Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
a. Sale of Unregistered Securities.
On April 1, 2024, the Company issued 245,812 unregistered shares of its common stock, $0.00025 par value per share, as the Fourth Anniversary payment related to the previous acquisition of ApiFix. The shares were valued at $28.19 per share on the date of issuance.
On May 1, 2024, the Company issued 42,882 unregistered shares of its common stock, $0.00025 par value per share, in connection with the First Anniversary payment related to the previous acquisition of MedTech. The shares were valued at $31.04 per share on the date of issuance.
On August 2, 2024, the Board of Directors of the Company approved a limited stock repurchase program of up to $5.0 million in aggregate investment of the Company’s outstanding common stock, $0.00025 par value per share. If not yet repurchased as of December 31, 2024, the dollar limit on repurchases thereafter is reduced to $250,000 per annum. The program does not have an expiration date. However, it may be discontinued by the Board of Directors at any time. The Company has not yet repurchased any shares of its common stock pursuant to the repurchase program.
b. Use of Proceeds.
None.
c. Issuer Purchases of Equity Securities.
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
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ITEM 4. MINE SAFETY DISCLOSURES
None.
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