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's remaining authorization for common share repurchases was $70.9 million at March 31, 2024. The table below details the repurchases made during the three months ended March 31, 2024 under the Company's authorized common share repurchase plan pursuant to Rule 10b5-1(c)(1) under the Securities Exchange Act of 1934:
For the Three Months Ended March 31, 2024 Total number of shares repurchased Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Dollar amount still available under trading plan
($ in thousands)
January 1, 2024 - January 31, 2024 — $ — — $ 71,615
February 1, 2024 - February 29, 2024 — — — 71,615
March 1, 2024 - March 31, 2024 352,111 1.91 352,111 70,942
Total 352,111 $ 1.91 352,111 70,942
Subsequent to the three months ended March 31, 2024 and through the period ended May 8, 2024, the Company repurchased 238,884 additional common shares at an average price per share of $2.16 under the Company's authorized common share repurchase plan pursuant to Rule 10b5-1(c)(1) under the Securities Exchange Act of 1934. The Company's remaining share repurchase authorization was $70.4 million at May 8, 2024.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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