On February 23, 2021, the Company issued a total of 4,000,000 shares of common stock at $21.30 per share. Net of underwriting fees and offering costs, the Company received total cash proceeds of $84.9 million. Subsequent to the offering the Company issued an additional 49,689 shares on March 24, 2021 pursuant to the overallotment option granted to underwriters and received, net of underwriting fees, total cash proceeds of $1.0 million.

During the three months ended December 31, 2021, the Company issued a total of 2,324,820 shares of common stock as settlement for the conversion of $42.8 million principal amount of the 2022 Convertible Notes.

On August 1, 2022, the Company issued a total of 4,360,125 shares of common stock, or $77.6 million as settlement for the conversion of $79.2 million principal amount of the 2022 Convertible Notes.

On May 15, 2023, the Company issued a total of 4,500,000 shares of common stock at $17.33 per share. Net of underwriting fees and offering costs, the Company received total cash proceeds of $77.6 million. Subsequent to the offering, the Company issued an additional 675,000 shares on June 12, 2023 pursuant to the overallotment option granted to underwriters and received, net of underwriting fees, additional total cash proceeds of $11.7 million.

The Company has a dividend reinvestment plan, whereby the Company may buy shares of its common stock in the open market or issue new shares in order to satisfy dividend reinvestment requests. The number of shares to be issued to a stockholder is determined by dividing the total dollar amount of the cash dividend or distribution payable to a stockholder by the market price per share of the Company’s common stock at the close of regular trading on the NYSE on the payment date of a distribution, or if no sale is reported for such day, the average of the reported bid and ask prices. However, if the market price per share on the payment date of a cash dividend or distribution exceeds the most recently computed net asset value per share, the Company will issue shares at the greater of (i) the most recently computed net asset value per share and (ii) 95% of the current market price per share (or such lesser discount to the current market price per share that still exceeded the most recently computed net asset value per share). Shares purchased in open market transactions by the plan administrator will be allocated to a stockholder based on the average purchase price, excluding any brokerage charges or other charges, of all shares of common stock purchased in the open market.

Pursuant to the Company’s dividend reinvestment plan, the following tables summarize the shares issued to stockholders who have not opted out of the Company’s dividend reinvestment plan during the years ended December 31, 2023 and 2022. All shares issued to stockholders in the tables below are newly issued shares.


	Year Ended
	December 31, 2023
			Date
Date Declared	Dividend (1)	Record Date	Shares Issued	Shares Issued
February 16, 2023	Supplemental	February 28, 2023	March 20, 2023		61,590
February 16, 2023	Base	March 15, 2023	March 31, 2023		300,988
May 8, 2023	Supplemental	May 31, 2023	June 20, 2023		23,686
May 8, 2023	Base	June 15, 2023	June 30, 2023		290,680
August 3, 2023	Supplemental	August 31, 2023	September 20, 2023		35,504
August 3, 2023	Base	September 15, 2023	September 29, 2023		269,763
November 2, 2023	Supplemental	November 30, 2023	December 20, 2023		32,157
November 2, 2023	Base	December 15, 2023	December 29, 2023		250,844
Total Shares Issued					1,265,212


	Year Ended
	December 31, 2022
			Date
Date Declared	Dividend (1)	Record Date	Shares Issued	Shares Issued
November 2, 2021	Base	December 15, 2021	January 14, 2022		233,542
February 17, 2022	Supplemental	February 28, 2022	March 31, 2022		65,596
February 17, 2022	Base	March 15, 2022	April 18, 2022		239,376
May 3, 2022	Supplemental	May 31, 2022	June 30, 2022		29,459
May 3, 2022	Base	June 15, 2022	July 15, 2022		294,337
August 2, 2022	Base	September 15, 2022	September 30, 2022		357,530
November 1, 2022	Base	December 15, 2022	December 30, 2022		405,986
Total Shares Issued					1,625,826

(1)

See Note 11 for further information on base, supplemental and special dividends.

On August 4, 2015, the Company's Board authorized the Company to acquire up to $50 million in aggregate of the Company’s common stock from time to time over an initial six month period, and has continued to authorize the refreshment of the $50 million amount authorized under and extension of the stock repurchase program prior to its expiration since that time, most recently as of November 1, 2022. The amount and timing of stock repurchases under the program may vary depending on market conditions, and no assurance can be given that any particular amount of common stock will be repurchased.

During the year ended December 31, 2023, no shares were repurchased. For the year ended December 31, 2022, the Company repurchased 368,206 shares at a weighted average price per share of $16.75 inclusive of commissions, for a total cost of $6.2 million.