XML 35 R24.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Subsequent Events
3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
 
The Company has evaluated subsequent events through the date on which this Quarterly Report on Form 10-Q was filed, the date on which these financial statements were issued, and identified the items below for discussion.

Indebtedness

From April 1, 2024 to May 6, 2024, the Company had net borrowings of $15.0 million on the revolving credit facility.

From April 1, 2024 to May 6, 2024, the Company borrowed $6.0 million on its construction loans to fund development activities.

The Company exercised its option to extend the maturity date on the loan secured by Chronicle Mill by one year, which will now mature on May 5, 2025. The Company paid a nominal extension fee. The Company also holds an additional one-year extension option that may extend the maturity date to May 5, 2026, subject to the Company's satisfaction of certain conditions.

Equity

In April 2024, the Company issued and sold 87,392 shares of common stock at a weighted average price of $10.45 per share under the ATM program, receiving net proceeds, after offering costs and commissions, of $0.9 million.