MEDALLION FINANCIAL CORP
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
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ITEM 1A. RISK FACTORS
There have been no material changes in our risk factors from those disclosed in Part 1, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission on March 7, 2024.
On April 29, 2022, our board of directors authorized a new stock repurchase program with no expiration date, pursuant to which we were authorized to repurchase up to $35 million of our shares, which was increased to $40 million on August 10, 2022, also with no expiration date. Such new repurchase program replaced the previous one, which was terminated. During the quarter ended June 30, 2024, the Company repurchased 183,900 shares of its common stock at an aggregate cost of $1.5 million. Accordingly, as of June 30, 2024, up to $16,357,829 of shares remained authorized for repurchase under our stock repurchase program.
| Total Shares of Common Stock Repurchased | Average Price Paid per Share | TotalAmount Paid | Maximum Value of Shares Yet to Be Purchased | |
|---|---|---|---|---|
| April 1 - April 30 | — | $— | $— | $17,872,483 |
| May 1 - May 31 | 107,000 | 8.15 | 872,413 | 17,000,070 |
| June 1 - June 30 | 76,900 | 8.35 | 642,241 | 16,357,829 |
| Total | 183,900 | $8.24 | $1,514,654 | $16,357,829 |
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