Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equ ity Securities and Use of Proceeds
During the third quarter of 2022, we exhausted the remaining repurchase authorization by repurchasing approximately 6.9 million shares at an average cost of approximately $13 per share, including 5.5 million shares that were repurchased at an average cost of approximately $12 per share in connection with a public offering by LSB Funding and SBT Investors, each of which is an affiliate of Eldridge.
The following table summarizes the Company’s purchase of its common stock for the quarter ended September 30, 2022:
Period
(a) Total Number of Shares Purchased
(b) Average Price Paid per Share
(c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Program (1)
(d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Program
July 1 – July 31, 2022
125,100
$
13.59
125,100
$
34,907,150
August 1 – August 31, 2022
6,590,288
12.57
6,590,288
2,086,186
September 1 – September 30, 2022
139,054
15.31
139,054
—
Total
6,854,442
$
12.64
6,854,442
$
—
(1) During May 2022, our Board authorized a $50 million stock repurchase program. In August 2022, our Board authorized an increase in the size of the stock repurchase program to $100 million. During the third quarter of 2022, we exhausted the repurchase authorization under the stock repurchase program. In October 2022, our Board approved another expansion of the stock repurchase program , authorizing us to repurchase an additional $75 million of our outstanding common stock under the stock repurchase program.
Item 3. Defaults up on Senior Securities
Not applicable
Item 4. Mine Sa fety Disclosures
Not applicable
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.