XML 31 R20.htm IDEA: XBRL DOCUMENT v3.7.0.1
Shares Issued through Equity Offering Program
6 Months Ended
Jun. 30, 2017
Shares Issued through Equity Offering Program  
Shares Issued through Equity Offering Program

 

Note 12 — Shares Issued through Equity Offering Program

 

During the three months ended March 31, 2017, pursuant to its amended and restated equity offering sales agreement (the “2014 Agreement”) dated March 20, 2014 with Deutsche Bank Securities (“Deutsche Bank”), the Company sold 27,800 shares of common stock for proceeds of $692,000, net of commissions of $7,000, and incurred offering costs of $16,000 for professional fees. No shares were or will be sold subsequent to March 31, 2017 under the 2014 Agreement.

 

On May 10, 2017, the Company entered into a new equity offering sales agreement with Deutsche Bank (the “2017 Agreement”) to sell shares of the Company’s common stock from time to time with an aggregate sales price of up to $50,000,000, through an “at the market” equity offering program. Through June 30, 2017, the Company sold 4,200 shares under the 2017 Agreement, for proceeds of $99,000, net of commissions of $1,000, and incurred offering costs of $126,000 for professional fees. Subsequent to June 30, 2017, the Company sold 5,806 shares for proceeds of $137,000, net of commissions of $1,400.