended, extended, modified or discontinued at any time. As of September 30, 2023, there was $1,000 available for repurchases under the stock repurchase program. During the nine months ended September 30, 2023 and 2022, the Company did not repurchase any shares of the Company’s common stock under the stock repurchase program.

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