Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
As discussed further in Note 1 (see “May 2021 Secondary Offering and Stock Repurchase”) to the financial statements included in this Quarterly Report, in connection with the May 2021 Secondary Offering, we repurchased 3,229,974 shares from the May 2021 Selling Stockholders at a price of $30.96 per share. We did not otherwise repurchase any shares of our common stock during the three months ended July 31, 2021.
Subsequent to the quarter end, on September 2, 2021, our Board of Directors authorized a new share repurchase program under which the Company may purchase up to $500 million of its outstanding shares during the three-year period ending September 2, 2024. Under the share repurchase program, repurchases can be made using a variety of methods, which may include open market purchases, block trades, privately negotiated transactions and/or a non-discretionary trading plan, all in compliance with the rules of the SEC and other applicable legal requirements. The timing, manner, price and amount of any common share repurchases will be determined by the Company in its discretion and will depend on a variety of factors, including legal requirements, price and economic and market conditions. The share repurchase program does not obligate the Company to acquire any particular number of common shares, and the program may be suspended, extended, modified or discontinued at any time.
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