| Subsequent Events |
SUBSEQUENT EVENTS Financing Activity
Debt Activity—Loan Maturities
Subsequent to June 30, 2023, we repaid a $3.2 million maturing bond that bore interest at an annual rate of 2.13%.
Equity Activity
The following table provides information on equity sales that have occurred subsequent to June 30, 2023 (dollars in thousands, except per-share amounts):
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| Type of Issuance |
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Number of
Shares Sold |
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Weighted Average Offering
Price Per Share |
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Gross Proceeds |
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Net Proceeds(1)
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| Series E Preferred Stock |
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41,600 |
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$ |
25.00 |
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$ |
1,040 |
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$ |
936 |
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| Common Stock – ATM Program |
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58,360 |
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17.34 |
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1,012 |
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1,002 |
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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 July 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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July 21, 2023 |
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July 31, 2023 |
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$ |
0.125 |
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August 23, 2023 |
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August 31, 2023 |
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0.125 |
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September 21, 2023 |
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September 29, 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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July 21, 2023 |
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July 31, 2023 |
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$ |
0.125 |
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August 23, 2023 |
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August 31, 2023 |
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0.125 |
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September 21, 2023 |
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September 29, 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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July 21, 2023 |
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July 31, 2023 |
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$ |
0.104167 |
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August 23, 2023 |
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August 31, 2023 |
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0.104167 |
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September 21, 2023 |
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September 29, 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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July 27, 2023 |
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August 4, 2023 |
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$ |
0.104167 |
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August 28, 2023 |
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September 6, 2023 |
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0.104167 |
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September 27, 2023 |
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October 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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July 21, 2023 |
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July 31, 2023 |
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$ |
0.0462 |
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August 23, 2023 |
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August 31, 2023 |
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0.0462 |
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September 21, 2023 |
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September 29, 2023 |
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0.0462 |
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| Total Common Stock Distributions |
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$ |
0.1386
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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.
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