|9 Months Ended|
Sep. 30, 2021
11. CAPITAL STOCK
As of September 30, 2021, the Company was authorized to issue 450,000,000 shares of $0.01 par value common stock of which 10,708,613 had been issued and was outstanding. The Company was also authorized to issue 50,000,000 shares of preferred stock, $0.01 par value, authorized, of which none has been issued.
On June 25, 2021, we completed an underwritten public offering whereby we sold and issued an aggregate of 1,121,496 shares of our common stock at the price of $5.35 per share. Subsequently, the over-allotment option was exercised, and sale completed on June 29, 2021, increasing the total number of shares sold and issued to 1,289,720. We raised aggregate gross proceeds of approximately $6.9 million in the public offering after giving effect to the exercise of the over-allotment option.