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Note Q - Stockholders' Equity
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

NOTE Q—STOCKHOLDERS’ EQUITY

  

Common Stock 

  

The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of up to 45,000,000 shares of common stock, all of which have been designated voting common stock.

  

Preferred Stock 

  

The Company’s Amended and Restated Certificate of Incorporation authorizes the issuance of up to 5,000,000 shares of preferred stock.

  

Public Offerings of Common Stock 

   

On October 24, 2019, the Company filed a Registration Statement on Form S-3 with the Securities and Exchange Commission effective January 9, 2020, providing for the public offer and sale of certain securities of the Company from time to time, at its discretion, up to an aggregate amount of $250 million. In connection with such Form S-3, on February 28, 2020, the Company entered into an Equity Distribution Agreement with Raymond James & Associates, Inc. pursuant to which the Company may issue and sell shares of the Company’s stock having an aggregate offering price of up to $55.0 million (the “Initial ATM Offering”) from time to time through Raymond James & Associates, Inc. The Company completed its Initial ATM Offering in January 2021 and sold 5.9 million shares of common stock at a weighted average price of $9.12 per share, providing proceeds of $53.9 million, net of expenses and underwriting discounts and commissions. On February 26, 2021, the Company entered into another Equity Distribution Agreement with Raymond James & Associates, Inc. pursuant to which the Company may issue and sell shares of the Company’s stock having an aggregate offering price of up to $35 million (the “Second ATM Offering”) from time to time through the Raymond James & Associates, Inc. As of December 31, 2021, the Company sold 0.1 million shares of common stock under the Second ATM Offering at a weighted average price of $9.08 per share, providing proceeds of $1.0 million, net of expenses and underwriting discounts and commissions.