Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: On April 10, 2020, the Company issued to the Operator 203,349 shares of our Common Stock, representing approximately 1.4% of the outstanding shares of our Common Stock prior to such issuance, as payment, in lieu of cash, for the $2,359,000 of asset management fees owed to the Operator for the first quarter of 2020.
+Added: On January 21, 2021, we issued to the Operator an aggregate of 96,740 shares of our Series A Preferred Stock as payment, in lieu of cash, for $2.4 million of asset management fees owed to the Operator under the Investment Management Agreement for the fourth quarter of 2020.
Such securities were issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.
−Removed: On July 8, 2020, in lieu of cash payment of the asset management fee for the second quarter of 202 0, the Company issued to the Operator 95,245 shares of its Series A Preferred Stock, representing approximately 1.8% of the outstanding shares of our Series A Preferred Stock prior to such issuance.
−Removed: On July 8, 2020, the Company issued to the Administrator 11,273 shares of our Series A Preferred Stock, representing approximately 0.2% of the outstanding shares of our Series A Preferred Stock prior to such issuance, in lieu of cash as payment of the Base Service Fee for the first quarter of 2020.
Defaults Upon Senior Securities
2 unchanged sentences
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.