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EQUITY
6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Equity EQUITY
 
Authorized capital stock consists of 19,500,000 shares of common stock, par value $0.01 per share and 500,000 shares of undesignated preferred stock, par value $0.01 per share.

In May 2018, the Company issued and sold 1,293,750 shares of common stock, $0.01 par value per share for an aggregate purchase price (before deducting underwriting discounts and commissions and estimated offering expenses) of $23.3 million in cash. The public offering price was $18.00 per share and the Company incurred $1.9 million in offering costs. Proceeds were used to pay off existing indebtedness of the Company under the Amended Credit Agreement and cancel outstanding stock options held by the Company's former President and Chief Executive Officer, as described in Note 10 below.