Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent events

10.  Subsequent Events

On November 4, 2014 the Company completed an underwritten public offering in which selling stockholders sold 2,415,891 shares of the Company’s common stock at $21.50 per share (including 315,116 shares that were offered and sold by the selling stockholders pursuant to the full exercise of the underwriters’ option to purchase additional shares). All of the shares were sold by existing stockholders.  The Company did not receive any proceeds from the sale of the shares in this offering. The primary purposes of the offering were to facilitate an orderly distribution of shares and to increase the Company’s public float.  The Company’s estimated cost associated with this offering was approximately $500 and will be expensed in the fourth quarter of 2014.

In November 2014, the Company secured a primary banking relationship that provides access to a $15,000 working capital revolving line of credit, and treasury and cash management services through commercial banking with JP Morgan.  This agreement is a three-year working capital revolving line of credit which replaces the previous loan facility the Company maintained with Comerica. The interest rate on outstanding debt balances will be LIBOR plus 1.25%.