Stockholder's Equity

6 Months Ended

Jun. 30, 2019

Federal Home Loan Banks [Abstract]

Stockholder's Equity

10. Stockholder’s Equity

The Company is authorized to issue 150,100,000 shares of capital stock pursuant to its Amended and Restated Certificate of Incorporation, consisting of (i) 100,000 shares of common stock, par value $0.01 per share, and (ii) 150,000,000 shares of preferred stock, par value $0.0001 per share.

Holders of the Company’s common stock are entitled to one vote for each share of common stock held. At June 30, 2019 and December 31, 2018, there were 100 shares of common stock issued and outstanding. In March 2019, the holders of the Company’s common stock contributed $2.0 million to the Company. In May 2019, in conjunction with the Series A Preferred Stock redemption, the holders of the Company’s common stock contributed $40.0 million to the Company.

On March 7, 2019, the Board of Directors of the Company declared a dividend on its common stock of $121,000 per share, which was paid on March 7, 2019. On March 25, 2019, the Board of Directors of the Company declared a dividend on its common stock of $160,000 per share, which was paid on March 25, 2019. On April 25, 2019, the Board of Directors of the Company declared a dividend on its common stock of $54,150 per share, which was paid on April 25, 2019.