Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity and Use of Proceeds
Items 2. (a) and (b) are not applicable.
2. (c) Share Repurchases
On February 21, 2017, the Company's Board of Directors approved the repurchase of up to $100.0 million of the Company's common shares from time to time at market prices. The Company has a remaining authorization of $72.7 million for share repurchases at September 30, 2023. The table below details the repurchases that were made during the three months ended September 30, 2023, under the common share repurchase authorization:
For the Three Months Ended September 30, 2023 Total number of shares repurchased Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Dollar amount still available under trading plan
($ in thousands)
July 1, 2023 - July 31, 2023 — $ — — $ 73,626
August 1, 2023 - August 31, 2023 243,296 1.87 243,296 73,172
September 1, 2023 - September 30, 2023 277,179 1.85 277,179 72,659
Total 520,475 $ 1.86 520,475 72,659
Subsequent to the three months ended September 30, 2023 and through the period ended November 8, 2023, the Company did not repurchase any additional common shares which represent tax withholding in respect of tax obligations on the vesting of performance based shares.
Subsequent to the three months ended September 30, 2023 and through the period ended November 7, 2023, the Company repurchased 226,250 additional common shares at an average price per share of $1.67 under the Company's authorized common share repurchase plan. The Company's remaining share repurchase authorization was $72.3 million at November 7, 2023.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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