At-the-Market (ATM) Program

12 Months Ended

Dec. 31, 2015

At-the-Market (ATM) Program

At-the-Market (ATM) Program

20. At-the-Market (ATM) Program

In September 2015, we established an “at the market” equity distribution program, or our ATM program, pursuant to which we can offer and sell up to 12,000,000 shares of common stock to, or through a consortium of banks acting as our sales agents by means of ordinary brokers’ transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.  During 2015, we issued 714,301 shares and raised approximately $36.3 million under the ATM program.