Annual report [Section 13 and 15(d), not S-K Item 405]

SUBSEQUENT EVENTS

v3.25.4
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Financing Activity
Redemption of Series D Term Preferred Stock
On January 30, 2026, we redeemed all outstanding shares of our Series D Term Preferred Stock at a cash redemption price of $25.100695 per share, representing the payment of the liquidation preference, plus an amount equal to accrued and unpaid dividends to, but excluding, January 30, 2026, in the amount of $0.100695 per share. In total, we paid approximately $60.6 million for the redemption of the Series D Term Preferred Stock. Our Series D Term Preferred Stock was delisted from Nasdaq on the date we redeemed all outstanding shares.
Equity Activity—Equity Issuances
The following table provides information on equity sales that occurred subsequent to December 31, 2025 (dollars in thousands, except per-share amounts):
Type of Issuance Number of
Shares Sold		 Weighted Average Offering Price
Per Share		 Gross Proceeds
Net Proceeds(1)
Common Stock – ATM Program $ 3,423,488  $ 9.72  $ 33,292  $ 32,959 
(1)Net of underwriting discounts and commissions.
Distributions
On January 13, 2026, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:
Issuance Record Date Payment Date Distribution per Share
Series B Preferred Stock: January 23, 2026 January 30, 2026 $ 0.125 
February 18, 2026 February 27, 2026 0.125 
March 23, 2026 March 31, 2026 0.125 
Total Series B Preferred Stock Distributions: $ 0.375 
Series C Preferred Stock: January 23, 2026 January 30, 2026 $ 0.125 
February 18, 2026 February 27, 2026 0.125 
March 23, 2026 March 31, 2026 0.125 
Total Series C Preferred Stock Distributions: $ 0.375 
Series E Preferred Stock: January 27, 2026 February 5, 2025 $ 0.104167 
February 24, 2026 March 5, 2026 0.104167 
March 25, 2026 April 3, 2026 0.104167 
Total Series E Preferred Stock Distributions: $ 0.312501 
Common Stock: January 23, 2026 January 30, 2026 $ 0.0467 
February 18, 2026 February 27, 2026 0.0467 
March 23, 2026 March 31, 2026 0.0467 
Total Common Stock Distributions: $ 0.1401