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.

On March 5, 2024, the Company issued a total of 4,000,000 shares of common stock at $20.52 per share. Net of underwriting fees and offering costs, the Company received total cash proceeds of $81.5 million. Subsequent to the offering, the Company issued an additional 600,000 shares on April 1, 2024 pursuant to the overallotment option granted to underwriters and received, net of offering and underwriting fees, additional total cash proceeds of $11.9 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, 2024 and December 31, 2023. All shares issued to stockholders in the tables below are newly issued shares.


	For the Year Ended
	December 31, 2024
			Date
Date Declared	Dividend (1)	Record Date	Shares Issued	Shares Issued
February 15, 2024	Supplemental	February 29, 2024	March 20, 2024		36,749
February 15, 2024	Base	March 15, 2024	March 28, 2024		255,308
May 1, 2024	Supplemental	May 31, 2024	June 20, 2024		34,318
May 1, 2024	Base	June 14, 2024	June 28, 2024		261,331
July 31, 2024	Supplemental	August 30, 2024	September 20, 2024		33,887
July 31, 2024	Base	September 16, 2024	September 30, 2024		266,529
November 5, 2024	Supplemental	November 29, 2024	December 20, 2024		28,498
November 5, 2024	Base	December 16, 2024	December 31, 2024		315,317
Total Shares Issued					1,231,937


	For the 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

(1)

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

During the year ended December 31, 2024 and December 31, 2023, we issued 1,231,937 and 1,265,212 shares of the Company's common stock, respectively, to investors who have not opted out of the Company's dividend reinvestment plan for proceeds of $24.7 million and $23.5 million, respectively.

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 May 1, 2024. 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.

No shares were repurchased during the years ended December 31, 2024 and December 31, 2023.