| Subsequent Events |
SUBSEQUENT EVENTS Financing Activity—Equity Activity
The following table provides information on equity sales that have occurred subsequent to March 31, 2023 (dollars in thousands, except per-share amounts):
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| Type of Issuance |
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Number of
Shares Sold |
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Weighted Average Offering
Price Per Share |
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Gross Proceeds |
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Net Proceeds(1)
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| Series E Preferred Stock |
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39,781 |
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$ |
24.89 |
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$ |
990 |
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$ |
895 |
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(1)Net of Selling Commissions and Dealer-Manager Fees or underwriting discounts and commissions (in each case, as applicable).
Distributions
On April 11, 2023, our Board of Directors authorized and we declared the following monthly cash distributions to holders of our preferred and common stock:
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| Issuance |
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Record Date |
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Payment Date |
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Distribution per Share |
| Series B Preferred Stock: |
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April 21, 2023 |
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April 28, 2023 |
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$ |
0.125 |
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May 23, 2023 |
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May 31, 2023 |
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0.125 |
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June 21, 2023 |
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June 30, 2023 |
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0.125 |
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| Total Series B Preferred Stock Distributions: |
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$ |
0.375
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| Series C Preferred Stock: |
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April 26, 2023 |
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May 5, 2023 |
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$ |
0.125 |
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May 26, 2023 |
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June 5, 2023 |
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0.125 |
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June 27, 2023 |
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July 5, 2023 |
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0.125 |
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| Total Series C Preferred Stock Distributions: |
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$ |
0.375
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| Series D Term Preferred Stock: |
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April 21, 2023 |
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April 28, 2023 |
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$ |
0.104167 |
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May 23, 2023 |
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May 31, 2023 |
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0.104167 |
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June 21, 2023 |
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June 30, 2023 |
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0.104167 |
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| Total Series D Term Preferred Stock Distributions: |
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$ |
0.312501
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| Series E Preferred Stock: |
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April 26, 2023 |
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May 5, 2023 |
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$ |
0.104167 |
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May 26, 2023 |
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June 5, 2023 |
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0.104167 |
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June 27, 2023 |
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July 5, 2023 |
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0.104167 |
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| Total Series E Preferred Stock Distributions: |
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$ |
0.312501
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Common Stock(1):
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April 21, 2023 |
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April 28, 2023 |
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$ |
0.046 |
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May 23, 2023 |
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May 31, 2023 |
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0.046 |
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June 21, 2023 |
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June 30, 2023 |
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0.046 |
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| Total Common Stock Distributions |
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$ |
0.138
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(1)The same amounts paid to common stockholders will be paid as distributions on each OP Unit held by non-controlling OP Unitholders as of the above record dates.
Director Activity
Terry Brubaker resigned from our Board of Directors, effective April 14, 2023. Mr. Brubaker’s resignation was not a result of any disagreement with the Company on any matter relating to its operations, policies, or practices.
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