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At-the-Market Equity Offerings (Tables)
9 Months Ended
Sep. 30, 2024
At Market Equity Offerings [Abstract]  
Summary of Active At-the-Market Equity Offering The following table summarizes the terms and provisions of each sales agreement, and pursuant to each at-the-market equity offering program that was active during the nine months ended September 30, 2024 and the year ended December 31, 2023. The maximum aggregate offering price and cumulative net proceeds (less sales commissions and expenses) for each at-the-market equity offering program in the following table are reported in thousands.

 

 

August 2024 Sales Agreement

 

 

November 2023 Sales Agreement

 

 

August 2023 Sales Agreement

 

 

May 2023 Sales Agreement

 

 

2022 Sales Agreement

 

Agreement effective date

 

August 1, 2024

 

 

November 30, 2023

 

 

August 1, 2023

 

 

May 1, 2023

 

 

September 9, 2022

 

Maximum aggregate offering price

 

$

2,000,000

 

 

$

750,000

 

 

$

750,000

 

 

$

625,000

 

 

$

500,000

 

Maximum commissions payable to sales agents on gross proceeds from the sale of shares

 

 

2.0

%

 

 

2.0

%

 

 

2.0

%

 

 

2.0

%

 

 

2.0

%

Date terminated

 

n/a

 

 

July 31, 2024

 

 

November 29, 2023

 

 

August 1, 2023

 

 

May 1, 2023

 

As of September 30, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative shares sold under such sales agreement

 

 

8,048,449

 

 

 

12,720,770

 

 

 

15,929,500

 

 

 

10,791,700

 

 

 

15,674,300

 

Cumulative net proceeds received from shares sold under such sales agreement

 

$

1,105,141

 

 

$

747,025

 

 

$

737,760

 

 

$

333,494

 

 

$

385,181

 

Maximum aggregate offering price remaining available for sale under such sales agreement

 

$

891,286

 

 

n/a

 

 

n/a

 

 

n/a

 

 

n/a

 

Summary of Sales Activity of Sales Agreement for At-the-Market Equity Offering

The following table summarizes the sales activity of each sales agreement that was active during 2024 or 2023 for the periods indicated. The net proceeds (less sales commissions and expenses) for each at-the-market equity offering program are reported in thousands.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Number of shares sold under such sales agreement:

 

 

 

 

 

 

 

 

 

 

 

 

2022 Sales Agreement

 

n/a

 

 

n/a

 

 

n/a

 

 

 

13,488,550

 

May 2023 Sales Agreement

 

n/a

 

 

 

0

 

 

n/a

 

 

 

10,791,700

 

August 2023 Sales Agreement

 

n/a

 

 

 

4,033,620

 

 

n/a

 

 

 

4,033,620

 

November 2023 Sales Agreement

 

 

0

 

 

n/a

 

 

 

1,951,620

 

 

n/a

 

August 2024 Sales Agreement

 

 

8,048,449

 

 

n/a

 

 

 

8,048,449

 

 

n/a

 

Total shares sold pursuant to at-the-market equity offering programs

 

 

8,048,449

 

 

 

4,033,620

 

 

 

10,000,069

 

 

 

28,313,870

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net proceeds received from shares sold under such sales agreement:

 

 

 

 

 

 

 

 

 

 

 

 

2022 Sales Agreement

 

n/a

 

 

n/a

 

 

n/a

 

 

$

338,962

 

May 2023 Sales Agreement

 

n/a

 

 

 

0

 

 

n/a

 

 

 

333,494

 

August 2023 Sales Agreement

 

n/a

 

 

 

147,218

 

 

n/a

 

 

 

147,218

 

November 2023 Sales Agreement

 

 

0

 

 

n/a

 

 

 

137,152

 

 

n/a

 

August 2024 Sales Agreement

 

 

1,105,141

 

 

n/a

 

 

 

1,105,141

 

 

n/a

 

Total net proceeds received from shares sold pursuant to at-the-market equity offering programs

 

$

1,105,141

 

 

$

147,218

 

 

$

1,242,293

 

 

$

819,674