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SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2020
SUBSEQUENT EVENT  
SUBSEQUENT EVENT

(12) SUBSEQUENT EVENT

On July 14, 2020, the Company announced commencement of an underwritten public offering of an aggregate of 2,500,000 shares of common stock at a public offering price of $22.00 per share. In the offering, 1,250,000 shares of common stock were sold by the Company and 1,250,000 shares of common stock were sold by a selling stockholder. The selling stockholder was Sandgaard Holdings, LLC., which is 100% controlled by Thomas Sandgaard, CEO and chairman of the board. In addition, the Company and the selling stockholder have each granted the underwriters a 30-day option to purchase up to an additional 187,500 shares of common stock, respectively, at the public offering price, less the underwriting discounts and commissions. The offering closed on July 17, 2020.

The Company evaluated subsequent events up to July 28, 2020 and concluded that there were no additional subsequent events.