Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Issuer Purchases of Equity Securities
In order to provide common stockholders with interim liquidity, the Board has adopted the SRP, which enables our common stockholders to sell their shares back to us after they have been held for at least one year, subject to significant conditions and limitations. In August 2020, repurchases under the SRP were suspended. For additional information on the SRP, see Note 17 — Subsequent Events and Note 8 — Stockholders’ Equity to our consolidated financial statements included in this Quarterly Report on Form 10-Q.
The following table summarizes our SRP activity for the period presented. Repurchases are currently consummated using the most recently published Estimated Per-Share NAV at the time of the repurchase.
Number of Shares Repurchased Average Price per Share
Cumulative repurchases as of March 31, 2021 4,896,620 $ 20.60
Three months ended March 31, 2021 — —
Cumulative repurchases as of March 31, 2021 4,896,620 20.60
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Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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