Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Stockholders' Equity

Stockholders' Equity

11. Stockholders’ Equity

Common Stock

In May 2020, we sold 11,090,000 shares of our common stock in a public offering at $8.05 per share. The net proceeds from the offering were $82.8 million, after deducting underwriting discounts and commissions and offering expenses.

The holders of common stock are entitled to one vote per share on all matters to be voted upon by our stockholders. Subject to the preferences that may be applicable to any outstanding shares of preferred stock, the holders of common stock are entitled to receive ratably such dividends, if any, as may be declared by our Board of Directors.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of changes in foreign currency translation adjustments, which includes changes in a subsidiary’s functional currency, and unrealized gains and losses on available-for-sale securities.

The changes in accumulated balances related to each component of other comprehensive income (loss) are summarized for the three months ended June 30, 2020 and 2019, as follows (in thousands):

	Foreign Currency				Unrealized				Total Accumulated
	Translation Adjustments				(Losses) Gains				Other Comprehensive Loss
	2020		2019		2020		2019		2020		2019
Balance at April 1,	$	(44,835)	$	(44,465)	$	(55)	$	(99)	$	(44,890)	$	(44,564)
Other comprehensive income (loss)		61		(1)		(84)		77		(23)		76
Total before tax		(44,774)		(44,466)		(139)		(22)		(44,913)		(44,488)
Tax effect		—		—		—		—		—		—
Balance at June 30,	$	(44,774)	$	(44,466)	$	(139)	$	(22)	$	(44,913)	$	(44,488)

The changes in accumulated balances related to each component of other comprehensive income (loss) are summarized for the six months ended June 30, 2020 and 2019, as follows (in thousands):

	Foreign Currency				Unrealized				Total Accumulated
	Translation Adjustments				(Losses) Gains				Other Comprehensive Loss
	2020		2019		2020		2019		2020		2019
Balance at January 1,	$	(44,732)	$	(44,460)	$	(133)	$	(174)	$	(44,865)	$	(44,634)
Other comprehensive (loss) income		(42)		(6)		(6)		152		(48)		146
Total before tax		(44,774)		(44,466)		(139)		(22)		(44,913)		(44,488)
Tax effect		—		—		—		—		—		—
Balance at June 30,	$	(44,774)	$	(44,466)	$	(139)	$	(22)	$	(44,913)	$	(44,488)

There were no reclassifications out of accumulated other comprehensive loss in each of the three and six months ended June 30, 2020 and 2019.