Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Share Issuance Program
On February 3, 2021, the Company filed a $150.0 million shelf registration statement and $50.0 million prospectus supplement with the SEC under which it may offer and sell, from time to time, up to $50.0 million worth of its Class A common stock in "at-the-market" offerings. During the three months ended September 30, 2021, the Company issued 8.1 million shares for proceeds of $33.2 million offset by fees of $1.0 million.
The following table shows the stock issuance activity for the three months ended September 30, 2021:
Period Total Number of Shares Issued Average Price per Share Total Number of Shares Issued As Part of Publicly Announced Plans Gross Proceeds Received in Q1
7/1/21 - 7/31/21 — $ — — $ —
8/1/21 - 8/31/21 46,212 5.99 46,212 276,593
9/1/21 - 9/28/21 8,026,092 4.11 8,072,304 32,960,804
Total 8,072,304 $ 4.12 8,072,304 $ 33,237,397
On September 29, 2021, the Company sold 1.2 million shares for net proceeds of $5.0 million, which settled on October 1, 2021. The settlement occurred in the second quarter, so it is excluded from the table above. Including the shares settled in the second quarter, $11.6 million remains under the prospectus supplement, which equates to 3.3 million shares based on the share price as of September 30, 2021.
Share Repurchase Program
In May 2000, the Board approved a stock repurchase program with no stated expiration date. Since that time and through September 30, 2021, the Board has authorized $650.0 million to be expended for the repurchase of the Company's stock under this program. All repurchased shares become authorized but unissued shares of the Company. The Company last purchased shares in fiscal year 2020. As of September 30, 2021, a total accumulated 30.0 million shares have been repurchased for $595.4 million. At September 30, 2021, $54.6 million remains outstanding under the approved stock repurchase program. The Company does not expect to repurchase shares in fiscal year 2022.
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.