REGISTRATION STATEMENT AND COMMON EQUITY OFFERINGS |
9 Months Ended |
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Jun. 30, 2024 | |
| Government Assistance [Abstract] | |
| REGISTRATION STATEMENT AND COMMON EQUITY OFFERINGS | REGISTRATION STATEMENT AND COMMON EQUITY OFFERINGS Reverse Stock Split
On April 4, 2024, we completed a Reverse Stock Split of the Company’s issued and outstanding common stock, by the filing of Articles of Amendment with the State Department of Assessments and Taxation of Maryland pursuant to the Maryland General Corporation Law. The Reverse Stock Split became effective at 4:05 p.m. Eastern Time on April 4, 2024. The Reverse Stock Split was effective for purposes of trading as of the opening of business on the Nasdaq Global Select Market on April 5, 2024.
As a result of the Reverse Stock Split, every two shares of common stock issued and outstanding were automatically combined into one new share of common stock. The Reverse Stock Split did not modify any rights or preferences of the shares of common stock. The common stock issued pursuant to the Reverse Stock Split remains fully paid and non-assessable. The Reverse Stock Split did not affect the number of authorized shares of common stock or the par value of the common stock.
Common Stock At-the-Market Offerings
In May 2021, we entered into an equity distribution agreement with Jefferies LLC (as amended and restated, the “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 $100.0 million in an “at the market offering” (the “ATM Program”). In July 2023, we amended and restated the Sales Agreement to add Huntington Securities, Inc. as a sales agent under the ATM Program. We did not issue any shares under the Sales Agreement during the three and nine months ended June 30, 2024. As of June 30, 2024, we had a remaining capacity to sell up to an additional $0.4 million of our common stock under the Sales Agreement.
Shelf Registration Statement Our shelf registration statement on Form N-2 (File No. 333-275934) (the “2024 Registration Statement”), which was declared effective on January 17, 2024, permits us to issue, through one or more transactions, up to an aggregate of $700.0 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, 2024, we had the ability to issue up to $700.0 million in securities under the 2024 Registration Statement.
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