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At-the-Market Equity Offerings (Tables)
12 Months Ended
Dec. 31, 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 2024, 2023, or 2022. 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.

 

 

 

October 2024 Sales Agreement

 

 

August 2024 Sales Agreement

 

 

November 2023 Sales Agreement

 

 

August 2023 Sales Agreement

 

 

May 2023 Sales Agreement

 

 

2022 Sales Agreement

 

Agreement effective date

 

October 30, 2024

 

 

August 1, 2024

 

 

November 30, 2023

 

 

August 1, 2023

 

 

May 1, 2023

 

 

September 9, 2022

 

Maximum aggregate offering price

 

$

21,000,000

 

 

$

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

%

 

 

2.0

%

Date terminated

 

n/a

 

 

n/a

 

 

July 31, 2024

 

 

November 29, 2023

 

 

August 1, 2023

 

 

May 1, 2023

 

As of December 31, 2024:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative shares sold under such sales agreement

 

 

38,671,537

 

 

 

11,685,355

 

 

 

12,720,770

 

 

 

15,929,500

 

 

 

10,791,700

 

 

 

15,674,300

 

Cumulative net proceeds received from shares sold under such sales agreement

 

$

14,199,432

 

 

$

1,993,273

 

 

$

747,025

 

 

$

737,760

 

 

$

333,494

 

 

$

385,181

 

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

 

$

6,774,741

 

 

$

0

 

 

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, 2023, or 2022 for the periods indicated. The net proceeds (less sales commissions and expenses) for each at-the-market equity offering program are reported in thousands.

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Number of shares sold under such sales agreement:

 

 

 

 

 

 

 

 

 

2022 Sales Agreement

 

n/a

 

 

 

13,488,550

 

 

 

2,185,750

 

May 2023 Sales Agreement

 

n/a

 

 

 

10,791,700

 

 

n/a

 

August 2023 Sales Agreement

 

n/a

 

 

 

15,929,500

 

 

n/a

 

November 2023 Sales Agreement

 

 

1,951,620

 

 

 

10,769,150

 

 

n/a

 

August 2024 Sales Agreement

 

 

11,685,355

 

 

n/a

 

 

n/a

 

October 2024 Sales Agreement

 

 

38,671,537

 

 

n/a

 

 

n/a

 

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

 

 

52,308,512

 

 

 

50,978,900

 

 

 

2,185,750

 

 

 

 

 

 

 

 

 

 

 

Net proceeds received from shares sold under such sales agreement:

 

 

 

 

 

 

 

 

 

2022 Sales Agreement

 

n/a

 

 

 

338,962

 

 

$

46,219

 

May 2023 Sales Agreement

 

n/a

 

 

 

333,494

 

 

n/a

 

August 2023 Sales Agreement

 

n/a

 

 

 

737,760

 

 

n/a

 

November 2023 Sales Agreement

 

 

137,152

 

 

 

609,873

 

 

n/a

 

August 2024 Sales Agreement

 

 

1,993,273

 

 

n/a

 

 

n/a

 

October 2024 Sales Agreement

 

 

14,199,432

 

 

n/a

 

 

n/a

 

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

 

$

16,329,857

 

 

$

2,020,089

 

 

$

46,219