Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Unregistered Sales of Equity Securities
None.
Company Repurchases of Equity Securities
The following table sets forth certain information with respect to repurchases of our common shares during the three months ended September 30, 2025:
Period Total number of shares (or units) purchased
Average price paid per share (1)
Total number of shares purchased as part of publicly announced plans or programs (2)
Maximum number of shares that may yet be purchased under the plans or programs
Jul 1- Jul 30, 2025
819,246 $6.56 819,246 887,134
Aug 1- Aug 31, 2025
592,131 $6.78 592,131 295,003
Sep 1- Sep 30, 2025
295,003 $6.80 295,003 —
Total 1,706,380 $6.68 1,706,380 —
(1) Average price paid per share includes broker commissions but excludes taxes payable.
(2) On June 6, 2025, the Company's Board of Directors authorized and approved a share repurchase program. Under the terms of the 2025 Share Repurchase Program, the Company may repurchase up to 1,976,441 of its common shares from time to time through open market purchases, block purchases or otherwise in accordance with applicable securities laws, including Rule 10b-18 of the Exchange Act. The 2025 Share Repurchase Program was completed and terminated during the three months ended September 30, 2025, upon the repurchase of all shares authorized under the program.
Dividends
We have not declared or paid any cash or stock dividends on our common shares since our inception. Any future determination as to the declaration and payment of cash dividends will be at the discretion of the Board and will depend on then-existing conditions, including our financial condition, results of operations, contractual restrictions, capital requirements, business prospects, and other factors that the Board considers relevant. Our subsidiaries are restricted from maki ng distributions or dividend payments to us by the 2022 Senior Credit Facilities (as defined above), subject to certain exceptions. See Note 6 to the Financial Statements, included in Part I, Item 1, of this Quarterly Report on Form 10-Q for further information.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety 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.