Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
On November 23, 2022, our board of directors authorized a share repurchase program pursuant to which the Company may repurchase up to $20.0 million of the Company’s common stock through open market or privately negotiated transactions until December 31, 2023. The repurchases are contingent upon favorable market and business conditions and are funded by cash on hand. The program does not obligate the Company to acquire any specific number of shares.
The following table provides monthly information with respect to the shares of common stock repurchased by us during the three months ended June 30, 2023:
Period Total Number of Shares Purchased Average Price Paid Per Share (1) Total Number of Shares Purchased as Part of Publicly Announced Program Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
April 1-30, 2023 433,852 $1.82 433,852 $16.2 million
May 1-31, 2023 477,853 $1.95 477,853 $15.3 million
June 1-30, 2023 296,495 $2.20 296,495 $14.6 million
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1 Average price paid per share includes commission fees.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
None.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.