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Common Stock
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Common Stock

Note 8. Common Stock

Public Offerings of Common Stock

The following table summarizes the cumulative total shares issued, net proceeds received, and weighted average offering price in public offerings of the Company’s common stock since the IPO in June 2011.

 

Period

 

Cumulative Number of Shares

 

 

Cumulative Gross Proceeds

 

 

Cumulative Underwriting Fees and Commissions and Offering Costs (1)

 

 

Weighted Average Offering Price

 

Cumulative since IPO

 

 

14,388,414

 

 

$

236,597

 

 

$

8,989

 

 

$

16.44

 

 

(1) Fidus Investment Advisors, LLC agreed to bear a cumulative of $1,925 of underwriting fees and commissions and offering costs associated with these offerings (such amounts are not included in the number reported above). All such payments made by Fidus Investment Advisors, LLC are not subject to reimbursement by the Company.

No shares have been issued for the three and nine months ended September 30, 2022 and 2021.

Common Stock ATM Program

On August 21, 2014, the Company entered into an equity distribution agreement with Raymond James & Associates, Inc. and Robert W. Baird & Co. Incorporated through which the Company could sell, by means of at-the-market offerings from time to time, shares of the Company’s common stock having an aggregate offering price of up to $50,000 (the “ATM Program”). There were no issuances of common stock under the ATM program during the last two fiscal years and for the nine months ended September 30, 2022.

Stock Repurchase Program

As described in Note 2, the Company has a Stock Repurchase Program under which the Company may acquire up to $5,000 of its outstanding common stock. The Company did not make any repurchases of common stock during the three and nine months ended September 30, 2022 and 2021.

 

Refer to Note 9 for additional information regarding the issuance of shares under the DRIP.

The Company had 24,437,400 shares of common stock outstanding as of September 30, 2022 and December 31, 2021.