Stockholders' Equity |
6 Months Ended |
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Jun. 30, 2023 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity |
Note 13. Stockholders’ Equity During the six months ended June 30, 2023, approximately 4.6 million shares of common stock were issued to the Company’s board of directors, officers, employees, and advisors in settlement of an equal number of fully vested restricted stock awards awarded to such individuals by the Company under the Company’s 2019 Equity Incentive Plan, as amended (the “2019 Equity Incentive Plan”). The Company withheld approximately 1.2 million of these shares, with a fair value of approximately $12.8 million, to cover the withholding taxes related to the settlement of these vested restricted stock awards, as permitted by the 2019 Equity Incentive Plan. At-the-Market (“ATM”) Equity Offerings 2022 ATM Offering In March 2022, the Company entered into the 2022 ATM Offering, under which it could offer and sell up to $500.0 million in shares of the Company’s common stock. During the six months ended June 30, 2023, the Company received net proceeds of approximately $184.7 million ($188.4 million of gross proceeds, net of $3.7 million in commissions and expenses) from the sale of 15,877,000 shares of its common stock at a weighted average fair value of $11.87 per share under its 2022 ATM Offering. In July 2023, the Company received net proceeds of approximately $6.6 million ($6.7 million of gross proceeds, net of $0.1 million in commissions and expenses) from the sale of 570,645 shares of its common stock at a weighted average fair value of $11.78 per share under its 2022 ATM Offering. With the sale and issuance of these shares, all $500.0 million in shares of the Company’s common stock available for sale under its 2022 ATM Offering had been issued.
ESS Metron Holdback Shares
On December 31, 2021, the Company acquired 100% of the equity interests in ESS Metron for consideration that included 715,413 shares of the Company’s common stock, 70,165 shares of which were withheld as security for the sellers’ indemnification obligations for 18 months. During the six months ended June 30, 2023, the indemnification period ended, and all 70,165 of the withheld shares were issued to the ESS Metron sellers.
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