What changed in this filing

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Item 2. Unregistered Sales of Equity Securities

2021-11-04 compared with 2021-08-05 · 15 added, 32 removed, 20 unchanged (70% of the section changed)

1 unchanged sentence

Unregistered Sales of Equity Securities

There were no unregistered sales of equity securities during the six months ended June 30, 2021.

There were no unregistered sales of equity securities during the nine months ended September 30, 2021.

Use of Proceeds

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The offering commenced on March 19, 2021 and did not terminate before all of the securities registered in the IPO Registration Statement were sold.

We received net proceeds of approximately $123.9 million from our IPO, including through the exercise of the over-allotment by the underwriters.

The underwriting commissions

were $8.3 million and $1.2 million, from the closing of the IPO and the over-allotment, respectively.

We incurred approximately $3.1 million of expenses in connection with the IPO.

All of the underwriting discounts and other expenses were direct

or indirect payments to persons other than:

(i) our directors, officers or any of their associates; (ii) persons owning ten percent (10%) or more of our common stock; or (iii) our affiliates.

On June 23, 2021, the SEC declared effective our registration statement on Form S-11 (Registration No.

(the “Follow-On Registration Statement”) with respect to our follow-on public offering of common stock, in which we registered an aggregate of 3,162,500 shares of our common stock, including 412,500 shares subject to the underwriters’

over-allotment option.

On June 28, 2021, we completed our follow-on public offering of 2,750,000 shares of our common stock at a price of $20.50 per share, raising $56,375,000 in gross proceeds.

Jefferies, Cowen and JMP Securities served as

joint book-running managers.

We received net proceeds of approximately $52.6 million from our follow-on public offering.

333-257248) (the “Follow-On Registration Statement”) with respect to our

follow-on public offering of common stock, in which we registered an aggregate of 3,162,500 shares of our common stock, including 412,500 shares subject to the underwriters’ over-allotment option.

On June 28, 2021, we completed our follow-on public

offering of 2,750,000 shares of our common stock at a price of $20.50 per share, raising $56,375,000 in gross proceeds.

Jefferies, Cowen and JMP Securities served as joint book-running managers.

We received net proceeds of approximately $52.6

million from our follow-on public offering.

The underwriting commissions were approximately $3.1 million.

We incurred approximately $0.7 million of expenses in

connection with the follow-on public offering.

We incurred approximately $0.7 million of expenses in connection with the follow-on public offering.

On July 6, 2021, the underwriters

partially exercised their over-allotment option to purchase 269,650 shares of the Company’s common stock at a price of $20.50 per share, raising approximately $5.5 million in additional gross proceeds or $5.2 million in net proceeds after

underwriting commissions of approximately $0.3 million.

The offering commenced on June 24, 2021 and terminated on July 23, 2021 upon expiration of the underwriters’ over-allotment option and before the sale of all securities registered in the

Follow-On Registration Statement were sold.

All of the underwriting discounts and other expenses were direct or indirect payments to persons other than:

1 unchanged sentence

or more of our common stock; or (iii) our affiliates.

As of the date of this quarterly report we have used approximately $84.2 million of the net proceeds to fund loans related to new commitments since the IPO and approximately

$11.5 million of the net proceeds to fund previously unfunded commitments.

We intend to use the balance of the net proceeds (i) to fund loans related to unfunded commitments to existing borrowers, (ii) to originate and participate in commercial

loans to companies operating in the cannabis industry that are consistent with our investment strategy and (iii) for working capital and other general corporate purposes.

Until appropriate investments can be identified, we may invest this balance

in interest-bearing, short-term investments, including money market accounts or funds, commercial mortgage-backed securities and corporate bonds, which are consistent with the Company’s intention to qualify as a REIT and to maintain our exclusion

from registration under the Investment Company Act.

None of the proceeds were used to make payments to:

(i) our directors, officers or any of their associates; (ii) persons owning ten percent (10%) or more of our common stock; or (iii) our

There has been no material change in the use of proceeds as described in the Final Prospectus.]

Subsequent to the period ended June 30, 2021, the underwriters partially exercised their over-allotment option to

purchase 269,650 shares of the Company’s common stock at a price of $20.50 per share, which was completed on July 6, 2021, raising approximately $5.5 million in additional gross proceeds or $5.2 million in net proceeds after underwriting

commissions of approximately $0.3 million.

The offering commenced on June 24, 2021 and terminated on July 23, 2021 upon expiration of the underwriters’ over-allotment option and before the sale of all securities registered in the Follow-On

Registration Statement were sold.

Repurchases of Common Stock

There were no issuer repurchases of common stock during the quarter ended June 30, 2021.

There were no issuer repurchases of common stock during the quarter ended September 30, 2021.

Defaults Upon Senior Securities

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Unregistered Sales of Equity Securities