Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On July 16, 2026, the board of directors of the Company declared a cash dividend of $0.25 per common share, which the Company expects to pay on August 10, 2026 to shareholders of record as of August 3, 2026. On July 22, 2026, the Company entered into an underwriting agreement with Keefe, Bruyette & Woods, Inc., as representative of the several underwriters named in Schedule I thereto (the “Underwriters”), to issue and sell up to 3,133,750 shares of common stock, including up to 408,750 shares that could be purchased by the Underwriters pursuant to a 30-day option granted to the Underwriters by the Company, at a public offering price of $44.00 per share (the “2026 Public Offering”). On July 24, 2026, the Company closed the 2026 Public Offering and issued 2,725,000 shares of its common stock, and on July 27, 2026, the Company issued an additional 408,750 shares of its common stock to the Underwriters, pursuant to the Underwriters’ full exercise of their option to purchase additional shares. When combined with the shares sold in the closing that occurred on July 24, 2026, the Company sold an aggregate of 3,133,750 shares of its common stock at a public offering price of $44.00 per share. The net proceeds to the Company, after deducting underwriting discounts, commissions, and estimated offering expenses of approximately $0.8 million, were approximately $129.9 million. The Company has a shelf registration statement on file with the SEC registering $300.0 million for any combination of equity or debt securities, depository shares, warrants, purchase contracts, purchase units, subscription rights, and units in one or more offerings. Specific information on any of the terms of any securities being offered, including the expected use of proceeds from the sale of such securities, is provided at the time of the offering. The 2026 Public Offering used $137.9 million of the securities registered under the Company’s shelf registration statement on file with the SEC.
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