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Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note 15 – Subsequent events

 

Public Offering

On February 7, 2023, the Company entered into an underwriting agreement with BofA Securities, Inc., in which the Company agreed to issue and sell 4,000,000 shares of the Company's common stock in a Public Offering (“Public Offering”), pursuant to the Company's $200.0 million in aggregate value shelf registration statement, which was declared effective on August 12, 2022. The shares of common stock were sold at a price to the public of $12.50 per share. Under the terms of the underwriting agreement, the Company also granted the underwriters an option exercisable for 30 days from the date of the underwriting agreement to purchase up to an additional 600,000 shares of common stock on the same terms and conditions. The underwriters' option was exercised in full on February 10, 2023 and closed on February 14, 2023. The Company received net proceeds of approximately $53.7 million from the Public Offering, after deducting underwriters' discounts and commissions of $3.5 million and offering expenses of $0.3 million.

ATM Offering

As of the date of this Annual Report on Form 10-K, through the ATM offering, a total of 1,355,216 shares of the Company's common stock, for total net proceeds of $17.1 million, have been issued and sold, of which 879,341 shares of the Company's common stock, for net proceeds of $11.1 million, were sold subsequent to December 31, 2022.