Preferred Stock (Tables)
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2026 |
Dec. 31, 2025 |
| Class of Stock [Line Items] |
|
|
| Schedule of Maximum Redemption Amount of the Company's Preferred Stock |
|
The following table provides for the maximum redemption amount of the Company’s preferred stock for the ensuing five year period provided that all eligible preferred stockholders elected to redeem as of December 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
2026 |
|
|
2027 |
|
|
2028 |
|
|
2029 |
|
|
2030 |
|
Series B Preferred |
|
$ |
35,524 |
|
|
$ |
7,105 |
|
|
$ |
7,105 |
|
|
$ |
7,105 |
|
|
$ |
7,105 |
|
|
$ |
7,104 |
|
Total |
|
$ |
35,524 |
|
|
$ |
7,105 |
|
|
$ |
7,105 |
|
|
$ |
7,105 |
|
|
$ |
7,105 |
|
|
$ |
7,104 |
|
|
| Series A Preferred Stock |
|
|
| Class of Stock [Line Items] |
|
|
| Schedule of Reconciliation of the Redemption Value of Preferred Stock to the Carrying Value Stated on the Consolidated Balance Sheet |
|
Below is a reconciliation of the redemption value of the Series A Preferred Stock to the carrying value stated on the consolidated balance sheet (in thousands):
|
|
|
|
|
|
|
Series A
Preferred
Shares |
|
Redemption value at December 31, 2024 |
|
$ |
19,000 |
|
Equity issuance costs |
|
|
(54 |
) |
Dividends |
|
|
(5,638 |
) |
Carrying Value at December 31, 2024 |
|
$ |
13,308 |
|
|
| Schedule of the Monthly Dividends Related to the Company's Preferred Stock |
|
The table below summarizes the monthly dividends related to the Company’s Series A Preferred Stock (in thousands, except annual dividend rate):
|
|
|
|
|
|
|
|
|
Month Ended |
|
Preferred
Stock
Annual
Dividend
Rate |
|
|
Total Cash
Dividend |
|
March 31, 2025 |
|
|
18 |
% |
|
$ |
249 |
|
February 28, 2025 |
|
|
18 |
% |
|
$ |
255 |
|
January 31, 2025 |
|
|
18 |
% |
|
$ |
290 |
|
December 31, 2024 |
|
|
18 |
% |
|
$ |
290 |
|
November 30, 2024 |
|
|
18 |
% |
|
$ |
269 |
|
October 31, 2024 |
|
|
14 |
% |
|
$ |
237 |
|
September 30, 2024 |
|
|
14 |
% |
|
$ |
316 |
|
August 31, 2024 |
|
|
14 |
% |
|
$ |
403 |
|
July 31, 2024 |
|
|
14 |
% |
|
$ |
434 |
|
June 30, 2024 |
|
|
14 |
% |
|
$ |
431 |
|
May 31, 2024 |
|
|
14 |
% |
|
$ |
458 |
|
April 30, 2024 |
|
|
14 |
% |
|
$ |
460 |
|
March 31, 2024 |
|
|
14 |
% |
|
$ |
500 |
|
February 29, 2024 |
|
|
14 |
% |
|
$ |
489 |
|
January 31, 2024 |
|
|
14 |
% |
|
$ |
523 |
|
|
| Series B Preferred Stock |
|
|
| Class of Stock [Line Items] |
|
|
| Schedule of Reconciliation of the Redemption Value of Preferred Stock to the Carrying Value Stated on the Consolidated Balance Sheet |
|
Below is a reconciliation of the redemption value of the Series B Preferred Stock to the carrying value stated on the consolidated balance sheet (in thousands):
|
|
|
|
|
|
|
Series B
Preferred
Shares |
|
Redemption value at December 31, 2025 |
|
$ |
35,524 |
|
Equity issuance costs |
|
|
(4,836 |
) |
Dividends |
|
|
(3,026 |
) |
Carrying Value at December 31, 2025 |
|
$ |
27,662 |
|
|
|
|
|
|
|
|
Series B
Preferred
Shares |
|
Redemption value at December 31, 2024 |
|
$ |
9,823 |
|
Equity issuance costs |
|
|
(1,351 |
) |
Dividends |
|
|
(555 |
) |
Carrying Value at December 31, 2024 |
|
$ |
7,917 |
|
|
| Schedule of the Monthly Dividends Related to the Company's Preferred Stock |
The table below summarizes the monthly dividends related to the Company’s Series B Preferred Stock (in thousands, except annual dividend rate):
|
|
|
|
|
|
|
Month Ended |
|
Preferred
Stock
Annual
Dividend
Rate |
|
Total Cash
Dividend |
|
June 30, 2026 |
|
10% |
|
$ |
465 |
|
May 31, 2026 |
|
10% |
|
$ |
413 |
|
April 30, 2026 |
|
10% |
|
$ |
381 |
|
March 31, 2026 |
|
10% |
|
$ |
337 |
|
February 28, 2026 |
|
10% |
|
$ |
304 |
|
January 31, 2026 |
|
10% |
|
$ |
282 |
|
December 31, 2025 |
|
10% |
|
$ |
256 |
|
November 30, 2025 |
|
10% |
|
$ |
231 |
|
October 31, 2025 |
|
10% |
|
$ |
201 |
|
September 30, 2025 |
|
10% |
|
$ |
179 |
|
August 31, 2025 |
|
10% |
|
$ |
159 |
|
July 31, 2025 |
|
10% |
|
$ |
150 |
|
June 30, 2025 |
|
10% |
|
$ |
138 |
|
|
The table below summarizes the monthly dividends related to the Company’s Series B Preferred Stock (in thousands, except annual dividend rate):
|
|
|
|
|
|
|
|
|
Month Ended |
|
Preferred
Stock
Annual
Dividend
Rate |
|
|
Total Cash
Dividend |
|
December 31, 2025 |
|
|
10 |
% |
|
$ |
282 |
|
November 30, 2025 |
|
|
10 |
% |
|
$ |
256 |
|
October 31, 2025 |
|
|
10 |
% |
|
$ |
231 |
|
September 30, 2025 |
|
|
10 |
% |
|
$ |
201 |
|
August 31, 2025 |
|
|
10 |
% |
|
$ |
179 |
|
July 31, 2025 |
|
|
10 |
% |
|
$ |
159 |
|
June 30, 2025 |
|
|
10 |
% |
|
$ |
150 |
|
May 31, 2025 |
|
|
10 |
% |
|
$ |
138 |
|
April 30, 2025 |
|
|
10 |
% |
|
$ |
125 |
|
March 31, 2025 |
|
|
10 |
% |
|
$ |
111 |
|
February 28, 2025 |
|
|
10 |
% |
|
$ |
95 |
|
January 31, 2025 |
|
|
10 |
% |
|
$ |
85 |
|
December 31, 2024 |
|
|
10 |
% |
|
$ |
69 |
|
November 30, 2024 |
|
|
10 |
% |
|
$ |
64 |
|
October 31, 2024 |
|
|
10 |
% |
|
$ |
58 |
|
September 30, 2024 |
|
|
10 |
% |
|
$ |
49 |
|
August 31, 2024 |
|
|
10 |
% |
|
$ |
40 |
|
July 31, 2024 |
|
|
10 |
% |
|
$ |
31 |
|
June 30, 2024 |
|
|
10 |
% |
|
$ |
24 |
|
May 31, 2024 |
|
|
10 |
% |
|
$ |
19 |
|
April 30, 2024 |
|
|
10 |
% |
|
$ |
13 |
|
March 31, 2024 |
|
|
10 |
% |
|
$ |
2 |
|
|
| Series C Preferred Stock [Member] |
|
|
| Class of Stock [Line Items] |
|
|
| Schedule of the Monthly Dividends Related to the Company's Preferred Stock |
The table below summarizes the monthly dividends related to the Company’s Series C Preferred Stock (in thousands):
|
|
|
|
|
|
|
Month Ended |
|
Preferred
Stock
Annual
Dividend
Rate |
|
Total Cash
Dividend |
|
December 31, 2025 |
|
14% |
|
$ |
526 |
|
November 30, 2025 |
|
14% |
|
$ |
193 |
|
October 31, 2025 |
|
14% |
|
$ |
200 |
|
September 30, 2025 |
|
14% |
|
$ |
322 |
|
August 31, 2025 |
|
14% |
|
$ |
533 |
|
July 31, 2025 |
|
14% |
|
$ |
666 |
|
June 30, 2025 |
|
14% |
|
$ |
644 |
|
|
The table below summarizes the monthly dividends related to the Company’s Series C Preferred Stock (in thousands):
|
|
|
|
|
|
|
|
|
Month Ended |
|
Preferred
Stock
Annual
Dividend
Rate |
|
|
Total Cash
Dividend |
|
December 31, 2025 |
|
|
14 |
% |
|
$ |
526 |
|
November 30, 2025 |
|
|
14 |
% |
|
$ |
193 |
|
October 31, 2025 |
|
|
14 |
% |
|
$ |
200 |
|
September 30, 2025 |
|
|
14 |
% |
|
$ |
322 |
|
August 31, 2025 |
|
|
14 |
% |
|
$ |
533 |
|
July 31, 2025 |
|
|
14 |
% |
|
$ |
666 |
|
June 30, 2025 |
|
|
14 |
% |
|
$ |
644 |
|
May 31, 2025 |
|
|
14 |
% |
|
$ |
666 |
|
April 30, 2025 |
|
|
14 |
% |
|
$ |
644 |
|
March 31, 2025 |
|
|
14 |
% |
|
$ |
86 |
|
|
| Series D Preferred Stock [Member] |
|
|
| Class of Stock [Line Items] |
|
|
| Schedule of the Monthly Dividends Related to the Company's Preferred Stock |
The table below summarizes the monthly dividends related to the Company’s Series D Preferred Stock (in thousands):
|
|
|
|
|
|
|
Month Ended |
|
Preferred
Stock
Annual
Dividend
Rate |
|
Total Cash
Dividend |
|
June 30, 2026 |
|
14% |
|
$ |
2,124 |
|
May 31, 2026 |
|
14% |
|
$ |
449 |
|
April 30, 2026 |
|
14% |
|
$ |
449 |
|
|
|