At-the-Market Equity Offerings (Tables)

3 Months Ended

Mar. 31, 2025

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 each Common Stock ATM Offering that was active during the three months ended March 31, 2025 and the year ended December 31, 2024. The maximum aggregate offering price and cumulative net proceeds (less sales commissions and expenses) for each Common Stock ATM Offering in the following table are reported in thousands.

	October 2024 Sales Agreement			August 2024 Sales Agreement			November 2023 Sales Agreement
Agreement effective date	October 30, 2024			August 1, 2024			November 30, 2023
Maximum aggregate offering price	$	21,000,000		$	2,000,000		$	750,000
Maximum commissions payable to sales agents on gross proceeds from the sale of shares		2.0	%		2.0	%		2.0	%
Date terminated/substantially depleted	April 30, 2025			November 19, 2024			July 31, 2024
As of March 31, 2025:
Cumulative shares sold under such sales agreement		51,296,132			11,685,355			12,720,770
Cumulative net proceeds received from shares sold under such sales agreement	$	18,598,636		$	1,993,273		$	747,025
Maximum aggregate offering price remaining available for sale under such sales agreement (1)	$	2,367,648		n/a			n/a

(1)As of May 2, 2025, the cumulative shares sold under the October 2024 Sales Agreement was 58,384,669 and the cumulative net proceeds received from shares sold under the October 2024 Sales Agreement was $20.97 billion. Refer to Note 14, Subsequent Events, for further discussion.

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 Common Stock ATM Offering in the following table are reported in thousands.

	Three Months Ended
	March 31,
	2025		2024
Number of shares sold under such sales agreement:
November 2023 Sales Agreement		0		1,951,620
August 2024 Sales Agreement		0	n/a
October 2024 Sales Agreement		12,624,595	n/a
Total shares sold pursuant to Common Stock ATM Offerings		12,624,595		1,951,620
Net proceeds received from shares sold under such sales agreement:
November 2023 Sales Agreement	$	0	$	137,152
August 2024 Sales Agreement		0	n/a
October 2024 Sales Agreement		4,399,205	n/a
Total net proceeds received from shares sold pursuant to Common Stock ATM Offerings	$	4,399,205	$	137,152