REGISTRATION STATEMENT AND COMMON EQUITY OFFERINGS |
9 Months Ended |
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Jun. 30, 2023 | |
| Government Assistance [Abstract] | |
| REGISTRATION STATEMENT AND COMMON EQUITY OFFERINGS | REGISTRATION STATEMENT AND COMMON EQUITY OFFERINGS Our shelf registration statement permits us to issue, through one or more transactions, up to an aggregate of $300.0 million in securities, consisting of common stock, preferred stock, subscription rights, debt securities and warrants to purchase common stock or preferred stock. As of June 30, 2023, we had the ability to issue up to an additional $257.2 million in securities under the registration statement.
Common Stock At-the-Market Offerings
In May 2021, we entered into an equity distribution agreement with Jefferies LLC, as amended in August 2022 (the “Jefferies Sales Agreement”), under which we have the ability to issue and sell, from time to time, shares of our common stock with an aggregate offering price of up to $60.0 million. During the nine months ended June 30, 2023, we sold 3,865,890 shares of our common stock under the Jefferies Sales Agreement, at a weighted-average price of $9.90 per share and raised approximately $38.3 million of gross proceeds. Net proceeds, after deducting commissions and offering costs borne by us, were approximately $37.6 million. All sales were above our then current estimated NAV per share. As of June 30, 2023, we had a remaining capacity to sell up to an additional $9.5 million of our common stock under the Jefferies Sales Agreement.
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