Mandatory Redeemable Series B Preferred Stock (Details) - USD ($) |
6 Months Ended | |
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Jun. 30, 2019 |
Jun. 05, 2019 |
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Dividends description | The Preferred Stock is entitled to annual dividends at a rate equal to 8.0% per annum on the Stated Value of the Preferred Stock. Accrued dividends will be payable quarterly in shares of common stock of the Company based on a fixed share price of $1.62. The Warrants have an exercise price of $1.62 per share, which was in excess of the closing price of $1.60 on May 30, 2019, and are immediately exercisable and will expire seven years from the date of issuance. | |
Stock issued exercise of warrants percentage | 19.90% | |
Value of warrants issued with preferred stock | $ 6,700,000 | |
Mandatory Redeemable Series B Preferred Stock [Member] | ||
Warrant exercise price (in usd per share) | $ 7.41 | |
Preferred Stock stated value | $ 20.00 | |
Total proceeds received on the preferred stock | $ 25,000,000.0 | |
Investors purchased | 1,250,000 |
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- Definition Amount of increase in additional paid in capital (APIC) resulting from the issuance of warrants. Includes allocation of proceeds of debt securities issued with detachable stock purchase warrants. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Exercise price per share or per unit of warrants or rights outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Per share or per unit amount of equity securities issued. No definition available.
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- Definition Value of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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- Details
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