Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer Purchases of Equity Securities
On June 3, 2021, we entered into a Rule 10b5-1 repurchase plan with Wells Fargo Securities, LLC (the “10b5-1 Plan”). Pursuant to the 10b5-1 Plan, Wells Fargo Securities, LLC, as our agent, will buy in the open market up to $25.0 million in shares of our common stock in the aggregate during the period beginning on the date that is four full calendar weeks from the closing of the IPO and ending 12 months thereafter, unless terminated sooner as specified in the 10b5-1 Plan, including if all the capital committed to the 10b5-1 Plan has been exhausted prior thereto, and otherwise on the terms set forth in the 10b5-1 Plan. Purchases pursuant to the 10b5-1 Plan commenced in July 2021.
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The following table sets forth the number of shares and average price of shares purchased in each month of the third quarter of 2021:
Month Total number of shares purchased (1)
Average price paid per share
July 1, 2021 to July 31, 2021 22,673 $ 17.64
August 1, 2021 to August 31, 2021 19,542 $ 17.93
September 1, 2021 to September 30, 2021 55,237 $ 16.75
Total 97,452
(1) In June 2021, the Company announced the 10b5-1 Plan, pursuant to which Wells Fargo Securities, LLC, as our agent, will buy in the open market up to $25.0 million in shares of our common stock in the aggregate during the period beginning on the date that is four full calendar weeks from the closing of the IPO and ending 12 months thereafter, unless terminated sooner as specified in the 10b5-1 Plan, including if all the capital committed to the 10b5-1 Plan has been exhausted prior thereto, and otherwise on the terms set forth in the 10b5-1 Plan. All shares purchased were purchased as part of the publicly-announced 10b5-1 Plan described above.
Unregistered Sales of Equity Securities
There were no unregistered sales of equity securities during the quarter ended September 30, 2021.
Use of Proceeds from Registered Securities
There were no registered sales of equity securities during the quarter ended September 30, 2021.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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